India Auto Parts Market Overview

The India Auto Parts Market is witnessing significant growth due to the increasing demand for automobiles, technological advancements, and government initiatives promoting local manufacturing. The auto components industry in India contributes substantially to the country's GDP and is an essential part of the global supply chain. With a strong network of manufacturers, suppliers, and distributors, the market is poised for further expansion. The rising adoption of electric vehicles (EVs) and the growing focus on sustainability are also key factors driving the market forward.

India’s auto parts market encompasses a wide range of products, including engine components, transmission parts, suspension systems, braking systems, and electrical parts. The industry is driven by both domestic demand and exports, with major global players sourcing components from Indian manufacturers. The introduction of new emission norms and safety regulations has also led to the advancement of auto parts technology, ensuring compliance with international standards.

The Indian government’s initiatives, such as the Production Linked Incentive (PLI) scheme and Make in India campaign, have further boosted the auto parts industry. Investments in research and development (R&D) are growing, leading to innovations in lightweight materials, smart components, and automation in manufacturing processes. Additionally, the aftermarket segment is flourishing, driven by the increasing vehicle parc and the need for replacement parts.

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Market Share by Market Research Future

According to Market Research Future, the India auto parts market is expected to grow at a significant CAGR over the forecast period. The market share distribution is influenced by various factors, including vehicle production, technological advancements, and the expansion of domestic and international players. The passenger vehicle segment holds the largest share, followed by commercial vehicles and two-wheelers.

The original equipment manufacturer (OEM) segment dominates the market, driven by increasing vehicle production and strong collaborations between global automakers and Indian suppliers. The aftermarket segment is also growing steadily, fueled by rising vehicle maintenance requirements and the availability of cost-effective auto parts. Export opportunities are expanding, with Indian manufacturers supplying components to leading automotive brands worldwide.

Government policies, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, have accelerated the adoption of EV components, leading to increased investments in battery technology, power electronics, and charging infrastructure. The rising penetration of advanced driver assistance systems (ADAS) and smart automotive technologies further contribute to the market’s growth.

Key Companies in the India Auto Parts Market

Several key companies play a crucial role in the India auto parts market, contributing to its expansion and technological advancements. Some of the leading players include:

• Bharat Forge Limited – A leading manufacturer of forged components for the automotive industry, specializing in chassis and engine components.
• Bosch Limited – A global leader in automotive technology, providing solutions for mobility, electrification, and automation.
• Motherson Sumi Systems Limited – A major supplier of wiring harnesses, polymer products, and other critical auto components.
• Mahindra CIE Automotive Limited – A key player in the production of castings, forgings, and stampings for automotive applications.
• Endurance Technologies Limited – A well-known manufacturer of suspension, braking, and transmission components.
• Amara Raja Batteries Limited – A prominent supplier of lead-acid batteries for automotive and industrial applications.
• TVS Group – A diversified conglomerate involved in manufacturing auto components, including brakes, filters, and drivetrain systems.
• Varroc Engineering Limited – Specializes in automotive lighting, electronics, and polymer components for global automakers.
• Gabriel India Limited – A key producer of shock absorbers and suspension systems for two-wheelers and four-wheelers.
• Rane Group – Manufactures steering and suspension components, friction materials, and other critical automotive parts.

These companies, along with many others, are driving the innovation and growth of the Indian auto parts market through strategic investments, collaborations, and technology-driven solutions.

The India Auto Parts market is expected to witness sustained growth, driven by increasing vehicle production, advancements in technology, and supportive government policies. With a strong manufacturing base, expanding exports, and rising demand for electric and smart vehicle components, the market holds significant potential for further development. As industry players continue to innovate and adapt to changing market dynamics, India is set to strengthen its position as a global leader in the auto components sector.

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