Indian automotive aftermarket biz to grow to $30 billion by 2026

The Indian aftermarket automotive business is expected to grow to an estimated USD 30-32 billion by 2026 from the current USD 6.5 billion, indicating a surge in demand for spare parts in the country's vehicle parc. Representing India's strengths in these key segments, over 175 auto-component manufacturers presented their products and innovations at just concluded Automechanika - the world's leading trade fair for the automotive aftermarket industry in Frankfurt (from September 13-17). Among the exhibiting companies at Automechanika Frankfurt were India's leading players like Sona Koyo Steering Systems, Shriram Pistons & Rings Ltd, Talbros Automotive Components Ltd, Nipman Fastners Industries Pvt Ltd, Lucas TVS Ltd, Sigma Corporation India Ltd, Mansons International Pvt Ltd, Bajaj Bearings Pvt Ltd and Ample Autotech Pvt Ltd. Six months on, global auto-component players are set to come together at ACMA Automechanika New Delhi vying for this lucrative market. The Indian edition is scheduled from March 21 to 24, 2017, at Pragati Maidan in New Delhi. It will aim to provide the much needed technical impetus to India's Automotive Mission Plan 2026 by fostering trade and knowledge exchange. India's participation at the Frankfurt edition is set to inspire confidence among global consumers.