New Delhi [India], December 15 (ANI): The auto component aftermarket grew by 5 per cent due to an increase in used vehicle parc and formalisation of the repair and maintenance market, according to the findings of the Automotive Component Manufacturers Association of India (ACMA).
The aftermarket in the first half (H1) of the financial year (FY) 2024 stood at Rs 45,158 crore (USD 5.5 billion) which grew to Rs 47,416 crore (USD 5.7 billion) in one year, with 5 per cent of the increase.

“Auto Component Industry growth over last 10 years driven by robust domestic vehicles sales, strong aftermarket and increasing exports,” the ACMA added.
The aftermarket refers to the secondary market that deals with the parts, accessories, and services related to vehicles after they have been sold by the original equipment manufacturer (OEM).
As per the industry body that represents the manufacturers in the Indian auto component industry, the auto component supply to OEMs in H1 FY 2025 stood at Rs 2.83 lakh crore, with a rise of 11.2 per cent.
The ACMA report added that the USA has emerged as the key destination for exports while China is a key source of imports for the Indian automobile players.

The share of Indian exports to the USA stands at 28 per cent, followed by Germany (8 per cent) Turkey (5 per cent) Brazil (4 per cent), and countries such as UK, Italy, Bangladesh, Thailand, Mexico, and UAE with 3 per cent of export.
China accounts for 28 per cent of imports in India, followed by Germany, Japan, S Korea, USA, Thailand, Singapore, Italy, UK and Indonesia.
The exports, in the H1FY25, grew by 7 per cent while imports by 4 per cent; a trade surplus of USD 150 million.
The finding stated that customers have started to move towards larger and more powerful vehicles across all segments, exhibiting a shift in preference.
UVs (Utility Vehicles) in the Passenger Vehicle (PV) category grew by 13 per cent, with UV1 models (length 4000 to 4400 mm, priced under 20 Lakhs) showing a 25 per cent growth.
Sales of motorcycles with engine capacities between 350cc and 500cc increased by around 74 per cent.
Overall EV sales rose by 22 per cent in H1 FY25 compared to the previous year, with electric two-wheelers (e2W) growing 26 per cent, but electric passenger vehicle (e-PV) sales declined by 19 per cent.
The industry saw a 7 per cent growth in exports, contributing to a USD 150 million trade surplus. The auto components sector continued to deliver higher value-added products.
These growth percentages are based on Rupee values, and the cost of Li-ion batteries is excluded from component consumption calculations for EVs. (ANI)

Indian auto components industry sees 11.3 pc growth in H1 FY25: Report

New Delhi [India], December 14 (ANI): The Indian auto components industry has experienced robust growth in the first half of FY25, with a notable 11.3 per cent increase in its market size, according to Automotive Component Manufacturers Association (ACMA) report.
The industry, which was valued at USD 36.1 billion in H1 FY24, surged to USD 39.6 billion in H1 FY25. Several trends have emerged in the market, with consumers shifting towards larger and more powerful vehicles across all segments.
The demand for Utility Vehicles (UVs) in the Passenger Vehicle (PV) segment grew by 13 per cent, with UV1 models (ranging from 4000 to 4400 mm in length and priced under Rs 20 lakh) seeing a 25 per cent increase in sales.
The two-wheeler market also saw a 74 per cent increase in sales of motorcycles with engine capacities between 350cc and 500cc.
Electric vehicles (EVs) have gained significant traction, with sales rising by 22 per cent in H1 FY25 compared to the previous year. While electric two-wheelers (e-2W) grew by 26 per cent, electric passenger vehicles (e-PVs) saw a decline of 19 per cent.
Exports from the auto components sector have been strong, with a 7 per cent growth in exports and a trade surplus of USD150 million.
The USA, Germany, and Turkey emerged as the top destinations for Indian auto component exports, while China, Germany, Japan, and Korea were the leading sources of imports.

The industry’s overall size stood at Rs 3.32 lakh crore (USD 39.6 billion) in H1 FY25, with supply to Original Equipment Manufacturers (OEMs) reaching Rs 2.83 lakh crore (USD 33.8 billion).
Exports in Asia alone amounted to USD 2.74 billion, while the total region-wise imports were valued at USD 7.16 billion.
In terms of overall performance, the total industry turnover stood at Rs 3.32 lakh crore (USD 39.6 billion) in H1 FY25, up from Rs 2.98 lakh crore (USD 36.1 billion) in H1 FY24, marking an 11.3 per cent growth.
The supply to Original Equipment Manufacturers (OEMs) saw an increase of 11.2 per cent, reaching Rs 2.83 lakh crore (USD 33.8 billion), compared to Rs 2.55 lakh crore (USD 30.8 billion) in the same period last year.
The aftermarket segment grew by 5.0 per cent, totaling Rs 47,416 crore (USD 5.7 billion), up from Rs 45,158 crore (USD 5.5 billion) in H1 FY24.
Exports from the industry grew by 8.7 per cent, amounting to Rs 93,342 crore (USD 11.1 billion), up from Rs 85,870 crore (USD 10.4 billion) in H1 FY24.
Imports also saw a rise of 5.3 per cent, totaling Rs 92,050 crore (USD 11.0 billion), compared to Rs 87,425 crore (USD 10.6 billion) in the previous year. (ANI)