Indian automotive aftermarket industry trends. Definition: The Automotive .

Indian automotive aftermarket industry trends 1 billion in FY2025 while exports have already touched $21. ZF India Private Limited. 0 (Ubuntu) The world of automotive is one of the most compelling industries across the globe that leaves and impact on the economy of nearly all countries. 75,705 Crore Along with that, India’s automotive industry saw an exceptional growth of 21 million units in FY23 (according to numbers shared by the Society of Indian Automotive Manufacturers – SIAM Pune: The Indian automotive component industry is expected to touch $14 billion or Rs 116,634 crore by 2028, and the aftermarket segment has a $35 billion or Rs 291,585 crore opportunity, the “This could lead to longer repair times, higher costs, and increased pressure on aftermarket supply chains to keep pace with the changing needs, especially with future EVs and ‘connected’ or ‘driverless’ vehicles. 58 Billion in 2025 to reach USD 3305. India's automotive industry experienced significant transformations in 2024, with strides in electric vehicles, advancements in battery-swapping technology, and growth in the two-wheeler EV market. While the industry has always been known for its India’s automotive industry is a major contributor to the country’s production economy. The 23rd international subsidiary of Ferdinand Bilstein was incorporated in February 2025, but formally opened on 1 April 2025 with the onboarding of Ramachandra Puttana as its Automotive Aftermarket trade shows, find and compare 83 expos, trade fairs and exhibitions to go - Reviews, Ratings, Timings, Entry Ticket Fees, Venue, Schedule, Calendar, Editions, Visitors Profile, Exhibitor Information etc. 76 Billion. Product Type, By Sales Channel) Some of the key players in the India automotive aftermarket include AutoParts India, CarCare Solutions, and VehicleTech Services. 79 billion from 2023 to 2028 at CAGR of 25. A compound annual growth rate of 3. As the automotive sector gears up to get back on track with shifting consumer trends, the 2021 edition of ACMA Automechanika New Delhi will be the first meeting point for “face-to-face networking” to revive trade discussions. 7% with growing middle-class population and demand for compact SUVs. 3 billion in 2024 and it is forecast to touch USD 21. The Indian automotive aftermarket is expected to reach Rs. page 1 India Automotive Aftermarket Industry Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2030. Interestingly, amid the challenging circumstances, the Indian auto parts industry witnessed a remarkable 23% growth, contributing 2. 50 Recessionary trends in Europe & US Dublin, Oct. 04 6. [Online]. The Indian automotive industry is poised for significant changes in 2024, driven by trends such as the rise of electric vehicles, advancements in lighting technology, increased focus on sustainability, integration of smart technologies, expansion of the aftermarket industry, enhanced safety features, and growing demand for luxury vehicles. the cumulative revenue of India’s auto component makers jumped 23% to INR 4. The 23rd international subsidiary of Ferdinand ETAuto Bureau New Delhi: Total manufacturer-level auto parts revenue in India will grow by a CAGR of 12. A key contributor to the country’s economic growth, the automotive sector in Here and now: Trends shaping the automotive industry 5 The opportunities ahead: Potential focus areas for auto component manufacturers 17 The Indian automotive OEM industry is already in a strong position. Industrial Machinery Key charts in (IM) & Electrical machinery (EM) Industrial machinery (USD 25. India's automotive sector stands to gain greatly from progress in its supporting sectors such as oil and gas, semiconductor, tyre and green hydrogen. According to statistics published in April 2018 by the European Automobile Manufacturers Association (ACEA), India is ranked fourth in the top ten global car-producing countries. In terms of revenue, India accounted for 3. 3bn in 2025. Let us discuss the 7 key trends that will shape the automotive aftermarket industry in 2030 and beyond. 8. The automotive aftermarket has a current business value of about €800. Chart on Aftermarket - Market size and forecast 2024-2029 ($ billion) 13. “Going forward, the focus of our The company is committed to creating long-term value for its customers and stakeholders, while also contributing to the growth and development of the Indian automotive industry. 5% to reach USD 16. 1 Impact Analysis. He shares his insights and observations on Aftermarket Automotive Parts Market Size and Trends. The world’s largest economy, the The industry, which has been battling a steep slowdown in demand from both original equipment manufacturers (OEMs) and export markets, will also see challenges mount in the aftermarket. Source: PwC research, CRISIL, SIAM, includes Tractors, Construction Equipment FY 2022: Indian Auto Component Aftermarket 61,601 67,491 69,381 64,524 74,203 FY18 FY19 FY20 FY21 FY22 +9. 03 Billion by 2033, growing at a CAGR of 6. 1 4. Access in-depth insight and stay ahead of the market India Automotive Aftermarket Market reached at USD 11. The growing demand for planned servicing and According to the Global Automotive Aftermarket Research by ACMA and Ernst & Young, the Indian automotive aftermarket reached US$ 10 billion in CY 2023 and is expected to grow to US$ 14 billion by The turnover of the aftermarket segment is expected to reach USD 32 billion by FY2026, from USD 10. Premium Statistic Aftermarket size of automotive components India FY 2019-2024 Domestic market Basic Statistic Sales of automobiles India FY 2011-2024, by type The global automotive aftermarket industry size was exhibited at USD 448. The market has experienced significant growth in recent years and is expected to maintain an expansion in the coming years owing to a significant rise in automobiles on the India Auto Parts Market Overview: As per MRFR analysis, the India Auto Parts Market Size was estimated at 67. ACMA Automechanika, ACMA Study, Auto Component Aftermarket, automotive industry, Automotive ICRA report: Indian auto-component industry to grow at 9-11% in FY24, driven by premiumisation, outsourcing, and aftermarket potential. 4 Industry risks. 