NEW DELHI: Indian auto components industry has skilled strong growth in the primary half of FY25, with a notable 11.3 per cent enhance in its market dimension, in accordance with Automotive Component Manufacturers Association (ACMA) report.
The industry, which was valued at $36.1 billion in H1 FY24, surged to $39.6 billion in H1 FY25. Several tendencies have emerged in the market, with customers shifting in the direction of bigger and extra highly effective autos throughout all segments.
The demand for Utility Vehicles (UVs) in the Passenger Vehicle (PV) phase grew by 13 per cent, with UV1 fashions (starting from 4000 to 4400 mm in size and priced underneath Rs 20 lakh) seeing a 25 per cent enhance in gross sales.
The two-wheeler market additionally noticed a 74 per cent enhance in gross sales of bikes with engine capacities between 350cc and 500cc.
Electric autos (EVs) have gained vital traction, with gross sales rising by 22 per cent in H1 FY25 in comparison with the earlier 12 months. While electrical two-wheelers (e-2W) grew by 26 per cent, electrical passenger autos (e-PVs) noticed a decline of 19 per cent.
Exports from the auto components sector have been sturdy, with a 7 per cent growth in exports and a commerce surplus of $150 million.
The USA, Germany, and Turkey emerged as the highest locations for Indian auto part exports, whereas China, Germany, Japan, and Korea had been the main sources of imports.
The industry’s general dimension stood at Rs 3.32 lakh crore ($39.6 billion) in H1 FY25, with provide to Original Equipment Manufacturers (OEMs) reaching Rs 2.83 lakh crore ($33.8 billion).
Exports in Asia alone amounted to $2.74 billion, whereas the whole area-clever imports had been valued at $7.16 billion.
In phrases of general efficiency, the whole industry turnover stood at Rs 3.32 lakh crore ($39.6 billion) in H1 FY25, up from Rs 2.98 lakh crore ($36.1 billion) in H1 FY24, marking an 11.3 per cent growth.
The provide to Original Equipment Manufacturers (OEMs) noticed a rise of 11.2 per cent, reaching Rs 2.83 lakh crore ($33.8 billion), in comparison with Rs 2.55 lakh crore ($30.8 billion) in the identical interval final 12 months.
The aftermarket phase grew by 5.0 per cent, totaling Rs 47,416 crore ($5.7 billion), up from Rs 45,158 crore ($5.5 billion) in H1 FY24.
Exports from the industry grew by 8.7 per cent, amounting to Rs 93,342 crore ($11.1 billion), up from Rs 85,870 crore ($10.4 billion) in H1 FY24.
Imports additionally noticed an increase of 5.3 per cent, totaling Rs 92,050 crore ($11.0 billion), in comparison with Rs 87,425 crore ($10.6 billion) in the earlier 12 months.
