NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/07/27 - The auto component production in India is expected to grow at a CAGR of around 15% during FY 2011–FY 2014 on account of low production costs and increasing demand from the automobile industry.
According to our new research report “India Auto Component Market Analysis”, India’s fast and continuous economic growth has proved highly beneficial for its auto component industry. With advantages like low labor cost, easy availability of raw materials and well-qualified employees, India has established a solid platform for the growth of auto component suppliers. The report has also revealed that various supporting factors such as increasing demand from the domestic automobile industry and surging exports will support the auto component production grow at a CAGR of around 15% by FY 2014.
The research has identified that the industry sustained its positive growth momentum even in the tough economic conditions. In fact, the Indian auto component manufacturers achieved one of the world’s most impressive EBIT and ROCE results in 2009, showing their strong strategic performance, attractiveness and resilience. The rapidly growing industry is expected to be recognized internationally, with India’s share in the global auto component industry projected to reach above 5% by 2020.
Further, most of the OEMs have planned to expand their bases in India to serve the growing domestic market, which will create a huge demand for auto parts in coming years. Sensing the future demand, many companies, including Chrysler, Robert Bosch etc, are planning to pour huge investments into the country. These market developments will lead the auto component industry to achieve most dynamic growth during our forecast period (FY 2011–FY 2014).
“India Auto Component Market Analysis” provides extensive research and thorough analysis of the Indian auto component industry and its components. The report gives historical and latest information about the market structure, production, sales, exports, imports, investments etc. Moreover, the report includes the business description and strategies of the key industry players to provide a balanced market intelligence of the Indian auto component industry.
Most importantly, the report has also given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis that 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.