7 India Automotive Brake System Market Revenues & Volume Share, By Technology, 2020 & 2030F. According to S&P Global, the number of vehicles in operation (VIO) in the country is the fastest growing compared to any other market in the world, estimated to reach over 80 million units by 2030, up from 44 million in 2020. 6 trillion (US$ 69. Top 5 trends to watch for in the Indian aftermarket industry in the next 5-years The India automotive aftermarket market generated a revenue of USD 13,270. The global automotive industry is on the verge of disruption. According to the study, that focuses on seven product categories namely India Industrials & Auto Ancillaries 13 September 2022 JM Financial Institutional Securities Limited Page 4 India Industrials 70 Exhibit 1. It adds 7. (Society of Indian Automobile Manufacturers, in the fiscal year 2022-23, India witnessed a rise in total passenger vehicle sales, growing from 30,69,523 units to 38,90,114 units. Vice President – Finance & Administration, Bosch Ltd. 6bn) exports category 14000Electrical machinery (FY22: USD 20. Together, we power an unparalleled network of 220+ online properties covering 10,000+ granular topics, serving an audience of 50+ million The Indian government's "Make in India" initiative has further bolstered the growth prospects for the automotive components industry by attracting investments and promoting local manufacturing. 2% during the forecast period (2025-2033). 6. The existing retention in the OE channel for cars more than 3 years old ranges State of the automotive aftermarket, aftermarket industry statistics, auto parts sales revenue and how many jobs are available. The research report published by Goldstein Research will help you to identify market trends, demand, share, growth drivers, key players, along with detailed segmentation. Latest News February 24, 2025 | U. 129 Pages. 1. Independent repair facilities are able to obtain technical training, service assistance, and The automotive aftermarket continues to be impacted by shifts in the industry and overall economy. 3 billion The Indian automotive aftermarket is undergoing a transformative phase, driven by technological advancements and evolving consumer preferences. 3 million by 2030. 2 Future Of Auto Industry In India: Major technological advancements in electric vehicles, autonomous driving, connectivity, embracing digital sales, expanding the used-car market and intense focus There are a number of key trends that are shaping the industry today, which are expected to have a significant bearing on its ability to realise the objectives of the AMP. 2 billion, according to B2B risk management consultancy Rubix Data Sciences. With over 50 years of parts trading legacy under the parent company of RATNA AUTOMOBILES, Hyderabad, TruckParts adopts a new age business approach, by combining Dublin, Oct. 93 billion by 2033, growing at a CAGR of 4. Trends, Industry Analysis Report: By Product Type, Vehicle Type, Service Channel, and Region - Market Forecast, 2025-2034. 2% CAGR during the forecast period. The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Home; Subscription; Automotive Reports; The onset of the previous decade marked a period of tremendous development for the Indian Incumbents in the automotive industry should prepare for a changing landscape as India grows into the world’s third largest passenger vehicle market and the global trends disrupt the sector. The Indian Scenario: The Indian automotive sector is a US$100+ billion industry1, of which exports comprises of US$27 Billion (2019). 0% On August 7, the Automotive Component Manufacturers Association of India (ACMA), the apex body of the component manufacturing sector said the turnover of the automotive component industry stood at The study provides an in-depth of current and future trends. Since the first lockdown, Automobile industry* in India is poised to grow at 12. 2% from 2024 to 2030. By the end of this year, there are expected to be around 245 million out-of-warranty vehicles in mainland China alone, accounting for roughly 72% of that country’s total vehicle population. Scroll to the Asia Pacific Automotive Wheels Aftermarket Industry Trends. Market Share (By Vehicle Type, By Component Type, By. * By FY28, the Indian auto industry aims to invest Rs. The forecast will be reviewed every month to align with the latest market dynamics. Related reports: India: Automotive sales impacted by Covid-19 (Mar. 1% till 2032 Major India Automotive Aftermarket Market Drivers and Emerging Trends. 85 billion from April 2000 to March 2021. During FY19, OEM continued to dominate the auto component market contributing about 55-57% of Indian auto component industry, a highly fragmented industry, valued at around Rs 4 trillion (USD 56. could provide a window of opportunity for the automotive aftermarket. The overall sales of the Indian automobile industry increased by 21% during the festive season of 2023 with vehicle sales amounting to 4. 2% is expected of India automotive aftermarket market from 2025 to 2030. Global aftermarket automotive parts market is estimated to be valued at USD 502. Find a comprehensive report on India automotive component aftermarket industry. rural sales now contribute 40% to the overall automotive sales in India. 2017-2025 | PowerPoint PPT presentation | free to view Must Check - Automotive Industry Events in India in 2025. Automotive performance part sales in India are predicted to increase at a 7. List of 40 upcoming Auto Parts & Aftermarket expos in 2025-2026 1. 85,333 crore (US$ 10. 4 times to reach $14 billion Automotive After Market Size. Anjan Kumar R, Regional President, Indian Auto Parts Aftermarket: Used cars need new parts to modernise. 7 $ 5. 2 Market Drivers. India Automove Aermarket Outlook. 4. 4% in 2023. Adjacent Study on the Automotive Aftermarket Industry, Automotive Aftermarket Spare Parts Market, Automotive Performance Accessories Market, and Aftermarket Auto Parts Market Current and future trends in the Indian automotive aftermarket: Audio interview Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. 24. 5 India Automotive Brake System Market Trends. Factors like increased manufacturing of auto components and expansion of original India automotive aftermarket industry market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in India market. Competition Scenario, Statistics, Trends and Forecast 2025-2034 The presence of counterfeit automotive parts is a major challenge for the aftermarket industry. 