New Delhi: india is the world's third-largest automobile market, experiencing rapid growth in the automotive component aftermarket. The Automotive Component Manufacturers Association of india (ACMA) reported that the aftermarket grew by 6% to Rs 1,948 crore (USD 11.8 billion) in FY 2024-25. This growth is attributed to an expanding used car base, the formalization of the repair sector, and increased rural demand bolstered by e-commerce.


The overall turnover of the automotive component industry, including the aftermarket, reached Rs 6.73 lakh crore (USD 80.2 billion), marking a year-on-year growth of 9.6%. ACMA indicated that the sector is expected to grow at a CAGR of 14% from FY20 to FY25, nearly doubling in size over this five-year period.


Vishal Kaul, President and business Head - Aftermarket at UNO Mind, projected that the indian automotive aftermarket size will be around Rs 1,00,000 crore and could reach between Rs 1,55,000 crore and Rs 1,60,000 crore by 2030. He emphasized that the modernization of vehicles is driving demand in specific segments of the auto component aftermarket.


Kaul noted, "Modern vehicles come equipped with more electronics, sensors, and interfaces. This has led to increased demand for advanced infotainment systems (e.g., Android-based screens), LED lighting, upgraded indicators, convenience features like handlebar switches with phone charging, and safety accessories like dvrs and ADAS-related products."


Vinnie Mehta, director General of ACMA, recently stated, "With oems, exports, and the aftermarket sectors all performing well, the indian automobile industry achieved a turnover of Rs 6.73 lakh crore (USD 80.2 billion) in FY25, reflecting a growth of 9.6% over the previous financial year." The aftermarket, valued at Rs 1,948 crore, also experienced a 6% increase. Components supplied to oems in the domestic market rose by 10% to Rs 5.7 lakh crore. Kaul identified key aftermarket demands in four categories: consumables, breakables, enhancements, and aesthetic improvements.

 

 

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Balasahana Suresh

31/07/2025 11:26 AM