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Auto Parts Manufacturing Industry. Production of Automobile Components. Profitable Automotive Spare Parts, Auto Component Industry.

Tuesday, February 13, 2018

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India is fast emerging as a global hub for sourcing auto parts. The auto components industry accounts for almost seven per cent of India’s gross domestic product (GDP) and employs as many as 19 million people, both directly and indirectly. The automobile components industry contributes towards 25.6% to the manufacturing GDP and 3.8% to the national GDP, proving indirect employment to 1.5 million people.

There are several aspects that impact the growth of the global auto parts manufacturing market. Factors such as rising demand for high energy density batteries, manufacturing of brake pads with reduced level of copper and heavy metals, growing inclination towards technologically advanced products, wider scope for pumps as technology gains high traction, expansion and collaboration among manufacturers to increase market reach, increasing automotive production, increasing demand for lithium batteries and rising automotive production and vehicle parc are boosting the growth of the global auto parts manufacturing market.

The auto-components industry accounts for almost seven per cent of India’s Gross Domestic Product (GDP) and employs as many as 19 million people. India is expected to become the 4th largest automobiles producer globally by 2020 after China, US & Japan. The auto components industry is also expected to become the 3rd largest in the world by 2025.

Fastest growing major economy in the world with GDP growth rate of above 7%.A growing working population and an expanding middle-class are expected to remain key demand drivers. The growth of global Original Equipment Manufacturers (OEMs) sourcing from India and the increased indigenization of global OEMs is turning the country into a preferred designing and manufacturing base.

Indian Automobile industry is flourishing its twigs worldwide and is close to a fruition of triumph in the global competition. The spine of the industry is its suppliers of auto components and accessories which is also an exclusive industrial segment. Today auto industry is enjoying the benefits while the auto component sector is in its gloom despite of hard efforts of survival. The revenue growth will be also be supported by steady increase in commodity prices and consequent impact on realization.

The growth in the auto component industry will be relatively higher than the underlying growth in the automotive industry in the medium to long term, due to increasing localization by original equipment manufacturers (OEM) s, higher component content per vehicle and rising exports from India.

The Indian auto-components industry has experienced healthy growth over the last few years. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.

A stable government framework, increased purchasing power, large domestic market, and an ever increasing development in infrastructure. India has been an upcoming hub for the auto components industry. The rapidly growing end user market, redesigned consumer sentiment and a clear liquidity in the financial system are said to be the drivers for this.

The Indian auto components industry has been experiencing a healthy growth over the last few decades. Some of the factors attributable to this include: a buoyant end-user market, improved consumer sentiment and return of adequate liquidity in the financial system.

The Automobile market is fast evolving into a competitive and increasingly sophisticated arena. The needs of the customers are being met with greater efficiency and customization. Almost all the major Global players in the Automobile and auto-components industry are setting up manufacturing plants in India to meet the domestic as well as global demand.

Growing demand for vehicles in the country can be attributed to increasing population base and rising purchasing power of the people. Moreover, India is a prominent exporter of automobiles to various countries across the globe. As a result of rising demand for automobiles from domestic as well as international markets, demand for automotive components in India is expected to grow during the forecast period.

The global auto component market experienced moderate growth over the last five years and is expected to continue its growth momentum reaching approximately $730.8 billion in 2017 with a CAGR of 3.2% over next five years (2012-2017).

The global auto component market is a highly diversified sector that involves engine and auto component manufacturers, including aftermarket parts manufacturers, suppliers, dealers, and retailers. The manufacturing of auto components is gradually shifting toward Asian countries such as China, India, and others because of higher market potential and the low-cost manufacturing options available. In China and India, OEMs are focused on helping the suppliers improve and grow their businesses. Strong growth in the industry has attracted a pool of companies, including major foreign companies, to operate in China’s auto component market. The growing importance of electronics and functional integration of green components and sustainable products will drive growth in the industry.

 

The Complete Book on Production of Automobile Components & Allied Products

About the Book

Author:                B.P. Bhardwaj

ISBN:                   9789381039335

Book Code:          NI262

Pages:                  536

Indian Price:        2,275/-  

US$:                     200-

Publisher:            Niir Project Consultancy Services

 

The Complete Book on Production of Automobile Components & Allied Products

(Engine Parts, Piston, Pin, Piston Ring, Valve, Control Cable, Engine Mounting, Auto Lock, Disc Brake, Drum, Gear, Leaf Spring, Shock Absorber, Silencer, Chain, Cylinder Block, Chassis, Battery, Tyre & Flaps)

The rapid urbanization, coupled with an overwhelming growth in the middle class population, has created a market that is extremely conducive for the automobile industry to flourish. It is inferred from the demand, the investment in the automobile industry is estimated at over hundredths of billions in the vehicles and auto components segment. The auto market is thought to be made primarily of automakers, but auto parts makes up another lucrative sector of the market. The major areas of auto parts manufacturing are: Original Equipment Manufacturers (OEMs) - The big auto manufacturers do produce some of their own parts, but they can't produce every part and component that goes into a new vehicle; Replacement Parts Production and Distribution - These are the parts that are replaced after the purchase of a vehicle.

The book provides a characterization of vehicles, including structure, load, fuel used, requirement of various components, fabrication and so on. It will prove to be a layman’s guide and is highly recommended to entrepreneurs, existing units who wants to diversify in production of automobile and allied products, research centers, professionals and libraries, as it contains information related to manufacturing of integral parts of an automobile and practices followed in the finishing of the products.

 

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Contact us:

Niir Project Consultancy Services

An ISO 9001:2015 Company

106-E, Kamla Nagar, Opp. Spark Mall,

New Delhi-110007, India.

Email: npcs.ei@gmail.com  , info@entrepreneurindia.co

Tel: +91-11-23843955, 23845654, 23845886, 8800733955

Mobile: +91-9811043595

Website: www.entrepreneurindia.co  , www.niir.org

 

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