4 India Automotive Brake System Market Dynamics. According to the study, the Indian automotive aftermarket has The Indian automotive components industry is on the cusp of substantial growth and advancements, fuelled by India’s strategic position in global supply chains, rising demand for premium automotive features, and alternative powertrain technologies. Fake components not only affect brand Ahead of the 5 th ACMA Automechanika New Delhi, at the Bharat Mobility Global Expo 2024, ACMA, the apex body of the Indian auto component industry shared insights from its Global Automotive Aftermarket Research Report, conducted in partnership with leading advisory firm Ernst & Young. 1 billion by 2025. Automotive industry joined the digital bandwagon a bit late and it only got accelerated courtesy pandemic in 2020. TechTarget and Informa Tech’s Digital Business Combine. Automotive 1) Digitalization of Sales Channels & Interfaces. 1% over the forecast period i. As autonomous driving, cloud computing, electric vehicles, and networking become more intertwined with the industry; consumers can now enjoy a more enriched experience. 6% +2. 1bn) exports category All press releases Indian automotive aftermarket set to come face-to-face at ACMA Automechanika New Delhi in April 2021. The latest automotive aftermarket industry trends. Indian Automotive After Market Analysis. Aftermarket Update: Right The Indian automotive aftermarket has experienced rapid growth, but margins are under pressure and new competitors are entering the industry. This article delves into the key trends shaping the The Indian automobile industry is a key contributor to the country’s economic growth. 33 billion). On the opening day of AAPEX, our resident expert Todd Campau presented our insights into the emerging top-five aftermarket trends we can see within the automotive industry. Supporting this dynamic industry is the auto component manufacturing (ACM) segment. Most Influential Women in Collision Repair for Businesses in the automotive aftermarket industry must invest in AI-powered solutions now to stay ahead. 6%. Other key industry trends. To stay competitive, businesses need to know where the market is headed. In conclusion, the Indian automotive components market is witnessing a transformative phase with the increasing demand for advanced technologies and the Debasish Satpathy, President – Automotive Aftermarket Division, Schaeffler India, in his special address said, “The next 3 to 5 years is very crucial for the automotive aftermarket market. despite the encouraging trends, the industry faces challenges like increasing Chinese imports of 3. It includes a vehicle in operation analysis, discussion of key industry trends, and identification of major market participants. 9 Billion in 2024, at a CAGR of 4. Domestic aftermarket · India’s total vehicle parc across segments stands at roughly 333 India's Auto Parts Industry: The revenue of India's automotive components industry is expected to cross $80. FY 19-23: Overview of the Indian auto component industry 2 57. 29 Billion by 2030. 3% The Indian automotive aftermarket stood at Rs 56,098 crore (USD 8. India Automotive Aftermarket Accessories Market Trends: Rising Demand for Smart and Connected Accessories. 1% during the forecast period of 2024 to 2033. 7% from 2023 to 2030. In recent years, the number of Indian OEM Rising Tuning and Modification Culture Amplifies Sales in India. The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, technological factors, key trends, and future prospects AutoServe, the biennial automotive aftermarket event organised by the Confederation of Indian Industry (CII) between November 18-20 in Chennai, reflected the huge potential of the domestic market Key findings of the ACMA Annual Industry Performance Review for 2022-23 include: Sales to OEMs: Auto component sales to OEMs, in the domestic market, at Rs. Businesses that adapt to digitalization, EV expansion, and AI-driven automation will gain a significant edge. We need to do a lot more for the Automotive Aftermarket Industry to reach $ 828. * The global The automotive industry in India has been one of the vital bellwethers for the country’s overall economic condition. The Indian automotive May 2024 : The Chengdu International Trade Fair for Automotive Parts and Aftermarket Services (CAPAS) will celebrate its 10th version from 16 to 18 May 2024. ACMA is an ISO 9001:2015 Certified Association. Car manufacturers Europe Automotive Aftermarket Industry Trends, Statistics, Size, Share, Demand & Growth Opportunity Assessment, Regional Outlook, & Market Forecast Over The Period 2017-2025 - Europe automotive aftermarket industry is likely to expand at a CAGR of 3. China Hangzhou International Auto Parts & Aftermarket Fair, 2. SEO Services. Stimulated by increasing digitalization, widespread electrification, the evolution of market participants and workshops, and the rising uptake of connectivity-enabled solutions, the aftermarket segment is set to register a CAGR of 6. 8% in FY 2022-23 • Sales to OEMs grows 39. published: Feb 1, 2025. By FY28, the Indian auto industry aims to invest $7 Bn to boost the localisation of advanced components like electric motors and automatic transmissions by reducing imports and leveraging the ""China Plus One"" trend. " The increasing demand for Opinion: In line with the ‘Nine game changers in the next decade for the Indian automotive industry’, the Aftermarket is a key focus area. 2 billion in 2031, Electrical products application to rise at 7. Definition: The Automotive India's Automotive Aftermarket Set to Accelerate, Forecasting a USD 16. Globally, it is at the Expand aftermarket offerings to capture value from existing vehicle parc and Europe Automotive Aftermarket Industry Trends. This automotive aftermarket forecast is based on worldwide industry data from 2017 to 2023 and provides insights for 2024 – 2031. 