Lucintel Anticipates Indian Auto Component Market to Reach $94.9 Billion by 2019

Increasing automotive production and various plans initiated by the Government are likely to boost the Indian auto component industry. Indian auto component industry is expected to reach $94.9 billion in 2019 promising huge opportunity for the firms operating across the value chain of auto component industry.  Electricals segment is expected to register highest CAGR among all the other segments during 2014-2019 due to the growing demand of electric start mechanism in two-wheeler segments and increasing penetration of electronic device to enhance fuel efficiency.

Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on this market and presents its findings in “Indian Auto Components Industry 2014-2019: Trends, Forecast, and Opportunity Analysis.” The report analyses the auto component industry for Indian market and analyses the risk factors and growth opportunities. The Indian auto component industry is segmented by products (engine parts, body and chassis parts, drive transmission and steering parts, suspension and braking parts, electrical parts, equipment, and others).

Increase in production of two-wheeler and passenger car segment during 2008-2013 had led the industry towards growth. Government measures such as Automotive Mission Plan (AMP) 2006-2016 and Technology Upgradation and Development Scheme (TUDS) etc. are contributing significantly to the growth of Indian auto component industry.

Lucintel highlights key challenges faced by the Indian auto component industry. Increase in prices of input materials such as plastic and aluminium creates a threat in the minds of auto component manufacturers. Indian players have obsolete technologies which are not as competitive as compared to the technologies of global players which hinder the growth of Indian auto component industry. The industry needs to work towards upgrading technologies to meet the global standards. The low-cost advantages associated with Indian auto component industry are anticipated to continue attracting new investors.

This report is a comprehensive study of current trends in the industry, industry growth drivers, and restraints. It provides industry projections for the coming years. It includes analysis of recent developments in technology; Porter’s five forces model analysis, cluster analysis, and detailed profiles of top industry players and customers.

For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com

 

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