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(CityRegions.Com, January 25, 2017 ) The Indian auto component industry offers a distinct competitive advantage in terms of cost and quality and this has helped its transformation from a local supplier (to the indigenous auto component industry) to a global supplier of auto parts that caters to big brands in the global automobile industry. A prime example of the confidence that global OEMs have in Indian auto component manufacturers is the recent $2.5-billion (INR 15,400 crores) order bagged by India-based Motherson Sumi from Germanys Daimler. The contract involves the supply of exterior and interior systems designed to equip future Mercedes-Benz vehicles. The order is expected to commence from 2018.
Technavios analysts forecast the auto component market in India to grow at a CAGR of 19.31% during the period 2016-2020.
Covered : The report covers the present scenario and the growth prospects of the auto component market in India for 2016-2020. To calculate the size of the market, we have considered the yearly revenue data for Indian auto suppliers.
Segments based on zones: North East West South
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Technavio's report, Auto Component Market in India 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors Bharat Forge Bosch India Minda Group Samvardhana Motherson Group TVS Group
Other prominent vendors Amara Raja Amtek Auto Exide Industries Federal Mogul Gabriel India JBM Auto JMT Auto Precision Camshafts Sona Group Suprajit Engineering WABCO India
Key driver rising exports by the Indian automotive industry For a full, detailed list, view our report
Key challenge Counterfeit component parts For a full, detailed list, view our report
Key trend ightweighting in component redesign and innovation in the manufacturing For a full, detailed list, view our report
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Source: EmailWire.Com
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