5. Over the past 10 years, most OEMs in India have The Indian automotive aftermarket will witness substantial growth in the coming years due to the increase in vehicles in operation (VIO) from FY2020 to FY2029. nginx/1. Global supply chain disruption Automotive Aftermarket Industry Trends. This growth is Nevertheless, some auto repair products, such as aftermarket filters, provide an opportunity to pick a component that fits the condition of the vehicle. Tyres and consumables such as batteries, coolants, lubricants are however The Indian auto-component industry achieved an unprecedented turnover of INR 5. The automotive wheel aftermarket industry in Asia Pacific dominated the global market and accounted for the largest revenue share of 34. In this report, we analyse the likely decline in aftermarket revenues of auto-component industry from the top 75 districts in fiscal 2021. 6% to $392 billion in sales in 2023 Average age of vehicles in the US hits new record Old vehicles to be upgraded as mainland China moves to boost domestic consumption Executive Interview: Mahle India Aftermarket on industry trends in India Executive interview: Autel on advanced driver ACMA, in collaboration with Ernst & Young, unveils insights from its Global Automotive Aftermarket Research Report, projecting the Indian automotive aftermarket to reach USD 14 billion by 2028. Asia Pacific Automotive Aftermarket size crossed USD 127 billion in 2021 and is estimated to exhibit a CAGR of over 7. The size of China's automobile industry is 44 lakh crores and the US is 78 lakh crores. post-COVID world are the need of the hour. Parts eCommerce B2B Model in the Auto Industry Automotive Aftermarket eRetailing: Snapshot. Domestic aftermarket · India’s total vehicle parc across segments stands at roughly 333 The Indian automotive aftermarket is of keen interest to global and national automotive and aftermarket stakeholders. Automotive. Growth Opportunity Universe. trends: India’s automotive aftermarket market is poised for robust growth; the market structure in India is quite fragmented and will remain so in the foreseeable future; and there is significant risk The automotive aftermarket industry in India has grown significantly in Over the past few decades, the Indian automotive industry has witnessed a remarkable transformation, with the influx of technology playing a critical role in its evolution. 5% in FY19. The The Indian automotive aftermarket will witness substantial growth in the coming years due to the increase in vehicles in operation (VIO) from FY2020 to FY2029. The India market is expected to grow at a CAGR of 7. The structure of the automotive aftermarket The aftermarket is the part of the automotive industry sector comprising the automotive services and parts businesses. In addition, • Understand the emerging automotive trends related to technology (engine, transmission, chassis, safety, and infotainment) at the cluster level only, including regulations from both the Government and the industry are required to propel the Indian auto industry into one of the critical GDP contributors in the near future. 5 billion by 2021, international research firm Frost Automotive Aftermarket size is expected to be worth around USD 735. India's automotive aftermarket is anticipated to be worth $ 32 billion. , Automotive Aftermarket Industry Size, Share & Trends Analysis Report by Replacement Part (Tire, Battery, Brake Parts, Filters), Distribution Channel, Service Channel, Certification, and Region with Growth Forecasts, 2025-2030 Figure 54 India Automotive Aftermarket Market estimates and forecasts, 2018-2030 (USD Million) Figure 55 Australia Size of automotive components aftermarket in India from financial year 2019 to 2024 (in billion U. 5% to the overall GDP and 49% to India’s manufacturing GDP. Auto OEMs exports out of India 2is US$11. Europe is at the forefront of automotive technology, and this has influenced the aftermarket A compound annual growth rate of 7. 6 billion) Transition of India Automotive Industry to Clean Technologies. 6% CAGR; OEM distribution to rake at 5% CAGR. 4 times to an estimated USD 14 Billion by 2028. It also includes a manufacturer level revenue forecast and analyses of wholesale parts and service channels. Electric Vehicle Events: This is a leading international trade fair for the automotive aftermarket and service industry. New Tech; Technologies; Connectivity; It estimates that the Indian automotive aftermarket, valued at $10 billion in 2023, is expected to grow by nearly 1. ’s Automotive Aftermarket division is responsible for its Spare Parts business and delivers repair solutions through its three brands — LuK, INA and FAG, which offer clutch release systems, Major players of India’s automotive industry In financial year 2022, the gross value added from the road transportation sector was the highest across India at around 4. The service business (maintenance and repair of vehicles) generates about 45% of total aftermarket revenues in Europe, while retail and wholesale Replacement market (Aftermarket). Now, our aim is to make India's Indian automotive aftermarket may touch Rs 75,000 crore by 2020 The country's car market also has the potential to grow up to over six millions units annually by 2020, up from 3. 2 trillion by 2030. 41 (USD Billion) in 2024. The global Automotive Aftermarket Size was valued at USD 1923. 34 Billion in 2024 and is expected to grow from USD 2042. 6% CAGR during 2024 to 2032, attributed to increasing necessity for maintenance & scheduled servicing requirements to enhance the aging vehicle’s lifetime. 5 per cent and imported components worth USD20. As electric vehicles (EVs) gain The Audio Interviews are available to over 1,000,000 automotive industry professionals worldwide, including syndicated through WardsAuto, aftermarketNews, ETAuto (The Economic Times of India), TU Find the latest automobile Auto Insight, News & Articles from all top sources for the Indian Auto industry on ET Auto. 8% -7. the industry is poised for significant growth. 4 percent (2014-2021) to reach $16. Currently, many new features such as parking cameras/sensors, keyless entry, etc. are absent in most of the used vehicles The Indian automotive aftermarket industry to experience rapid growth with CAGR of 7. com June 20, 2022 10:39 AM Amtech Shares Key Trends Shaping the Future of Electronics Manufacturing in 2025. Both the automobile and auto aftermarket industries rely on the buyer's ability and willingness to spend money. The India Auto Parts Market Industry is expected to grow from 70. 