Lewes, DE -- (SBWIRE) -- 07/06/2016 -- Report forecast the auto component market in India to grow at a CAGR of 19.31% during the period 2016-2020.

The Indian auto component industry offers a distinct competitive advantage in terms of cost and quality and this has helped its transformation from a local supplier (to the indigenous auto component industry) to a global supplier of auto parts that caters to big brands in the global automobile industry.

A prime example of the confidence that global OEMs have in Indian auto component manufacturers is the recent $2.5-billion (INR 15,400 crores) order bagged by India-based Motherson Sumi from Germany's Daimler. The contract involves the supply of exterior and interior systems designed to equip future Mercedes-Benz vehicles. The order is expected to commence from 2018.

The report covers the present scenario and the growth prospects of the auto component market in India for 2016-2020. To calculate the size of the market, we have considered the yearly revenue data for Indian auto suppliers.

The market is divided into the following segments based on zones:
- North
- East
- West
- South

According to the report, a key growth driver is the rising exports by the Indian automotive industry. India has emerged as a car manufacturing hub for global automotive majors, particularly in the small vehicles segment. This, along with the rising quality levels of Indian auto ancillaries, has driven Hyundai, Nissan-Renault, and Ford, among other automakers to set up production facilities in India for global distribution. A significant part of Hyundai and Nissan vehicles produced in India are now exported. From about 3%-5% in the early 2000s, nearly 16% of total passenger vehicles produced in India are now headed for export markets. Other than cars, India is also an export hub for other vehicle segments like two wheelers, three wheelers, and tractors, which indicates ample growth opportunities for this sector.

Further, the report states that one challenge that could negatively impact market growth is the proliferation of counterfeit components.

Auto Component Market in India 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the auto component market in India: Bharat Forge, Bosch India, Minda Group, TVS Group, and Samvardhana Motherson Group.

Other Prominent Vendors in the market are: Amara Raja, Amtek Auto, Exide Industries, Federal Mogul, Gabriel India, JBM Auto, JMT Auto, Precision Camshafts, Sona Group, Suprajit Engineering, and WABCO India.

Market driver
- rising exports by the Indian automotive industry
- For a full, detailed list, view our report

Market challenge
- Counterfeit component parts
- For a full, detailed list, view our report

Market trend
- ightweighting in component redesign and innovation in the manufacturing
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 88 pages and 58 Exhibit "Auto Component Market in India 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market and technology trends, Key growth trends and their drivers, Key market challenges, Other market challenges, Market segmentation by geography, Market segmentation by component, Market segmentation by vehicle type, Market segmentation by end-user, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/auto-component-market-india-2016-2020

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