As indicated in the latest market research report published by IMARC Group, titled "India Automotive Components Market Report by Vehicle Type (Passenger Cars, Two-Wheelers, Three-Wheelers, Light Commercial Vehicles, Medium and Heavy Commercial Vehicles, Off the Road Vehicles), Component (Engine Parts, Body and Chassis, Suspension and Brakes, Drive Transmission and Steering Parts, Electrical Parts and Equipments), Demand Category (OEM, Replacement), and Region 2025-2033," the report presents a thorough review featuring the India automotive components market growth, share, trends, and research of the industry.
Market Size & Future Growth Potential:
The India automotive components market size reached USD 55.90 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 80.53 Billion by 2033, exhibiting a growth rate (CAGR) of 4.14% during 2025-2033.
Latest Market Trends:
The India Automotive Components Market is witnessing a watershed transformation. Technology evolution and changing consumer preferences have triggered a model shift towards electric vehicle components. Suppliers are now focusing on the development of advanced batteries, e-Drivetrains, and power electronics, in a bid to gain an important share of the nascent but rapidly growing electric vehicle market. The need for improved fuel efficiency and stricter emissions control policies, such as BS6, have required alternative lightweight materials such as high-strength plastics and aluminum alloys. Smart technology is expected to be standard equipment, rather than an option on premium vehicles, which is driving the development of electronic components.
Smart technologies are also being used for Advanced Driver Assistance Systems (ADAS) and connected car features, such as in-vehicle infotainment (IVI) systems. Additionally, Industry 4.0, automation and global supply chain strategies have been adopted to improve productivity, reduce the cost of manufacturing as well as improve quality standards of the products. Exports have increased greatly as Indian auto components manufacturers have exhibited their engineering skills, competitive costs and compliance to the quality standards of Original Equipment Manufacturers (OEMs) worldwide. This has made India a destination of choice for global sourcing.
Market Scope and Growth Factors:
The growth of the India Automotive Components Market is likely to be supported by the following fundamentals: sustained production and sales of passenger and commercial vehicles, large and constantly growing vehicle parc, steady requirement of OEM components and continuous high volume demand of automobile spare parts used for replacement and repair. This stable platform is further increased by the government's flagship initiatives such as the PLI scheme for Automobile and Auto Components which encourages local manufacturing of advanced automotive components, leading to huge foreign investment in the automotive sector.
Accompanied by the increasing disposable income of the middle class, the rising aspirations for automotive safety, comfort, infotainment and connectivity features are driving the complexity and cost of components used in automotive applications. The government's move to electrify cars and two-wheelers through schemes like FAME II is also a meaningful catalyst. The sector is set to create a brand new and high growth vertical for the manufacturers of EV specific auto components. With the industry becoming a globally competitive player in quality and cost, the auto component players will have a diversified revenue stream, insulated from domestic cyclicality, thereby ensuring long-term sustainable growth in the global markets.
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Recent News and Developments:
- Government PLI Scheme Success: The Production Linked Incentive scheme has attracted actual investments of ₹20,715 crore as of September 2024, generating incremental sales of ₹10,472 crore in the automotive components sector
- Investment Milestone Achievement: India and Mexico topped global automotive investments in H1 2025 with 22 and 34 projects respectively, driving USD 55.2 billion in global investment commitments
- EV Component Manufacturing Surge: India produced 1 million electric vehicles in 2024, creating substantial demand for specialized EV components and battery management systems
- Technology Partnerships: Japan announced plans to invest ₹5,95,884 crore (USD 68 billion) over 10 years in India, focusing on artificial intelligence and semiconductor technologies for automotive applications
- Production Growth: Total vehicle production across all categories reached 3,10,34,174 units in FY25, demonstrating robust demand for automotive components
- Incentive Disbursements: The government received incentive claims worth ₹322.12 crore from 4 PLI applicants during FY 2024-25, with ₹246.21 crore already disbursed to support manufacturing expansion
- Export Performance: The automotive components industry continues to maintain strong export performance, with over 25% of production being exported to international markets
- Sustainable Manufacturing: Leading manufacturers are increasingly adopting circular economy practices and incorporating recycled materials to meet stricter environmental regulations
India Automotive Components Market Outlook, Highlights & Segmentation Analysis:
Segmentation by Vehicle Type:
- Passenger Cars
- Two-Wheelers
- Three-Wheelers
- Light Commercial Vehicles
- Medium and Heavy Commercial Vehicles
- Off the Road Vehicles
Segmentation by Component:
- Engine Parts
- Body and Chassis
- Suspension and Brakes
- Drive Transmission and Steering Parts
- Electrical Parts and Equipments
Segmentation by Demand Category:
- OEM
- Replacement
Regional Analysis:
- North India
- South India
- East India
- West India
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key highlights of the Report:
- Historical Market Performance
- Future Market Projections
- Impact of COVID-19 on Market Dynamics
- Industry Competitive Analysis (Porter's Five Forces)
- Market Dynamics and Growth Drivers
- SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
- Market Ecosystem and Value Creation Framework
- Competitive Positioning and Benchmarking Strategies
Major Advantages of the Report:
- This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.
- Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.
- The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.
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- Extensive Industry Expertise
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