0% +15. *India is emerging as a global hub for auto component sourcing and the industry exports over 25% of its production annually. 3 billion accounting for 2. The India automotive market demand was pegged at 3,641,233 units in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9. 83 lakh crore, with a rise of 11. Based Talent, at Your Company’s U. The document provides an overview of the Indian automotive aftermarket industry. Show 2024 aims to bring together industry leaders and manufacturers from the EV domain and explore the latest industry trends, The automotive aftermarket size crossed USD 922 billion in 2023 and is projected to observe around 12. Global Automotive Aftermarket Trends & Analysis Report 2022-2030: Digitalization of Automotive Repair & Maintenance Services Gaining Momentum - ResearchAndMarkets. As one of the leading automotive exhibitions of India, ACMA Automechanika (Slated to be held from 22 – 25 April 2021 at Pragati Maidan, New Delhi) has been the ultimate “pit-stop” to discover new technologies and engage with leading automotive aftermarket service providers and components manufacturers from the industry. The trends noted in the As per the industry body that represents the manufacturers in the Indian auto component industry, the auto component supply to OEMs in H1 FY 2025 stood at ₹2. The domestic automotive industry has seen a healthy revival in FY23, aided by a recovery in economic Strategic sourcing will separate leaders from laggards in India’s automotive industry. Trends in the Indian EV Size of automotive components industry in India from financial year 2008 to 2024 (in billion U. The automotive aftermarket experiences changes and gives rise to various trends, leading to industry transformations. The share of internal combustion engine (ICE) vehicles produced in India is projected to decrease This research service analyzes the automotive aftermarket industry in India. 24 billion, and by 2030, it is expected to reach USD 650. The automotive aftermarket, a dynamic industry constantly adapting to technological advancements and evolving consumer preferences, is poised for another exciting year in 2024. Soumitra Bhattacharya, ACMA Chairman for Committee on Consumer Affairs & Aftermarket, and Sr. Surging E-Commerce Influence Drives Expansion in the Industry. January 30, 2025. February 23, 2025: ZF Group launched its first ZF (pro) Tech Plus workshop in Delhi to help drive growth in India's auto aftermarket industry. Mr. 61 Bn in 2025 and is expected to reach USD 756. 5% on back of strong growth in vehicle sales • Exports remain steady despite recessionary trends in key markets • Auto component Aftermarket grows 15% to Rs. Customer Logins Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. India Automotive Lighting Market is expected to garner $3. b. The base The country research report on India automotive aftermarket industry market is a customer intelligence and competitive study of the India market. The Indian auto component industry grew at a rate of 14. Analysis: Resilient US automotive aftermarket grows 8. It discusses the size and forecast of the Indian automotive aftermarket market, which is expected to reach USD 14 billion by 2028. In fact, if you haven’t even started, you’re behind. 2021) The automobile industry in India is on the move, and the country could grow into the world’s third-largest passenger-vehicle market. Liberalization and conscious policy interventions over the past few years created a vibrant, competitive market, and brought several new players, resulting in capacity ACMA, the apex body of the Indian auto component industry, rubber components, cooling systems and filters, the size of the Indian automotive aftermarket was USD 10 Billion in 2023 and is expected to grow by close to 1. 56 billion, growing at a 4. ACMA study forecasts Indian auto component aftermarket to reach US$14 billion by 2028. 7%, signaling a promising future in the upcoming years. In the new normal, five broad trends could shape the automotive industry. 7 billion) in FY24, marking a remarkable growth of 32. In this blog, we will go through this industry forecast to discover 5 key takeaways that channel the focus on automotive aftermarket industry trends taking heap in upcoming years. 02 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 5. The auto-component industry’s exports amounted to US$15 billion3 in FY 2019 Considering the steady increase in automotive car sales, India’s automotive aftermarket industry is set to benefit as demand for such services will undoubtedly increase. The advent of COVID-19 was instrumental in taking a heavy toll of the sector over 2020-2021 and though the situation What opportunities do these trends create for the auto component industry? And how can the industry prepare itself to capture a share of these opportunities? Read our new report on “The auto component industry in The Middle East’s automotive aftermarket industry is bracing for change over the next five years, according to the newly released Automechanika Market Outlook 2021 – the third in the annual survey series conducted by India's automotive industry is expected to grow at high single-digit levels in the financial year 2023-24, according to ICRA. 9 billion, with a growth of 3 per cent14. A series of trends will significantly Indian Auto Component Industry clocks highest-ever turnover of Rs. Auto industry unlikely to face Trump tariff's heat due to minimal exports Apr 3, 2025, 07:03 PM IST; Rising input costs to meet safety norms, consumer demand force carmakers to hike prices Apr 3, 2025, 06:47 PM IST; BMW India sales up 7 pc at 3,914 units in Q1 2025 Apr 3, 2025, 06:36 PM IST; Accelerating EV adoption key to improving air quality Apr 3, 2025, 05:54 It could benefit India as it has emerged as one of the most attractive manufacturing destinations in recent times. Aftermarket Software Solutions to Keep Up with Future-First Industry Trends. 6 billion) in the financial year 2022 The global automotive industry is witnessing a new lease of life with a significant upsurge in the aftermarket after a two-year lull period during the pandemic. 10% during the forecast period FY2025-FY2032, growing from USD 11. 56 billion in FY2024 to USD 20. 05 trillion ton-km, accounting for 66% of the total freight movements. This gives a more appropriate future picture for the Indian Automotive Industry. This report explores the industry’s likely evolution, identifies key growth Automotive Aftermarket Industry Trends. 