India Automotive After Market Size & Outlook, 2023-2030
India automotive aftermarket market, 2017-2030 (US$M)
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India automotive aftermarket market highlights
- The India automotive aftermarket market generated a revenue of USD 13,270.1 million in 2023 and is expected to reach USD 21,645.3 million by 2030.
- The India market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, tire was the largest revenue generating replacement part in 2023.
- Turbochargers is the most lucrative replacement part segment registering the fastest growth during the forecast period.
Automotive aftermarket market data book summary
| Market revenue in 2023 | USD 13,270.1 million |
| Market revenue in 2030 | USD 21,645.3 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Tire |
| Fastest growing segment | Turbochargers |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tire, Battery, Brake Parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers |
| Key market players worldwide | 3M Co, Continental AG, Goodyear Tire & Rubber Co, Denso Corp, HELLA GmbH & Co KGaA, Robert Bosch Engineering & Business Solutions, Valeo SA |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global automotive aftermarket market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China automotive aftermarket market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 21,645.3 million by 2030.
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Automotive Aftermarket Market Scope
Automotive Aftermarket Market Companies
| Name | Profile | # Employees | HQ | Website |
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India automotive aftermarket market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive aftermarket market will help companies and investors design strategic landscapes.
Tire was the largest segment with a revenue share of 21.35% in 2023. Horizon Databook has segmented the India automotive aftermarket market based on tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers covering the revenue growth of each sub-segment from 2017 to 2030.
Automotive glass aftermarket in India is likely to witness significant growth over the forecast period. This is attributable to the fact that India is among the countries with significant road traffic fatalities. Moreover, the vehicle fleet in India has been witnessing an upward trend since the past few years.
According to the estimates of WHO, road traffic fatalities rate in 2017 in India was 22.51 per 100,000 inhabitants, which was higher than that of China. Moreover, according to the estimates of Ministry of Surface Transport, the number of vehicles in operation in 2016 was 230 million units, an increase of 30.7% as compared to that in 2010. The number of vehicles in operation on Indian roads is expected to increase in the coming years owing to the rising operations of fleet owners including mobility operators such as Uber and Ola.
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Our clientele includes a mix of automotive aftermarket market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India automotive aftermarket market , including forecasts for subscribers. This country databook contains high-level insights into India automotive aftermarket market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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India automotive aftermarket size, by replacement part, 2017-2030 (US$M)
India Automotive Aftermarket Market Outlook Share, 2023 & 2030 (US$M)
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Related regional statistics
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