Automobile Industry and Auto Components, Automotive Components, Spare Parts, Auto Parts, Car Parts, Replacement Parts, Tractor Parts, Motorcycle Parts, Auto Body Parts, Two Wheeler, Three Wheeler and Four Wheeler Parts, Accessories & Spares Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost and Revenue, Plant Economics, Production Schedule, Working Capital Requirement, Plant Layout, Process Flow Sheet, Cost of Project, Projected Balance Sheets, Profitability Ratios, Break Even Analysis
The automobile industry is one of the key drivers that boosts the economic growth of the country. The Indian automotive industry includes two-wheeler, trucks, cars, buses, three wheeler and four wheeler which play a crucial role in growth of the Indian economy. The country is expected to top the world in Car volumes with approx. 611 Million vehicles on the nation’s road by 2050. The economy progress of this industry is indicated by the amount of goods and services produced which give the capacity for transportation and boost the sale of vehicles. There is huge increase in automobile production with a catalyst effect by indirectly increasing the demand for a number of materials like Steel, Rubber, Plastics, Glass, Paint, Electronic and Services.
The Indian auto industry is one of the largest in the world. India’s automotive industry is one of the most competitive in the world. It does not cover 100 per cent of technology or components required to make a car but it is giving a good 97 per cent. The Indian automotive sector has the potential to generate up to US$ 300 billion in annual revenue by 2026, create 65 million additional jobs and contribute over 12 per cent to India’s Gross Domestic Product.
There are a wide range of jobs available in the automobile industry. With the number of vehicles available on the road today, the need and requirement for people who can fix these machines is fast increasing. Careers like automobile technician, car or bike mechanics are a great option. Becoming a diesel mechanic is also a significant alternative.
The Two Wheelers segment, with 81 per cent market share, is the leader of the Indian Automobile market, owing to a growing middle class and a young population. Moreover, the growing interest of companies in exploring the rural markets further aided the growth of the sector. The overall Passenger Vehicle (PV) segment has 13 per cent market share.
India is also a prominent auto exporter and has strong export growth expectations for the near future.
Growth Drivers:
- Passenger vehicle production to grow to 9.4 million units annually by 2026
- Commercial vehicles production to grow to 2.0 million units annually by 2026
- Two wheelers production to grow to 50.6 million units annually by 2026
- Three wheelers production to increase to 0.95 million units by 2026
- The availability of a variety of vehicle models meet diverse needs and preferences.
- Favourable government policies like lower excise duties, automotive mission plans, the constitution of NATRiP, National Mission for Electric Mobility 2020, FAME – Faster Adaption and Manufacturing of Hybrid land Electric Vehicle etc.
The Indian auto-components industry has experienced healthy growth over the last few years. This industry remains one the fastest growing segments in India’s manufacturing sector. As far as investments are concerned, the Government of India continues to encourage foreign investments in the sector. Some policy initiatives include automatic approval for foreign equity investment up to 100% for manufacture of automobiles and components, delicensing the industry and allowing free imports of auto components.
As indicated earlier, the auto component suppliers are emerging as systems suppliers with capacity to design and develop critical parts. The Indian automobile components industry has, no doubt, significant cost advantages, primarily due to lower labour cost (about one-fifteenth of Japanese cost). The large labour cost advantage translates into an overall cost advantage of 20-30% over the Japanese producers, despite lower labour productivity.
The improved quality of vehicles and extended warranties offered by the vehicle manufacturers has helped the existence of a huge secondary market in India. The Indian auto-components industry can be broadly classified into the organised and unorganised sectors. The organised sector caters to the Original Equipment Manufacturers (OEMs) and consists of high-value precision instruments while the unorganised sector comprises low-valued products and caters mostly to the aftermarket category.
Automobile & Auto Components Policy 2015-20 aims to generate new employment opportunities for at least 2 lakh people and attract new investments of at least Rs. 20,000 crore in this sector by 2020.
See more:
Contact us
Niir Project Consultancy Services
106-E, Kamla Nagar, Opp. Spark Mall,
New Delhi-110007, India.
