TechNavio today launched its report Auto Component Market in India 2011“2015 based on an in-depth study. The report aims to aid decision makers™ understanding of the key trends impacting the growth of this market.
Commenting on the report, an analyst from TechNavio™s Engineering Services team said, The easy availability of auto finance is one of the major growth drivers of the Automotive market. In addition, a reduction in interest rates by the Reserve Bank of India has further increased the growth of the Auto Component market in India. It is observed that more than 90 percent of new vehicles such as cars and two-wheelers are currently sold through the financing route. Moreover, in India, vehicle financing penetration has been rising over the years because of the competition among banking and non-banking financial companies. Easy availability of finance combined with increasing disposable income levels provides an ideal platform for the strong growth of the market in the coming years.
According to the report, the Automobile industry in India has greatly benefitted from a sharp increase in the demand for vehicles, which has led to the addition of extra capacity, better R&D facilities, and technological advancement across the country. This will increase the growth of auto components and hence the growth of the Auto Component market in India.
Further, the report also discusses how the massive scale of manufacturing in China is a major threat to the Auto Component market in India.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/auto-component-market-india-2011-2015
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TechNavio Announces the Publication of its Report “ Auto Component Market in India 2011“2015
