India Automotive Components Market 2025-2033
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 55.90 Billion
Market Forecast in 2033: USD 80.53 Billion
Market Growth Rate: 4.14% (2025-2033)
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.
India Automotive Components Market Trends:
The automotive components market in India is undergoing some exciting transformations, fueled by changing consumer preferences, technological breakthroughs, and supportive government policies. A major trend we're seeing is the growing popularity of electric vehicles (EVs), which is driving the demand for specialized parts like battery packs, electric drivetrains, and advanced charging systems. On top of that, there's a heightened emphasis on sustainability and fuel efficiency, prompting manufacturers to use lighter materials such as aluminum and composites to cut down on vehicle weight and enhance fuel economy. Plus, the increasing incorporation of cutting-edge technologies like autonomous driving, artificial intelligence, and the Internet of Things (IoT) in vehicles is ramping up the need for high-tech components, including sensors, infotainment systems, and advanced driver assistance systems (ADAS).
Additionally, initiatives like "Make in India" are reshaping the supply chain by encouraging more local production of components. The automotive industry's move towards greater automation in manufacturing is also impacting the component market, as robotics and automation technologies become essential for boosting production efficiency. All these trends point to a rapidly changing landscape for automotive components in India, driven by innovation, sustainability, and evolving market needs.
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India Automotive Components Market Scope and Growth Analysis:
The India automotive components market is experiencing rapid growth, thanks to the country's strong automotive manufacturing sector, which is becoming a key player for both local and international demand. As vehicle production and sales in India rise, they are directly fueling the expansion of the automotive components market. Government initiatives like the Automotive Mission Plan and the Production-Linked Incentive (PLI) scheme are encouraging investment in the domestic automotive manufacturing landscape. On top of that, the increasing interest in electric vehicles is creating fresh opportunities for component suppliers, including those who make batteries, electric motors, and power electronics. The demand for advanced automotive components is also on the rise, driven by a focus on safety, comfort, and connectivity features, such as airbags, infotainment systems, and sensors.
Additionally, the growth of shared mobility services is ramping up the need for fleet vehicles and the components required for their upkeep. With more people looking to customize their vehicles and disposable incomes on the rise, there's a growing market for premium vehicle components. As India continues to establish itself as a global hub for automotive manufacturing, the automotive components market is set for ongoing growth, propelled by technological advancements, government backing, and increasing consumer demand.
India Automotive Components Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India automotive components market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Vehicle Type Insights:
Component Insights:
Demand Category Insights:
Regional Insights:
Competitive 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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Other key areas covered in the report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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