MMR, global market research and consulting organization, has released a new study titled “Auto Parts ECommerce Aftermarket market – Global outlook to 2027″. Industries’ constant focus on reducing the operational cost and increased attention on core business, and the need to improve scalability are expected to shape the India Automotive After market to grow at a CAGR of %.
India Automotive After Market : is expected to reach US$ 2.20 Bn by 2026, at a CAGR of 8.15% during the forecast period.
According to an Analyst at MMR, the India Automotive After market will experience significant growth during the forecast period due to potential opportunities lying in the market. The market drivers are:
COVID-19 Impact:
Our team is working on the COVID 19 impact on various industry verticals and provide authenticate data to the client this data helps us understand the market situation. To understand the influence and factors of the COVID 19 on the India Automotive After market with our expert monitoring which explains all the impacting factors and COVID impact on each key player are explained in the report.
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Market Segmentation:
The selling of bogus goods and products under the name of reputed brands is bringing a huge financial loss to the original brands but also posing a great risk to the Indian economy. Smooth transition to the electronic powertrain is one of the vital challenges for the Indian auto after-market sector in the forecast. For small players in the segment, it would be the biggest challenge to technologically adapt themselves for EVs. Also with BS IV implementation, the real challenge for auto after-makers would be to technologically upgrade themselves to manufacture components complying with BS VI standards.
Among products types, tire accounted for 80 % share followed by lighting & electronic component and Brake parts. Tires are an essential part of the vehicle, ensuring tires condition is essential for the vehicle’s safety as it helps to improve gas mileage and performance. Increased consumer awareness, the adoption of new tire technology in spite of higher costs are considerably greater in the passenger vehicle (PV) segment.
The market is divided into main 5 regions and they are North America (U.S., Canada), Europe (U.K., Germany, France, Italy), Asia Pacific (China, India, Japan, Singapore, Malaysia, South Korea), Latin America (Brazil, Mexico, Argentina, Chile), and MEA (Saudi Arabia, South Africa, Egypt) respectively. The MMR Company provides government regulation and pricing analysis of each and everyone that helps to understand the market situation and current competition in the market.
Key Players:
• Tata Auto Component Systems
• Minda Industries Limited
• Continental AG
• 3M
• Delphi Automotive PLC
• Denso Corporation
• Federal-Mogul Corporation
• Magneti Marelli S.p.A.
• Goodyear Tire & Rubber Company
• ZF Friedrichshafen AG
• COOPER TIRE & RUBBER COMPANY
• Robert Bosch GmbH.
• thyssenkrupp
• Volkswagen India
• Daimler AG
• Genpact
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The report provides a detailed analysis and forecast of the industry covering the following key features:
- Industry outlook includes current and future market drivers, restraints, trends, challenges, emerging technologies, and recent developments.
- Key industry developments and key insights
- Significant marketing factors such as driver, restraints, opportunity, and challenges
- Number of significant companies and their revenue and net income
- Other market trends
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