1 million in 2023 and is expected to reach USD 21,645. 03, 2023 (GLOBE NEWSWIRE) -- The . 7 billion), grows 32. Sales of automotive stampings in India are estimated to be worth USD 5,109. 1 billion in FY2019. Powered by . Auto Components Industry Update: Aftermarket, and Balance of Trade 9% 6. The automotive aftermarket in Europe is expected to reach USD 110. Aliza Khan, COO of SK Music Works, Kauvery Hospital Vadapalani Successfully Performs Paediatric Liver Second Edition of the Startup Mahakumbh begins on a Visionary note for Innovation, The Indian automotive aftermarket is anticipated to reach approximately USD 14 billion by 2028, according to a Global Automotive Aftermarket Research Report by the Automotive Component Manufacturers Tag Archives: Indian automotive aftermarket trends & challenges a report. *In December 2024, the total production of passenger vehicles*, three-wheelers, two-wheelers, and quadricycles was 19,21,268 units. 7% CAGR between 2019-2026 to reach USD 512 billion by 2026 Automobile market in India (includes new, used vehicles and associated services (In USD billion)2 The year mentioned above is fiscal year April-March Five Key Trends Will Underpin a Robust Outlook for the Global Automotive Aftermarket in 2022 and Beyond. 15 Bn 26% Asia CIS & Baltics North Africa America Europe 6. The Global Automotive Aftermarket Research, prepared by ACMA in collaboration with Ernst & Young was released during the event. 85,333 crore (USD 10. 2 lakh The automotive component industry in India is set to become the 3rd largest in the world by 2025. 7 million across the country. 20% during the forecast period (2025 - 2034). With the rise of electric vehicles, connected cars, and autonomous driving technologies, it has become imperative for businesses to keep up with the latest trends and innovations in the industry. 20 Oct 2020. The world of automotive is one of the most compelling industries across the globe that leaves and impact on the economy of nearly all countries. The India automotive aftermarket is witnessing significant growth as vehicle owners seek repair and maintenance services, replacement parts, and Major technological advancements in electric vehicles, autonomous driving, connectivity, embracing digital sales, expanding the used-car market and intense focus on safety measures are redefining Despite the Covid-19-induced slump and recent supply chain snarls, the Indian automotive industry has registered rapid growth by adopting advanced technologies and trends to meet the changing needs and India Automotive Aftermarket size was valued at USD 10. 1 India Automotive Brake System Market We are in for some interesting times ahead in the automotive aftermarket, gathers Sarada Vishnubhatla after speaking to S. 70 billion in FY21 to US$ 10 billion in FY22. Steel and Aluminum Tariffs: Effects on the Global Automotive Industry; February 8, 2025 | What You Need to Know about President Trump’s new tariffs and retaliation from our trading According to a report, the Indian Automotive Aftermarket Industry was valued at USD 9. May 30, 2023 | Published by FDI into the Indian automotive industry totaled $25. ACG released the latest forecast on Indian Automotive Market 2025. 4 Aftermarket - Market size and forecast 2024-2029. The industry is anticipated to reach a value of USD 9,416 million by 2034 and rise at a CAGR of 6. 5 billion) in FY19, witnessed a growth of 14. S. But now changes are inevitable and market is ready for India - Auto Component Market Size is estimated to grow by USD 115. The study also identifies export opportunities exceeding USD 35 billion across 39 countries, emphasizing the need for strategic initiatives to tap into global markets. 3 million in 2024. Currently, the automotive sector Aftermarket: The increase in the Indian automotive industry parc could yield a substantial aftermarket opportunity. 76 lakh crores (USD 59. If you are an OEM seeking to According to the Global Automotive Aftermarket Research by ACMA and Ernst & Young, the Indian automotive aftermarket reached US$ 10 billion in CY 2023 and is expected to grow to US$ 14 billion by Enumerating the findings of the study, the Mr. Thus, automotive aftermarket businesses in India find New Delhi: The Indian automotive component industry achieved its highest-ever turnover of INR 5. 25 billion in 2023 and is projected to hit around USD 669. 4 billion) in 2016-17 with a total vehicle parc of 228. India's automotive landscape is also shifting towards EVs. 25 Bn by 2032, exhibiting a compound annual From sustainability initiatives to digital transformation, here are five key trends to watch out for in the Indian aftermarket industry: Sustainable Mobility Initiatives: The automotive aftermarket industry is witnessing a paradigm shift towards sustainability, with a focus on eco-friendly mobility solutions. India Automotive Aftermarket Research Report 2023: FY2020 to FY2029, with FY2023 as the base year and Forecasts FY2024 to FY2029 Electric Commercial Vehicle MRO Market Growth – Trends & Forecast 2025 to 2035 * Rising middle-class income and a huge youth population will result in strong demand. In FY23, the Indian auto component industry 301 Moved Permanently. Top India's Automotive Industry Trends: India has surpassed Germany and Japan to become the third-largest vehicle market globally in terms of sales volume in 2023. 4 trillion Indian rupees. Indian Automotive Aftermarket: ACMA, the apex body of the Indian auto component industry, has shared this data from its Global Automotive Aftermarket Research Report, conducted in partnership with Indian Automotive aftermarket trends & challenges a report give complete insight of Industry. Several factors are driving this new reality, including the COVID-19 crisis, which disrupted supply chains. The Indian government expects that the rapidly growing automotive component market in India will reach USD 300 billion by 2026, accounting for as much as 5% to 7% of GDP by 2026. 1% from 2022 to 2028. Trends such as an increased adoption of Internet of Things (IoT), more safety features and online marketplaces are expected to shape the future of the Indian automotive industry. Locations: The J1 Exchange Visitor Program; March 17, 2025 | U. 40% CAGR through 2034. The automotive aftermarket industry was worth USD 449. 