Automotive Market In India: Mobility, Make In India & Semiconductors Significant Drivers

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Automotive Market in India size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 9.49% through 2020 to 2026, reaching US$ XX Mn.

Automotive Market in India

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Automotive Market in India Overview:

The Indian automotive OEM industry is already in a robust position. Worldwide, it is at the front of many sectors leading in two-wheelers, segment cars, & tractors. The industry aims to nearly triple vehicle sales by 2026, from 26 Million to 65 Million to 76 Million vehicles, through segments. These could be definitive tailwinds for the Indian automotive components industry, which has ambitions of its own by 2026 to double the input to manufacturing GDP with a four-fold development in size & a six-fold development in exports.
Make in India:

Huge goal ahead for automotive OEMs & component manufacturers:

Automotive Market in India1
Auto Component manufactures Aspiration:

Automotive Market in India2

The automobile industry in India is the world’s 4th largest. India ...
... was the world's 4th leading manufacturer of cars & 7th leading manufacturer of commercial vehicles in the year 2019. Indian automotive industry (including component manufacturing) is estimated to reach US$ XX Bn by 2026. The industry involved Foreign Direct an investment worth US$ 24.5 Bn between April 2000 & June 2020 accounting for ~5 percent of the total FDI. Local automobile production improved at 2.36 percent CAGR between FY16-FY20 with 26.36 Mn vehicles being manufactured in the country in the year 2020. Total, local automobiles sales increased by 1.29 percent CAGR between FY16-FY20 with 21.55 Mn vehicles being sold in FY20.
SHARE OF EACH SEGMENT IN TOTAL PRODUCTION VOLUME FY20:

Automotive Market in India3

Two-wheelers & passenger vehicles lead the local Indian auto market. Passenger car sales are led by small & mid-sized cars. Two-wheelers & passenger cars accounted for 80.8 percent & 12.9 percent market share, respectively, accounting for a mutual sale of over 20.1 Mn vehicles in FY20. Total, automobile export reached 4.77 Mn vehicles in the year 2020, rising at a CAGR of 6.94 percent during FY16-FY20. Two-wheelers made up 73.9 percent of the vehicles exported, followed by passenger vehicles at 14.2 percent, 3 wheelers at 10.5 percent & commercial vehicles at 1.3 percent.

The Government goals to develop India as a global manufacturing & R&D hub. It has set up National Automotive Testing & Research & Development Infrastructure Plan centers as well as National Automotive Board to act as organizer between the Government & the industry. Under (NATRiP), 5 testing & research centers have been established in the country since 2015. NATRiP’s offer for Grant-In-Aid for test capability infrastructure for Electric Vehicle performance Certification from NATRIP Application Society” under Faster Adoption & Manufacturing of Hybrid & EV in India system was approved by Plan Implementation & Sanctioning Committee on January 03, 2019.

The Indian Government has also set up a determined goal of having only Electric Vehicles being sold in the country. The Ministry of Heavy Trades, Indian Government has qualified eleven cities in the country for the introduction of Electric Vehicles in their public transport system below the FAME system. The 1st phase of the system was extended to March 2019 while In February 2019, the Indian Government permitted the FAME-II system with a fund requirement of US$ 1.39 Bn for FY20-22. Under Union Budget 2019-20, the Indian government announced to deliver an additional income tax deduction of US$ 2146 on the interest paid on the loans taken to buying Electric Vehicles.

The report covers Commercial Vehicles, Passenger Vehicles, with detailed analysis Automotive Market in India industry with the classifications of the market on the Type, Application & region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it. The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced Type, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in four regions. The major states policies about manufacturing & Covid 19 impact on demand side are covered in the report.

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https://www.maximizemarketresearch.com/market-report/automotive-market-in-india/86126/
Scope of the Automotive Market in India: Inquiry before Buying

Automotive Market in India4
Automotive Market in India Key Players

• Tata Motors Ltd
• Maruti Suzuki India Ltd
• Mahindra & Mahindra Ltd
• Hero MotoCorp Ltd
• Bajaj Auto Ltd
• Ashok Leyland Ltd
• TVS Motor Company Ltd
• Eicher Motors Ltd
• Force Motors Ltd
• SML ISUZU Ltd.
• Honda Motor Co., Ltd.
• Hyundai Motor India
• Daimler AG
• Piaggio & C.S.p.a.
• Toyota Motor Corporation
• Volkswagen AG
• AB Volvo

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