India Motor Vehicle Parts Market (2024-2030) | Outlook, Growth, Forecast, Value, Size, Share, Industry, Trends, Revenue, Analysis & Companies

India Motor Vehicle Parts Market Synopsis

India motor vehicle parts market size was valued at $XX billion in 2020 and is expected to reach $XX billion by 2026, growing at a CAGR of XX% during the forecast period 20210-2026. The Indian automotive industry has been one of the largest contributors to the country?s economy and accounts for about 7.3 percent of India`s GDP. This growth can be attributed to increasing purchases of new vehicles fueled by rising disposable income and favorable government policies such as Goods & Services Tax (GST). Furthermore, growing demand for convenience features in cars is fuelling growth in motor vehicle components production across India.

Drivers of the Market:

Some factors that are driving the market include easy availability, competitive pricing, technological advancements, low maintenance cost etc. With an increase in number of vehicles on roads and aftermarket sales for these vehicles there are more opportunities related to automobile parts replacement or retrofitting which increases sale of spare parts leading to increased revenue generation from this sector. Additionally rise in urbanization as well as economic development also plays a key role due to changing lifestyles offering greater purchasing power among consumers resulting into higher demand for luxury cars with advanced safety technologies like airbags & anti-brake systems requiring installation & fitting services further boosting automobile part segment growth prospects over next few years .

Trends of the Market:

The most notable trend observed recently is that companies are increasingly focusing on developing electric vehicles along with improvement in their existing product line up which will require additional fittings/parts thus creating demand within automotive component industry thereby expanding overall sector scope over coming years . Moreover rapid industrialization coupled with strict government norms regarding emission control will lead towards adoption of latest technologies like AI enabled auto-driving system significantly impacting future business strategies within automotive spare parts domain.

Challenges of the Market:

The major challenge faced by this market includes stringent regulations imposed on manufacturing activities as well as imports especially concerning emission levels which if not met can result into hefty fines . Moreover high capital investments required for setting up large scale production units can act as deterrent factor while establishing new ventures restricting potential entrants from participating within space . Besides high competition witnessed between already established players leads towards reduction in profit margins making it difficult even for prominent vendors within space leading them towards diversifying sources through mergers & acquisitions or collaborative projects so that they remain competitive amid intensifying rivalry scenario.

Key Highlights of the Report:

• India Motor Vehicle Parts Market Outlook
• Market Size of India Motor Vehicle Parts Market, 2023
• Forecast of India Motor Vehicle Parts Market, 2030
• Historical Data and Forecast of India Motor Vehicle Parts Revenues & Volume for the Period 2020-2030
• India Motor Vehicle Parts Market Trend Evolution
• India Motor Vehicle Parts Market Drivers and Challenges
• India Motor Vehicle Parts Price Trends
• India Motor Vehicle Parts Porter's Five Forces
• India Motor Vehicle Parts Industry Life Cycle
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Type for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Motor Vehicle Body, Metal Stamping & Other Parts for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Motor Vehicle Engine, Power Train & Parts for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Passenger Vehicle for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Commercial Vehicle for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Industrial Vehicle for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By End-users for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By OEM for the Period 2020-2030
• Historical Data and Forecast of India Motor Vehicle Parts Market Revenues & Volume By Aftermarket for the Period 2020-2030
• India Motor Vehicle Parts Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By End-users
• India Motor Vehicle Parts Top Companies Market Share
• India Motor Vehicle Parts Competitive Benchmarking By Technical and Operational Parameters
• India Motor Vehicle Parts Company Profiles
• India Motor Vehicle Parts Key Strategic Recommendations

Frequently Asked Questions About the Market Study (FAQs):