Indian auto parts aftermarket business to worth $ 16.5 billion by 2021: Frost & Sullivan

Indian auto parts aftermarket business to worth $ 16.5 billion by 2021: Frost & Sullivan
June 8, 2019 GAE
In GAE

Total manufacturer-level auto parts revenue in India will grow by a CAGR of 12.4 percent (2014-2021) to reach $16.5 billion by 2021, international research firm Frost & Sullivan said.

In specific demand for routine maintenance parts such as motor oil, wiper blades and brake pads will increase at least 10 times faster across India than in North America and Europe.

The poor condition of roads and, consequently, the increased wear and tear of automobile parts are heightening the need for vehicle maintenance in India.
Along with the country’s rapidly emerging status as the manufacturing hub for global automakers, this is strengthening the automotive aftermarket in India.

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