Components

India is currently placed as one of the top seven global auto component suppliers. Over the past five years, the Indian auto component market has recorded a strong CAGR of about 10%. India holds 4% of the global auto component market share, with a market size of about $75 Bn. Indian Auto Component Industry size is ~$80.2 Bn (FY 25) growing with a CAGR of ~14% (FY20-25). India is emerging as a global hub for auto component sourcing, and the industry exports over 28% of its production annually. India's auto component export market is expected to reach $100 Bn by 2026. The auto component industry is also a contributor to economic growth and employment. In 2024, the industry accounted for ~25% of India’s manufacturing GDP and 2.7% of its total GDP. The industry supports nearly 5 Mn skilled and semi-skilled workers. The Indian auto component industry is likely to reach a market size of $200 billion by 2030, further helped by strong domestic demand and increasing exports.

In FY 24 India’s automotive component exports are primarily directed toward North America (34%), Europe (27%), and Asia (19%), with the United States as the largest trading partner at approximately $3.5 Bn (28%). Germany and Turkey follow, contributing around $0.8 Bn (7%) and $0.7 Bn (5%), respectively.