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Global Automobile Industry
Global automobile industry has a very large scale of production yearly, an output of ~million cars in 2006 increased to ~million in 2007. The major automobile markets used to be in North America, West Europe, and Japan, however, the demands has been decreasing yearly in these regions. Comparatively, in China and India, the automobile market have risen rapidly and motivated the increase of their domestic car production.
Worldwide Automobile Component Market
The after-sale-market is made up of two parts: auto electronics and traditional automobile components. The auto electronics market is growing rapidly, while the market growth for components (other than auto electronics)
Global Market Size Estimate for Automobile Components (2005-2010E)
Automobile Sector in India
The Indian auto component Industry is highly fragmented, around ~ organised players account for ~percent of the value added in the sector. Unorganised players are mainly replacement market players or Tier 3/4 component manufacturers.
Domestic market share of automobile industry 2008-09:
The overall automobile sector in India has shown a continuous growth which reflects from the rise in production and sales volume. The major factor pushing automobile industry towards growth is rising two wheelers demand. Automotive chain is a hidden segment of the auto component industry, as companies prefer to import it from other regions.
The Indian Auto Component Sector consists of organised & unorganised players. The turnover of the organized sector reached over US$~ billion in 2008-09. OEM’s accounted for ~% of the sales, with replacement market accounting for ~% & exports accounted for over ~%.
Industry Product Range in 2008
Future Forecast of Indian Auto Component Industry
Indian auto component industry is expected to grow to US$~billion by 2015. The Indian auto component industry is well positioned to capitalise on the growth in outsourcing to low cost countries. Exports would lead the growth in the component industry, which is expected to be around US$~ billion by 2015, from the current size of roughly US$~ billion.
Projected Size of Auto Component Industry in 2015
The exports of auto components industry has reached around US$ ~ billion in 2008, having grown at a rate of nearly 30 percent CAGR over the last four years. The Indian auto component industry is well positioned to capitalise on the growth in outsourcing to low cost countries.
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