India Automotive Aftermarket Outlook to 2030
Region:Asia
Author(s):Naman Rohilla
Product Code:KROD7921
December 2024
97
Scope of the Report
By Component | Batteries Tires Filters Brake Parts Lighting and Electricals |
By Distribution Channel | Online (E-Commerce Platforms) Offline (Retailers, Wholesalers) |
By Vehicle Type | Passenger Cars Light Commercial Vehicles (LCVs) Heavy Commercial Vehicles (HCVs) Two-Wheelers |
By Service Type | Maintenance Services Repair Services |
By Region | North India South India East India West India |
Products
Key Target Audience
Automobile Component Manufacturers
Aftermarket Service Providers
Vehicle Owners and Fleet Managers
Retailers and Wholesalers (Independent Garage Owners)
E-commerce Platforms (Auto Parts)
Investor and Venture Capitalist Firms
Government and Regulatory Bodies (Ministry of Heavy Industries, Automotive Research Association of India)
Banks and Financial Institutions
Authorized Dealerships and Service Centers
Companies
Players Mentioned in the Report
Bosch Ltd.
Exide Industries
MRF Ltd.
Amaron (Amara Raja Batteries)
TVS Group
Tata Motors Genuine Parts
Apollo Tyres
CEAT Tyres
Continental Automotive
Sundaram Fasteners
Table of Contents
1. India Automotive Aftermarket Overview
1.1. Definition and Scope
1.2. Market Taxonomy
1.3. Market Dynamics (Growth Drivers, Challenges, Opportunities)
1.4. Market Segmentation Overview
2. India Automotive Aftermarket Size (In USD Mn)
2.1. Historical Market Size
2.2. Market Growth Analysis (Component, Distribution Channel, Vehicle Type)
2.3. Key Market Developments and Milestones
3. India Automotive Aftermarket Analysis
3.1. Growth Drivers
3.1.1. Growing Vehicle Parc (Automobile Population)
3.1.2. Increased Vehicle Longevity (Parts Replacement Demand)
3.1.3. Rising Consumer Spending on Vehicle Customization
3.1.4. Government Regulations (Pollution Control, Mandatory Maintenance)
3.2. Market Challenges
3.2.1. Counterfeit Products (Impact on Genuine Parts Sales)
3.2.2. Unorganized Players (Fragmented Market)
3.2.3. Technological Shift (Electric Vehicle Adoption Impact)
3.3. Opportunities
3.3.1. E-Commerce Penetration (Online Parts and Service Sales)
3.3.2. Expansion into Tier-2 & Tier-3 Cities
3.3.3. Focus on Aftermarket Services for Electric Vehicles
3.4. Trends
3.4.1. Digitization of Services (Automated Diagnostics, IoT Integration)
3.4.2. DIY Culture Growth (Do-It-Yourself Auto Repair)
3.4.3. Aftermarket Consolidation (Mergers, Partnerships)
3.5. Regulatory Framework
3.5.1. Bharat Stage Emission Standards (Vehicle Emission Regulations)
3.5.2. Auto Component Certification Requirements
3.5.3. Guidelines for Authorized Service Centers
4. India Automotive Aftermarket Segmentation (In Value %)
4.1. By Component
4.1.1. Batteries
4.1.2. Tires
4.1.3. Filters
4.1.4. Brake Parts
4.1.5. Lighting and Electricals
4.2. By Distribution Channel
4.2.1. Online (E-Commerce Platforms)
4.2.2. Offline (Retailers, Wholesalers)
4.3. By Vehicle Type
4.3.1. Passenger Cars
4.3.2. Light Commercial Vehicles (LCVs)
4.3.3. Heavy Commercial Vehicles (HCVs)
4.3.4. Two-Wheelers
4.4. By Service Type
4.4.1. Maintenance Services
4.4.2. Repair Services
4.5. By Region
4.5.1. North India
4.5.2. South India
4.5.3. East India
4.5.4. West India
5. India Automotive Aftermarket Competitive Analysis
5.1. Detailed Profiles of Major Companies
5.1.1. Bosch Ltd.
5.1.2. Exide Industries
5.1.3. TVS Group
5.1.4. MRF Ltd.
5.1.5. Amaron (Amara Raja Batteries)
5.1.6. Sundaram Fasteners
5.1.7. Hella India Lighting
5.1.8. Mahindra First Choice Services
5.1.9. Hero MotoCorp
5.1.10. Bajaj Auto
5.1.11. Apollo Tyres
5.1.12. Continental Automotive
5.1.13. Tata Motors Genuine Parts
5.1.14. CEAT Tyres
5.1.15. SKF India
