Press release
India Automotive Components Market 2025 : Industry Size to Reach USD 80.53 Billion by 2033, CAGR of 4.14%
The India automotive components market size reached USD 55.90 Billion in 2024 and is expected to reach USD 80.53 Billion by 2033, exhibiting a growth rate (CAGR) of 4.14% during 2025-2033.
India Automotive Components Market Trends:
The India automotive components industry is witnessing disruptive trends fueled by technology and changing consumer needs. One of the key trends is the growth of electric vehicle (EV) adoption, driven by growing demand for advanced components like battery packs, power electronics, and light weight materials. This trend is also backed by government policies such as the Production Linked Incentive (PLI) scheme that is promoting local production of EV components. Moreover, the aftermarket segment is also experiencing strong growth with the increase in vehicle ownership and popularity of old cars, resulting in greater demand for replacement parts.
Furthermore, customers are increasingly looking for sustainable manufacturing practices, and firms are investing in green materials and recycling processes to comply with environmental regulations and consumer needs. Apart from these, the application of cutting-edge technologies such as AI and IoT to manufacturing operations is boosting efficiency and quality of products. In addition, production localization, spurred by the 'Make in India' program, is lowering import dependence and stimulating home-grown innovation. All of these trends point to a vibrant and fast-changing Indian automotive component industry.
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India Automotive Components Market Scope and Growth Analysis:
The size of the India automotive components industry is growing remarkably, backed by robust domestic demand and rising export opportunities. The industry's top line is expected to cross USD 80 billion in the near future, based on its strong growth track record. The growth is driven by the increasing production of automobiles, especially of two-wheelers and passenger cars, which form a major share of the market. Separately, auto component exports have been rising steadily, with North America and the European Union being major markets. Also, the government drive to make the industry globally competitive through initiatives such as the Automotive Mission Plan and the PLI scheme is drawing in large investments for research and development.
Besides, the drive for localization is provoking companies to create sophisticated components at home, lessening dependence on imports and increasing the supply chain. Additionally, expanding use of digital technologies in production and supply chain operations is enhancing business efficiency and the quality of products. All these factors combined indicate a bright future for the India automotive components market to become a crucial cog in the global auto industry.
India Automotive Components Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India automotive components market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Vehicle Type Insights:
• Passenger Cars
• Two-Wheelers
• Three-Wheelers
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Off the Road Vehicles
Component Insights:
• Engine Parts
• Body and Chassis
• Suspension and Brakes
• Drive Transmission and Steering Parts
• Electrical Parts and Equipments
Demand Category Insights:
• OEM
• Replacement
Regional Insights:
• North India
• South India
• East India
• West India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Other key areas covered in the report:
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development
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