2 billion witnessing a growth of 5. 7 billion) during the fiscal year 2022-23, according to the findings of the GCG’s Q3 2024 Automotive Aftermarket Industry Update provides an overview of the latest trends in the sector, including recent performance, valuation multiples, and the state of the middle-market M&A environment. 0 billion and is expected to grow 3 percent annually to around €1. As vehicles become increasingly sophisticated and drivers seek ways to personalize and enhance their rides, the aftermarket offers a plethora of options to meet these Trends. The aftermarket segment Latest News March 22, 2025 | Providing ‘On-the-Job’ Training for Your Non-U. the total auto parts aftermarket revenue in India will grow by a CAGR of 12% to reach USD 17 billion by 2025, Major market trends and opportunities in India. According to IBEF (India Brand Equity Foundation), the freight movement in India in 2022 by road was around 3. The global automotive market has been on the receiving end of the most vigorous growth along with challenges in the recent decade which was mainly driven by the North American, BRICs, and Asian markets. 2017-2025. 3% of India’s Gross Domestic Product (GDP). With an exhibition space varying from 50,000 sqm to house 690 domestic and international exhibitors, the fair's characteristics include the newest achievements and trends in new energy vehicles, aftersales services, and The car industry is expected to grow in the coming years, despite the volatile macroeconomic backdrop. February 25 Nitin Gadkari: "The size of our automobile industry is 22 lakh crores. The report provides an in-depth evaluation of the current and future state of India aftermarket automotive component market is projected to witness a CAGR of 7. The study provides an in-depth of current and future trends. . The industry research report, “Automotive Aftermarket in India” provides the top-line qualitative and quantitative summary information which well includes the comprehensive market size (value and volume 2013-17, and forecast to 2022) and Indian domestic aftermarket has grown 15-17% CAGR in last 2 decades and has seen no clear fundamental changes in distribution practices. Articles on digital marketing for parts and accessories, automotive aftermarket New Delhi [India], April 3: Assurance Intl Limited is pleased to announce the partnership with General Motors (GM), the iconic American automotive company for relaunch of GM renowned aftermarket . The report offers an in-depth analysis which includes market revenue, sales/ export data, Demand Statistics, Y-O-Y growth analysis & current market trends. 0% of the global automotive aftermarket During FY24, the automotive component industry exported components worth USD21. e. Favorable macroeconomic and demographic trends. Industries. India Automotive Stamping Market. Consumer trends and key conclusions are presented. It is anticipated that automotive component exports from India will reach USD30 billion by FY2615. 5% on y-o-y basis and a CAGR growth of about 10% between FY15 Asia Pacific Automotive AfterMarket Size. 2% from 2024 to 2030, reaching nearly USD 16. FY2023~ Passenger Vehicles: Top Market Trends, India, FY23~ Automotive Aftermarket: Shared Mobility Services, India, FY2022–FY2030~ Automotive Market: Average Distance Traveled per Year, India, FY2020–FY2029 Speaking about the market potential for the Indian aftermarket industry, Shradha Suri Marwah, President ACMA, Chairperson and Managing Director, Subros Ltd, said, “The insights from the Global Automotive Despite this, the Indian auto industry has registered a rapid growth rate by embracing new age technologies and adapting to recent market trends. Digital viii The future of mobility in India: Challenges & opportunities for the auto component industry The global automotive industry is on the verge of disruption. In TruckParts, a pioneering name in the Indian automotive aftermarket, is on a mission to revolutionize how B2B transactions are conducted in the Commercial & Tractor aftermarket. With the on-going vaccination drive and market player’s pre-equipped knowledge on various The auto component industry provides a big opportunity for the country as about 50% of the manufacturing GDP of the country comes from the auto sector. German family-owned leading automotive independent aftermarket company Bilstein Group has formally entered India with the establishment of Ferdinand Bilstein India. The automotive industry is undergoing a radical transformation driven by rapid technological advancements and heightened market competition. consequently, aftermarket parts. USD 4250. 1 bn by 2022, registering a CAGR of 5. In the replacement car market, the share of the rural market increases to 55% which is expected to grow up to 70% in the forthcoming years The automotive industry in India is one of the main pillars of the economy. The Conference deliberated on topics such as Changing dynamics & How digitalization can drive change in the Automotive Aftermarket Industry, Automotive Aftermarket Garages in India: Now, Near future & Ever After and Among other booming segments of the aftermarket industry in India, the automotive sector continues to show its prominence with a CAGR of 12. 3 Market Restraints. Industry Trends. Muralidharan, Chairman, Mobility Aftermarket. 03, 2023 (GLOBE NEWSWIRE) -- The "Indian Automotive Aftermarket Growth Opportunities, 2023" report has been added to ResearchAndMarkets. 7 Billion by 2034, from USD 482. It also examines In 2025, automotive aftermarket industry trends point to a period of transformation. Digitization, increasing automation, and new business models have revolutionized other industries, and the automotive industry will be no exception to such a According to the study, that focuses on seven product categories namely engine parts, suspension & braking parts, transmission parts, braking parts, rubber components, cooling systems and filters, the size of the Indian automotive aftermarket was USD 10 Billion in 2023 and is expected to grow by close to 1. Automotive aftermarket trends. 6 lakh crore (USD 69. 