Ageing Car VIO, Increasing Used Car Sales, and a Growing Annual Mileage Boost Aftermarket Auto Part Sales Revenue in the Short to Medium Term
This report evaluates the Indian automotive aftermarket’s performance in FY2023 and identifies numerous trends that affect demand for replacement parts, repairs, and maintenance. The study period is from FY2020 to FY2029, with FY2023 as the base year and FY2024 to FY2029 as the forecast period.
The Indian automotive aftermarket will witness substantial growth in the coming years due to the increase in vehicles in operation (VIO) from FY2020 to FY2029. The report provides an in-depth evaluation of the current and future state of the Indian passenger car aftermarket ecosystem, identifying several trends that are expected to impact the demand for replacement parts, repairs, and maintenance services.
One of the key trends noted in the report is the increase in shared mobility services, which is expected to lead to higher wear and tear of vehicles and a corresponding rise in demand for replacement parts and services. The report also determines the growth of used cars in India, which can create opportunities for players in the aftermarket sector to provide repair and maintenance services. The increasing VIO is another factor expected to drive the growth of the Indian automotive aftermarket. The report also highlights the importance of vehicle diagnostics and parts eCommerce, which can help improve efficiency and reduce costs in the sector.
The report provides quantitative and qualitative analysis of the Indian passenger car aftermarket, covering areas such as revenue, distribution channel structure, VIO analysis, key competitors, new business models, and growth opportunities.
The report concludes that the Indian automotive aftermarket is poised for significant growth over the next several years. The trends noted in the report, including shared mobility and growth in used cars, indicate new opportunities for players in the aftermarket sector. Furthermore, the report suggests that vehicle diagnostics and parts eCommerce can be key enablers for improving efficiency across the aftermarket value chain.
