Auto Component Market in India 2016-2020

  • Published: Jun 2016
  • Pages: 88
  • SKU: IRTNTR9390

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The auto component market size in India has the potential to grow at a CAGR of around 19% by 2020. The market’s growth momentum will accelerate throughout the forecast period because of the steady increase in the year-over-year growth. This report provides a detailed analysis of the market by component (engine, suspension, and braking parts, body, chassis, and equipment, drive transmission and steering parts, electrical part, and others), vehicle type (passenger cars, commercial vehicles, and 2/3 wheelers), and end-user (OEMs and aftermarket). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Bharat Forge, Bosch India, Minda, Samvardhana Motherson, and TVS.

Overview of the auto component market in India

Technavio’s indian auto component industry analysis has predicted that the market will grow steadily at a moderate CAGR of around 19% by 2020. Production capacity expansion outpacing domestic consumption will drive export-oriented growth in the coming years and will be one of the major factors that will have a positive impact on the component market growth in the coming years. Cost-efficient operations and acceptable quality have increased export volumes for the auto components to global OEMs (original equipment manufacturer). Moreover, recent regulations that facilitate 100% foreign direct investment in the automobile industry will attract more joint ventures and wholly owned subsidiaries. This will augment export growth to OEMs in global markets. 

Factors such as the rising vendor consolidation, faster replacement market growth, increasing localization, export-oriented growth, and growing electronic content per vehicle have induced the Indian auto component segment to continue to grow much faster than the OEM segment. This, in turn, will invite more exports to OEMs from auto component manufacturers.



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Segmentation by component and analysis of the auto component market in India

  • Engine, suspension, and braking parts
  • Body, chassis, and equipment
  • drive transmission and steering parts
  • Electrical parts

Accounting for almost 42% of the total share of the auto component industry in India, during 2015, the engine, suspension, and braking parts segment dominated the auto component market in India. Various initiatives by the government to incubate complex skill sets in the automotive industry and the evolution of automotive clusters will augment the growth of this market segment.

Segmentation by end-user and analysis of the auto component market in India

  • OEMs
  • Aftermarket

According to the Indian auto component industry analysis, the OEM segment will dominate the global auto component industry in India throughout the forecast period and account for about 89% of the total market share by 2020. As a result of improvements in the perceived quality of Indian products, the industry has transitioned from supplying primarily to the aftermarkets to catering to OEMs across the globe. This shift toward OEMs will continue to fuel the growth of the automobile component market in the coming years as well.

Competitive landscape and key vendors

Owing to the presence of several auto component manufacturers, auto components industry appears highly fragmented. Geographical presence and penetration in the auto component market are identified to play a critical role in defining the market position of a vendor. The increase in demand and the presence of major vendors looking to gain a considerable share of the market are likely to intensify vendor competition in the next four years.

The leading vendors in the market are -

  • Bharat Forge
  • Bosch India
  • Minda
  • Samvardhana Motherson
  • TVS

The other prominent vendors in the market are Amara Raja, Amtek Auto, Exide Industries, Federal Mogul, Gabriel India, JBM Auto, JMT Auto, Precision Camshafts, Sona Group, Suprajit Engineering, and WABCO India.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the auto component market in India?
  • What are the key market trends impacting the growth of the auto component market in India?
  • What are the challenges to market growth?
  • Who are the key vendors in the auto component market in India?
  • What are the market opportunities and threats faced by the vendors in the auto component market in India?
  • Trending factors influencing the market shares of India.
  • What are the key outcomes of the five forces analysis of the auto component market in India?

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Automotive components can be categorized into two segments – OEM components and components for the aftermarket. All the parts that go into manufacturing a vehicle are considered OEM components. Whereas, the parts that are equipped to the vehicle post its purchase, along its economic lifetime, are considered as components for the aftermarket. Bosch India and Motherson Sumi Systems are some of the key players in this market space.

The report, auto component market in India, is part of Technavio’s automotive research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as auto accessories, automotive components, automotive electronics, automotive manufacturing, automotive services, powertrain, and wheels and tires. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Report coverage
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Quality framework
  • Policy and regulatory frameworks
  • Value chain analysis of the Indian auto component industry

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis
  • SWOT analysis

PART 06: Market and technology trends

  • Technological trends
  • Market trends

PART 07: Key growth trends and their drivers

  • Indian auto component industry to enter a cyclical upward trend
  • Indian auto component segment to continue to grow faster than the OEM segment

PART 08: Key market challenges

  • Proposal for industry-wide RFID implementation as a solution

PART 09: Other market challenges

  • Institutional and infrastructural challenges like high customs duties and erratic power supply to the industry

PART 10: Market segmentation by geography

  • Market overview
  • Market share growth: Cluster-wise

PART 11: Market segmentation by component

  • Market overview
  • Market size and forecast

PART 12: Market segmentation by vehicle type

  • Market overview
  • Market size and forecast
  • Growth dynamics: Vehicle segment-wise

PART 13: Market segmentation by end-user

  • Market overview
  • Market share dynamics between OEMs and the aftermarket
  • Market size and forecast: Overall revenues
  • Market size and forecast: Exports revenues
  • Market size and forecast: Domestic revenues

PART 14: Vendor landscape

  • Competitive benchmarking
  • Other prominent vendors

PART 15: Key vendor analysis

  • Bharat Forge
  • Bosch India
  • Minda Group
  • Samvardhana Motherson Group
  • TVS Group

PART 16: Appendix

  • List of abbreviations

PART 17: Explore Technavio


Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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