As per the research done by the Technavio’s market research team, there will be steady growth rate of around 19% till 2020. The major factors that will contribute to the growth of the auto component manufacturing industry include the exports owing to the increase in the consumption pattern of the components. The Auto components manufacturers in India can be divided into two aspect based on the end user:
2. After market
It is believed as per the study that OEM will be dominating in the growth percentage calculated as supra. OEMs will be 89% of the market share thereby enhancing the identity of the automobile industry all over the world
The vendors will be benefited out of the market trend if the export and the domestic consumption goes the way, it is supposed to be. If the streamline persists, India will rock as the largest in the automobiles.
Auto components manufacturers in India for avtec