India’s automotive aftermarket industry to cross USD 30 billion by 2026 – ACMA
With 175 Indian companies being represented at Automechanika in Frankfurt, makes India the 6th largest participation among exhibiting companies drawing the attention and boosting confidence of global consumers.
A surge in demand for automobile spare parts from India is expected over the next decade. ACMA (Automotive Component Manufacturers Association of India) reveals that by 2026, the Indian automobile business could grow at around US$ 30-32 billion (INR 2.14 lakh crore) as against a current US$ 6.5 billion (INR 42,900 crore).
This can be seen from the large number of automotive companies in attendance at Automechanika in Frankfurt, the largest trade fare for the automotive aftermarket industry. As on date, Automechanika spans a network of 15 events in 14 countries bringing together exhibitors and offering them access to new markets and global customers.
With special emphasis on automobile spares, systems, tuning, workshop equipment and body works along with paint, car wash and the very latest in automobile services, the fair will be attended by Sona Koyo Steering Systems, Shriram Pistons and Rings, Talbros Automotive Components, Nipman Fastners Industries, Lucas TVS, Sigma Corporation India, Mansons International, Bajaj Bearings, Ample Autotech.
Even as Indian auto component makers head to Frankfurt, they are also set to showcase their products and services at the Indian edition of ACMA Automechanika in Delhi from March 21-24, 2017. To be held at the Pragati Maidan in New Delhi, the event which will see over 250 exhibitors in attendance play a significant role in boosting India’s Automotive Mission Plant (AMP) 2026 for enhanced trade and exchange of knowledge.