NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/06/23 - Rising sales of automobiles along with increasing rural demand will drive auto components sales to grow at double-digit CAGR by 2013-14, says RNCOS.
According to our recent research report, “India Auto Component Market Analysis”, over the past few years, Indian auto component industry has gained a significant growth momentum from de-licensing of industries. In a response to relaxed regulations, easing FDI policies and support to the industry, production and sales both have achieved double-digit CAGR growths in last 4-5 years. Research further reveals that rising sales of automobiles in the country will continue to sustain higher levels of auto component demand, which is poised to grow at 13.8% CAGR during 2010-11 – 2103-14.
The research infers that industry’s organized sector is comprised of nearly 600 companies providing direct employment to more than 2.5 Lakh peoples. However only 9% companies belong to organized sector, but their share in total industry output is substantial. In the coming years, we anticipate this share to increase further, supported by various factors discussed and analyzed in the report.
On the export front, India is gradually positioning itself as a trusted name in global auto component industry. In the recent years, auto component manufacturers are gradually moving up in the value chain. Their share of supply to OEMs in total exports is increasing and supply to the aftermarket is decreasing. Attributes like improving component quality, cost effectiveness even at lower level of production levels are differentiating Indian component suppliers from their foreign counterparts. The trend is expected to prevail in future also, which will strengthen the industry outlook in the country.
“India Auto Component Market Analysis” is an outcome of extensive research and thorough analysis of the fast-growing auto component industry potentials in India. The report discusses the market structure, current and past market performance and factors critical to the success of the concerned industry in India. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of the leading players operating in the sector.
Moreover, the report also gives industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian auto component industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.