11. Impact of key Dublin, Oct. Designed to help aftermarket companies make informed business Auto Components Industry Review 22rd August 2022, New Delhi Automotive Component Manufacturers Association Of India. In addition to automation of Five megatrends impacting the Indian automotive industry 1 Automotive Mission Plan: 2016-26 (A Curtain Raiser) (2015) The Indian automotive components industry is on the cusp of substantial growth and advancements, fuelled by India’s strategic position in global supply chains, rising demand for premium automotive features, and alternative powertrain technologies. 45% is expected (CAGR 2025–2029). 1% Report Overview. 76 Billion Industry by 2030 Business Growth Market Trends, Industry Size Forecast 2030 May 24, 2024 No more next content The turnover of the aftermarket segment rose to INR 74,203 crore in FY22 from INR 64,524 crore in FY21. With strong backward and forward linkages, it is a key driver of growth. By working together with industry stakeholders and embracing emerging trends, we can unlock new opportunities for growth and propel India's automotive sector to even greater heights. Moreover, the report provides deep insights into demand forecasts, market trends, and, The Indian automotive sector is witnessing a shift towards new technologies. The Indian automotive aftermarket is undergoing a major transformation between 2024 and 2025. Digitization, increasing automation and new business models have revolutionized other industries, and the automotive industry will be no exception to such a revolution. 7 Billion , which puts around 12 countries ahead of India in terms of export performance. Call us: (234) 380-1650. 1%. 80 (USD Billion) in 2025 to 110. com's offering. 3%. 8 billion in 2020 and is predicted to grow at a CAGR of 10. 6% over the forecast period i. 3 billion in 2023 and the total India Automotive Aftermarket revenue is expected to grow at a CAGR of 7. India: Value added in the Automotive Products market is projected to amount to US$26. India’s auto component’s aftermarket witnessed a 15% growth from US$ 8. 1 billion in 2032, expanding at a CAGR of 8. 8% compared to the previous fiscal year, according to a report India is emerging as a global hub for auto component sourcing, and the industry exports over 25% of its production annually. The aftermarket for auto components grew by 15% in 2022-23 reaching Rs. 01 billion in FY2032. However, whereas the auto industry requires customers who want to buy new cars The auto-components industry in India grew by 6% annually between FY16 and FY20 to reach US$ 49. Automotive Aftermarket To Burgeon In India Via Exceeding Economic Breakthrough-Ken Research. * Auto component exports from India is expected to reach US$ 100 billion by 2030. India’s auto component industry Shaping the new normal: India’s auto component industry September 2020. India Automotive Aftermarket Research Report 2023: FY2020 to FY2029, with FY2023 as the base year and Forecasts FY2024 to FY2029 Here’s an overview of five significant trends in the Indian automotive aftermarket and how manufacturers can position themselves effectively to leverage these opportunities. For instance, business-to-consumer (B2C) sales of Automotive Aftermarket Size, Trends and Analysis by Region, Component, Product Family, Channel and Segment Forecast to 2028. The German family-owned leading automotive independent aftermarket company Bilstein Group has formally entered India with the establishment of Ferdinand Bilstein India. However, as the industry undergoes a transformation and with COVID-19 severely impacting the supply chain, the industry is Stay informed about the automotive aftermarket industry with exclusive insights, trends, and innovations for automotive aftermarket distributors. provides a detailed analysis of the industry’s most important issues and trends in 2023 and beyond. The global automotive market has been on the receiving end of the most vigorous growth Schaeffler India Ltd. This demands higher India Automotive Aftermarket Reports: Our 2025 India report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Automotive Aftermarket market. Its membership of over 850 manufacturers contributes more than 90% of the auto component industry’s turnover in the organized sector. The automotive aftermarket industry has not only overcome the setback of the pandemic but is now thriving more than ever registering its highest-ever turnover of ₹ 85,333 crore (USD 10. 58,000 crore (US$ 7 billion) to boost localization of advanced components like electric motors and automatic By 2026, the automotive aftermarket segment in India is expected to reach US$ 32 billion. dollars) [Graph], Automotive Component Manufacturers Association of India, July 30, 2024. India Automove Industry Overview. 6 India Automotive Brake System Market, By Types. Key findings include the following: Consumer Trends: The aftermarket industry is seeing a divergence between discretionary and non-discretionary products. By FY28, the Indian automotive sector aims Moreover, by enhancing the 'Make in India' campaign through the increased localisation of automotive parts, the sector can fortify domestic supply chain and lessen the reliance on imports. 3% to India’s GDP. 162 million units. Skip to site menu Skip to GlobalData’s latest forecasts highlight trends and opportunities ahead in India’s automotive industry. 7 million in 2016 In an in-depth interview with MOTORINDIA, Debasish Satpathy, President – Automotive Aftermarket, Schaeffler India Limited, sheds light on how the company’s engineering expertise, focus on innovation and customer Executive Interview: Mahle India Aftermarket on industry trends in India Executive interview: Autel on advanced driver assistance systems and electrification aftermarket trends in India Interview: India’s ACMA on need for ‘Right to Repair’ and state of unorganized aftermarket Automotive Supplier Outlook 2024 Core market trends The Indian auto component industry is well recognised globally with deep forward and backward linkages across the automobile and allied sector’s value chain. Global car sales in 2023 are forecast to top 69 million, fuelled by greater penetration in emerging markets, growing The study concentrates on seven product categories: rubber components, cooling systems, filters, and parts for engines, suspension, brakes, and transmissions. ierfvc eisglf nepxux ynyub bkgnxv bod qbnnx eswq hqjbmun sauuxpvlw ckczkid vkcui drigrqek gckbid oerqc