World Information

AUTOMOBILE COMPONENTS India’s export of auto components increased at a CAGR of 7.6% during FY16-FY20 as the value increased from US$ 10.83 billion in FY16 to US$  14.5 billion in FY20. The Indian auto-components industry has experienced healthy growth over the last few years. The auto-components industry expanded by a CAGR of 6% over FY16 to FY20 to reach US$ 49.3 billion in FY20. The industry is expected to reach US$ 200 billion by FY26.   Due to high development prospects in all segments of the vehicle industry, the auto component sector is expected to rise by double digits in FY22.  

AUTOMOBILE INDUSTRY IN INDIA India's electric vehicle (EV) market is estimated to be a Rs. 50,000 crore opportunity by 2025, with two- and three-wheelers expected to drive higher electrification of the vehicles . In 2020, India was the fifth-largest auto market, with 3.49 million units combined sold in the passenger and commercial vehicles categories. It was the seventh largest manufacturer of commercial vehicles in 2019.   The two wheelers segments dominate the market in terms of volume owing to a growing middle class and a young population. Moreover, the growing interest of the companies in exploring the rural markets further aided the growth of the sector.