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India Automotive Aftermarket to Reach USD 16.76 Billion by 2030, Growing at a CAGR of 7.2%

12-06-2024 02:46 AM CET | Chemicals & Materials

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

India Automotive After Market

India Automotive After Market

India Automotive Aftermarket size was valued at USD 10.3 billion in 2023 and the total India Automotive Aftermarket revenue is expected to grow at a CAGR of 7.2% from 2024 to 2030, reaching nearly USD 16.76 Billion.

๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

The Indian automotive aftermarket is a rapidly growing sector, driven by rising vehicle ownership, increasing demand for vehicle repairs and maintenance, and growing awareness of the benefits of replacement parts and accessories. As India's automotive market expands, the aftermarket sector is benefiting from technological advancements, a growing e-commerce platform for spare parts, and a shift toward high-quality, durable products. Factors like improved vehicle lifespan and a growing middle class contribute to the continued growth of this market, with key players expanding their presence across regions.

๐†๐ž๐ญ ๐˜๐จ๐ฎ๐ซ ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: https://www.maximizemarketresearch.com/request-sample/29939/

๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ:

The growth of the Indian automotive aftermarket is driven by factors such as rising vehicle sales, increased vehicle lifespan, and a growing middle class. Additionally, demand for replacement parts, accessories, and maintenance services is escalating as more consumers focus on vehicle upkeep. E-commerce platforms, technological advancements, and rising awareness about quality products further support market growth. With an expanding car population and higher consumer spending, the sector is poised for continued expansion, attracting both domestic and international players to meet increasing demand.

๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

The India automotive aftermarket is witnessing key trends, including the growing adoption of e-commerce for purchasing spare parts, the rise in demand for advanced automotive technologies like electric vehicle (EV) components, and a shift towards premium, high-quality replacement parts. Additionally, the focus on vehicle maintenance services, coupled with the expansion of service networks and increasing consumer preference for personalized car accessories, is contributing to market growth. The sector is also benefiting from increasing awareness of regular vehicle servicing and the need for durable, reliable automotive products.

๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐“๐จ๐๐š๐ฒ ๐Ÿ๐จ๐ซ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ: https://www.maximizemarketresearch.com/inquiry-before-buying/29939/

๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ๐ฆ๐š๐ซ๐ค๐ž๐ญ

Vietnam and Thailand

In Vietnam, Vingroup has acquired several automotive parts manufacturers to expand its service capabilities. Similarly, Thai Union Group is expanding its reach into the automotive aftermarket by acquiring local service providers.

Singapore and Japan

In Singapore, Delphi Technologies has strengthened its position through strategic partnerships with local suppliers. In Japan, DENSO Corporation continues to acquire small-scale manufacturers to enhance its automotive parts production.

South Korea and the USA

In South Korea, Hyundai Mobis has made several acquisitions in the automotive aftermarket sector to broaden its component portfolio. BorgWarner Inc., a key player in the USA, recently expanded its market footprint through a merger with Roechling Automotive.

European Developments

In Europe, ZF Friedrichshafen AG continues to make strategic moves by acquiring smaller aftermarket service providers to widen its product offerings and expand its customer base in the Indian market.

๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ

The India automotive aftermarket market is experiencing growth driven by rising vehicle ownership and a shift toward high-quality, durable automotive products. Key players like Bosch Ltd., Sundaram Clayton, and Mahindra & Mahindra Ltd. are making strides with enhanced distribution networks and product offerings. The demand for genuine parts and accessories is increasing, contributing to the expansion of service networks across the country.

๐‚๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ? ๐†๐ซ๐š๐› ๐˜๐จ๐ฎ๐ซ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐“๐จ๐๐š๐ฒ: https://www.maximizemarketresearch.com/request-sample/29939/

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ:

by Replacement

Parts Tire
Battery
Brake Parts
Filters
Body parts
Lighting & Electronic Components
Wheels
Exhaust components
Turbochargers
Others

by Certification

Genuine Parts
Certified Parts
Uncertified Parts

by Service Channel

DIY (Do it Yourself)
DIFM (Do it for Me)
OE (Delegating to OEM's)
by Distribution Channel OEMs
Repair Shops
Wholesalers & Distributors

๐–๐ก๐จ ๐ข๐ฌ ๐ญ๐ก๐ž ๐ฅ๐š๐ซ๐ ๐ž๐ฌ๐ญ ๐ฆ๐š๐ง๐ฎ๐Ÿ๐š๐œ๐ญ๐ฎ๐ซ๐ž๐ซ๐ฌ ๐จ๐Ÿ ๐ˆ๐ง๐๐ข๐š ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐€๐Ÿ๐ญ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ฐ๐จ๐ซ๐ฅ๐๐ฐ๐ข๐๐ž?

1. Bosch India
2. TVS Group
3. Mahindra & Mahindra
4. Exide Industries
5. Tata Motors
6. Minda Industries
7. Amara Raja Batteries
8. Ashok Leyland
9. Hero MotoCorp
10. Maruti Suzuki
11. Motherson Sumi Systems
12. JK Tyre & Industries
13. Lumax Industries
14. Sundram Fasteners
15. WABCO India
16. Gabriel India
17. Ceat Ltd.
18. SKF India
19. MRF Limited
20. Apollo Tyres

๐Š๐ง๐จ๐ฐ ๐Œ๐จ๐ซ๐ž ๐€๐›๐จ๐ฎ๐ญ ๐“๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/market-report/india-automotive-aftermarket/29939/

๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

โ€ข Past Market Size and Competitive Landscape
โ€ข Microgrid Control System Market Size, Share, Size & Forecast by different segment
โ€ข Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
โ€ข Microgrid Control System Market Segmentation - A detailed analysis by Product
โ€ข Competitive Landscape - Profiles of selected key players by region from a strategic perspective
โ€ข Competitive landscape - Market Leaders, Market Followers, Regional player
โ€ข Competitive benchmarking of key players by region
โ€ข PESTLE Analysis
โ€ข PORTER's analysis
โ€ข Value chain and supply chain analysis
โ€ข Legal Aspects of business by region
โ€ข Lucrative business opportunities with SWOT analysis
โ€ข Recommendations

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐Œ๐จ๐ซ๐ž: ๐•๐ข๐ฌ๐ข๐ญ ๐Ž๐ฎ๐ซ ๐–๐ž๐›๐ฌ๐ข๐ญ๐ž ๐Ÿ๐จ๐ซ ๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

โ™ฆ Natural Refrigerants Market https://www.maximizemarketresearch.com/market-report/global-natural-refrigerants-market/118102/

โ™ฆ Global Aseptic Paper Packaging for Flat Top Carton Market https://www.maximizemarketresearch.com/market-report/global-aseptic-paper-packaging-for-flat-top-carton-market/45165/

โ™ฆ Global Naphthalene Derivatives Market https://www.maximizemarketresearch.com/market-report/global-naphthalene-derivatives-market/526/

โ™ฆ Chemical Surface Treatment Market https://www.maximizemarketresearch.com/market-report/chemical-surface-treatment-market/1853/

โ™ฆ Global Antimicrobial Textile Market https://www.maximizemarketresearch.com/market-report/global-antimicrobial-textile-market/33646/

โ™ฆ Global Precious Metals Market https://www.maximizemarketresearch.com/market-report/global-precious-metals-market/65161/

โ™ฆ Acetic Acid Market https://www.maximizemarketresearch.com/market-report/acetic-acid-market/13313/

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Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

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