The Indian automotive
aftermarket stood at Rs 56,098 crore (USD 8.4 billion) in 2016-17 with a total
vehicle parc of 228.7 million across the country. The Indian automotive
aftermarket is expected to reach Rs. 75,705 Crore (USD 13 billion) by 2019-20
exhibiting a CAGR of 10.5%.
These were the findings of a
study conducted by Automotive Component Manufacturers Association of India
(ACMA), the apex body of the Auto Component Industry in India entitled ‘Indian
Automotive Aftermarket; The Road Ahead’.
The study takes a holistic
view of the aftermarket business potential with the growing impact of urbanisation
in terms of changing customer preferences, choice of vehicle ownerships,
evolving taxi market and a rise in pre-owned car segment. The study also
highlights the average vehicle age in India and changing replacement
frequencies and servicing patterns in passenger vehicles, two wheelers,
commercial vehicles, tractors and off roads.
Frost & Sullivan, ACMA’s
knowledge partner for the study conducted an extensive research through a wide
coverage of interviews and data collection from various stakeholders in India.
Some of the key findings of
the study include:
• The current total vehicle
population in the country is estimated at around 228.7 million vehicles
according to State Transport Authorities across the country
• In the passenger vehicle
segment, the genuine OE spares account for around 40% of the total components
consumption while the remaining 60% is split evenly between IAM (Independent
After Market) branded parts and U-parts (Parts from Unorganised segment)
• The IAM branded parts
consumption is highest in the CV segment, estimated at 50% of the total
consumption, while the tractor segment exhibits the highest consumption of
U-parts at 40%
• Maharashtra shows the
highest number of registered 2 wheelers, 3 wheelers and commercial vehicles
• The NCR(Northern Capital
Region) region shows the highest population of passenger cars, with Maharashtra
• The NCR region and Greater
Chennai have the highest population of 2 wheelers at 6.1 million and 5.1
• Greater Mumbai has the
highest number of 3 wheeler registrations at 3,65,500 vehicles
• The highest commercial
vehicle registrations are noted in the NCR region, Greater Hyderabad, Greater
Mumbai and Bengaluru
• Bhatinda and Ferozpur have
the highest tractor populations at 72, 900 and 71,000 units respectively
• Of the total Indian
aftermarket, 2 and 3 wheeler segments accounts for around Rs 12,038 Crore,
while the passenger car segment accounts for around Rs 18,970 Crore, commercial
vehicle for around Rs 19, 748 Crore and tractor for Rs 5,342 Crore
• Gujarat features in the top 5 states for
replacement market across all vehicle segments, while Maharashtra features in
the top 5 across all vehicle segments except for the tractor segment
• The penetration of
counterfeit auto components has drastically reduced from 36% 2010-11 to 5% in
2016-17, however their place has been taken up by U-parts.
The report concludes with the
coverage on the alternate fuel technologies in India, growing localisation of
products and affordability of such new age technology in vehicles.
The research process comprised
a blend of primary and secondary research. Primary research included in-depth
interviews with over 1,100 respondents across the country. The sample covered
all the key stakeholders of the automotive component aftermarket, namely,
distributors, wholesalers, retailers and mechanics with even coverage across
the different vehicle segments. The sample for the field research was spread
across 60 locations.
The findings from the field
research were further validated through in-depth interviews with automotive
industry experts from vehicle manufacturers and automotive component
manufacturers. The vehicle parc figures used in the study were estimated based
on the data obtained from the individual State Transport Authorities.
Extensive consultations were
undertaken with the ACMA members to verify all the research findings and ensure
that they were reflective of the true realities of the automotive component
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