The Indian automotive motors market is projected to grow at a double-digit CAGR during the forecast period. Considerable growth in vehicle sales (both cars and two-wheeler), exponential growth in the electric vehicle sales, and high export volume are some of the major factors for the substantial market for the automotive motor market in the country. Moreover, rising disposable income & so rising demand for higher-end models, and increasing the availability of the options of electric vehicles will further provide the growth to the market during the forecast period.
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As per the International Organization of Motor Vehicle Manufacturers, India was the fifth largest vehicle manufacturer all across the globe with a production of 4.51 million vehicles (cars and commercial vehicles combined) in 2019. Moreover, the country is the largest two-wheeler market all across the globe. A downfall of 12.2% in vehicle manufacturing was witnessed in 2019 due to lower demand in the domestic as well as international market and a substantial demand was expected in 2020. However, due to COVID-19, a significant drop on YoY basis in vehicle sales and so automotive motor will be witnessed in the country in 2020. Although, in the upcoming year a significant growth is expected in the country.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
India Automotive MotorMarket – Segmentation
By Type
- Brushless DC Motor & Stepper Motor
- Brushed DC Motor
- Others
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
- Electric Vehicles
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
- OEM
- Aftermarket
The Report covers:
- Comprehensive research methodology of India automotive motors market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting India automotive motors market.
- Insights about market determinants which are stimulating the Indian automotive motors market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- • Extensive profiles and recent developments of the market players.
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