Ipsos White-Paper Parking Sensor Market in India.Pdf

Topics: Automotive industry, Automobile, Volkswagen Group Pages: 10 (2858 words) Published: July 4, 2013
- INDUSTRY WHITE PAPER -

Report on Parking Sensor Market in India

Prepared by

: Ipsos Business Consulting

Ipsos Business Consulting 7th Floor, 601 Boston House, Suren Road, Andheri (E), Mumbai 400093, India Direct: +91 22 6620 8385 bhasker.canagaradjou@ipsos.com

© 2013 Ipsos. All rights reserved. The concepts and ideas submitted to you herein are the intellectual property of Ipsos. They are strictly of confidential nature and are submitted to you under the understanding that they are to be considered by you in the strictest of confidence and that no use shall be made of the said concepts and ideas, including communication to any third party without Ipsos’ s express prior consent and/or payment of related professional services fees in full

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Macroeconomic and Auto Sector Overview The economy of India is the tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). Its GDP is expected to grow at an average rate of 6% over the next 5 years. This combined with the fact that India has a bellowing working population, indicates that India’s automotive sector is well-positioned for growth servicing both domestic demand and, increasingly, export opportunities. Rising prosperity, easier access to finance and increasing affordability will also propel four-wheelers sale volumes. India’s passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011. In 2009, India also emerged as Asia's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. With a Rs 12,000 crore capacity expansion in 2013 by major Auto players on developing new products and diesel engine manufacturing facilities, India is all set to become a global automobile super power. The majority of India's car manufacturing industry is based around three clusters in the south, west and north. The southern cluster consisting of Chennai is the biggest with 35% of the revenue share and 60% of the countries automotive exports hosts companies like Hyundai, Ford and BMW. The western hub near Mumbai and Pune contributes to 33% of the market with large companies like GM and M&M being situated in the Chakan corridor and the northern cluster around the National Capital Region which contributes 32%. Even with dampening sales during the last few quarters, car makers are expected to make a string of launches this year. New models are likely in the compact sports utility vehicle range, after the grand success of the Renault Duster, Eritga and Mahindra & Mahindra’s SUV segment. Small segment is expected to remain the most popular segment in India due to its low cost, utility on India’s crowded metro roads and fuel efficiency advantage. The SUV category is going to grow much faster due to the availability of more models at competitive rates. It is estimated that the Mid-size and executive segment would shrink a bit due to the higher acceptability of MUVs by the Indian customers.

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India’s large growth in the automobile sector has lead to large opportunities being created for the auto components market. Of late many of the major automobile manufacturers are looking at sourcing auto components from local players in order to save on transportation and taxes involved with imports.

Indian Automotive Component Market The Indian Automotive Component Industry, which is expected to grow at a CAGR of ~12% till 2016, has developed the capability of manufacturing all components required to manufacture vehicles, which is evident from the high levels of indigenization / localization achieved in the vehicle industry as well as the components developed for the completely Indian made vehicles like the Tata Indica, Tata Indigo, Mahindra Scorpio, etc. The component industry has now holistic capability to...
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