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India's economic growth, higher disposable incomes, and greater consumer awareness have spurred the demand for features such as adjustable headlights, parking sensors, safety systems, airbags, climate control, and infotainment in passenger vehicles (PVs). Original equipment manufacturers (OEMs) are increasingly converting optional passenger vehicle components to standard features to meet these expectations and expand their customer base.
New analysis from Frost & Sullivan (automotive.frost.com), Comparative Analysis of Features in the Indian Passenger Vehicle Market, finds that auto dimming mirrors are expected to be a preferred feature across most segments. Rear parking sensors will become a standard fitment in the high-end trim level models in the compact, super compact, and mid-size segments. The study also found that rear view cameras will soon be a regular component in mid-size models.
"Women drivers favor automatic transmission systems that facilitate better handling of congested traffic conditions, making these the most installed solutions in compact and mid-size vehicles," said Frost & Sullivan Research Analyst. "Bluetooth and navigation devices have also become popular due to heavy traffic and poorly structured road conditions in India."
Regulations will require all Indian cars to implement anti-braking systems by 2014-15 and, in turn, increase the use of associated features such as electronic stability program and brake assist. Airbags will see a surge in installations as they too become mandatory by 2015-16.
The growth of the Indian PV market and the entry of major global OEMs have led to an increase in the number of vehicle launches and upgrades, enhancing the application scope of sophisticated vehicle features. However, slow technology transfer from the West and the low acceptance of new technology by price-sensitive customers compel OEMs to develop innovative strategies to ensure the uptake of new components.
"To overcome these challenges, market participants and the Government are looking to control the escalation of prices and address infrastructure requirements," concluded the Analyst. "Better infrastructure and the growing acceptance of vehicle telematics will improve the marketability of advanced vehicle features and drive market growth."
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Comparative Analysis of Features in the Indian Passenger Vehicle Market is part of the Automotive & Transportation Growth Partnership Services program. Frost & Sullivan's related research services include: Automotive Navigation and Telematics Services Market in Western and Eastern Europe and Russia, North American and Latin American Automotive Navigation and Telematics Services Market, European Trailer Telematics Market, and European Medium- and Heavy-duty Commercial Vehicle Telematics Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Comparative Analysis of Features in the Indian Passenger Vehicle Market / P602-18
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