Email: npcs.ei@gmail.com , info@entrepreneurindia.co
Tel: +91-11-23843955, 23845654, 23845886, 8800733955
Mobile: +91-9811043595
Website : www.entrepreneurindia.co , www.niir.org
Tags
Automobile Industry in India, Automobile Industry, Automobile Components, Automotive Components, Auto Components Industry, Automobile and Auto Components, Automotive Component Business Line, Auto Parts Business Plan, Automobile Parts Business Plan, Spare Parts Manufacturing Business Plan, Automobile Manufacturing Business Plan, Automobile Spare Parts Business Plan in India, Auto Spare Parts Business Plan, Auto Parts Business, Spare Parts Business Ideas, Small Scale Automobile Business Ideas, Auto Spare Parts Business Planning Report, Automotive Spare Parts Business, How to Start Auto Parts Business, How to Start Motorcycle Spare Parts Business, Automobile and Spare Parts Business, Auto Parts Business Startup, How to Start Auto Spare Parts Business, Car Spare Parts Business Plan, Spare Parts Business Plan, Spare Parts Industry, Automotive Spare Parts Business Plan, Highly Profitable Automobile Business Ideas, How to Start Spare Parts Business Plan in India, Motor Spare Parts Business Plan, Automotive Industry in India, How to Start Motorcycle Spare Parts Business, Profitable Automobile Business Ideas in India, Auto Parts Manufacturing Business Plan, Auto Component Industry in India, Motor Vehicle and Parts Manufacturing, Automobile Parts Manufacturing Industry Profile, Business of Manufacturing Car Parts, Auto and Car Parts Production, Auto Parts Manufacturing Machines, Auto Parts Production Line, Manufacturing of Automotive Parts, Auto Parts Production, Automotive Manufacturing Report, Auto Parts & Equipment Manufacturing Industry, Production of Car Parts, Car Parts Production Line, Replacement Parts for Cars, Replacement Parts, Replacement Car Parts, Replacement Parts Industry, Tractor Parts Manufacturing Industry, Tractor Parts Production, Tractor Spare Parts, Tractor Parts Manufacturing, Bike Spare Parts, Bike Parts Manufacturing, Manufacturing Motorcycle Parts, Two Wheeler Spare Parts Business, Two Wheeler Parts Business, Manufacture of Two Wheelers Parts, Projects on Automobile Industry, Manufacture of Three Wheelers Parts, Three Wheeler Parts Production Line, Components of Four Wheeler Automobile, Four Wheeler Spare Parts Manufacture, Four Wheeler Spare Parts, Motor Vehicle Parts Manufacturing, Automotive Body Parts, Automobile Body Parts Manufacture, Manufacturing of Car Body Parts In Industry, Manufacturing of Car Body Parts, Auto Body Components Processing, Spare Parts Processing Project Ideas, Projects on Small Scale Industries, Small Scale Industries Projects Ideas, Automobile Manufacturing Based Small Scale Industries Projects, Project Profile on Small Scale Industries, How to Start Automotive Body Parts Processing Industry in India, Spare Parts Processing Projects, New Project Profile on Motorcycle Parts Processing Industries, Project Report on Motorcycle Parts Manufacturing Industry, Detailed Project Report on Automobile Spare Parts Manufacturing, Project Report on Tractor Parts Manufacturing, Pre-Investment Feasibility Study on Tractor Parts Manufacturing, Techno-Economic Feasibility Study on Automobile Parts Manufacturing, Feasibility Report on Automobile Manufacturing, Free Project Profile on Auto Parts Manufacturing, Project Profile on Automotive Manufacturing, Download Free Project Profile on Car Parts Production, Industrial Project Report, Project Consultant, Project Consultancy, NPCS, Niir, Process Technology Books, Business Consultancy, Business Consultant, Project Identification and Selection, Preparation of Project Profiles, Startup, Business Guidance, Business Guidance to Clients, Startup Project for Three Wheeler Parts Production, Startup Project, Startup Ideas, Project for Startups, Startup Project Plan, Business Start-Up, Business Plan for Startup Business, Great Opportunity For Startup, Small Start-Up Business Project, Project Report for Bank Loan, Project Report for Bank Finance, Project Report Format for Bank Loan in Excel, Excel Format of Project Report and CMA Data, Project Report Bank Loan Excel, Detailed Project Plan Reports
Contact Form
[contact-form][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Country’ type=’text’ required=’1’/][contact-field label=’Mobile’ type=’text’/][contact-field label=’Website’ type=’url’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]
