Domestic auto component aftermarket expected to touch $14 bn mark by 2028: study thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Indian Automotive Aftermarket: ACMA, the apex body of the Indian auto component industry, has shared this data from its Global Automotive Aftermarket Research Report, conducted in partnership with leading advisory firm Ernst & Young ahead of the 5th ACMA Automechanika New Delhi, at the Bharat Mobility Global Expo 2024 from February 1 to 3,2024, in Bharat Mandapam, Pragati Maidan, New Delhi.
The domestic auto component aftermarket in India is expected to reach USD 14 billion by 2028, fueled by the growth of the vehicle parc, which currently stands at 340 million and is projected to grow at a CAGR of over 8% for the next five years. The Indian aftermarket is valued at USD 10 billion in 2023 and is expected to surge almost 1.4 times in the next five years.