5.2. Cross Comparison Parameters (Revenue, Aftermarket Presence, Product Portfolio, Innovation, Distribution Network, Strategic Partnerships, Service Offering, Market Reach)
5.3. Market Share Analysis
5.4. Strategic Initiatives
5.5. Mergers and Acquisitions
5.6. Investment Analysis
5.7. Venture Capital Funding
6. India Automotive Aftermarket Regulatory Framework
6.1. Emission Standards
6.2. Certification Processes for Auto Parts
6.3. Compliance with Environmental Norms
7. India Automotive Aftermarket Future Market Size (In USD Bn)
7.1. Future Market Size Projections
7.2. Key Factors Driving Future Market Growth
8. India Automotive Aftermarket Segmentation (In Value %)
8.5. By Component
8.5. By Distribution Channel
8.5. By Vehicle Type
8.5. By Service Type
8.5. By Region
9. India Automotive Aftermarket Analysts' Recommendations
9.1. TAM/SAM/SOM Analysis
9.2. Customer Segmentation Analysis
9.3. Marketing and Branding Strategies
9.4. Market Entry Barriers
Research Methodology
Step 1: Identification of Key Variables
The first step of the research process involves identifying key variables that influence the India automotive aftermarket. This is done by mapping out the market ecosystem, which includes aftermarket service providers, part manufacturers, and end consumers. Secondary research and proprietary data are employed to gather extensive information on market dynamics.
Step 2: Market Analysis and Construction
This phase involves analyzing historical data to assess market penetration, consumer behavior, and revenue streams. The key market players service quality and product offerings are also evaluated to determine the overall market size and competitive landscape. This data forms the basis for market projections and service adoption rates.
Step 3: Hypothesis Validation and Expert Consultation
Market hypotheses are validated through consultations with industry experts via telephonic interviews. These experts include representatives from major aftermarket service providers and component manufacturers. Their insights provide firsthand information on market trends, growth drivers, and challenges.
Step 4: Research Synthesis and Final Output
The final phase involves synthesizing research findings and validating them with inputs from automotive aftermarket professionals. This ensures that the report offers accurate insights into the industry's future growth trajectory, consumer preferences, and potential market opportunities.
Frequently Asked Questions
01. How big is the India automotive aftermarket?
The India automotive aftermarket was valued at USD 10 billion and is supported by rising vehicle ownership, increased consumer awareness about vehicle maintenance, and the growing popularity of customization.
02. What are the major challenges in the India automotive aftermarket?
Key challenges in the India automotive aftermarket include the prevalence of counterfeit products, the fragmented nature of the market due to unorganized players, and the growing impact of electric vehicles on traditional components like engines and transmissions.
03. Who are the major players in the India automotive aftermarket?
Key players in the India automotive aftermarket include Bosch Ltd., Exide Industries, MRF Ltd., Amaron (Amara Raja Batteries), and TVS Group. These companies dominate through their extensive product portfolios, service networks, and strong distribution channels.
04. What are the growth drivers in the India automotive aftermarket?
The India automotive aftermarket is driven by an increasing vehicle parc, rising disposable incomes, consumer spending on vehicle maintenance and customization, and the growing importance of vehicle safety standards and performance.
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