The India Auto Parts Market Forecast highlights the industry’s potential trajectory in terms of both size and structural evolution. Projections for the next decade suggest robust and steady growth.
Numerical Growth Path
The market, valued at more than USD 70 billion in 2023, is forecasted to nearly double by 2035, reaching well over USD 130 billion. This translates into a healthy compound annual growth rate (CAGR) of more than 5%. Much of this growth will be led by the aftermarket, as the number of vehicles on the road expands and consumers demand reliable replacement parts.
Structural Forecast
OEM demand will remain strong, particularly with India being a major global hub for two-wheeler and passenger car manufacturing. At the same time, EV-specific components will steadily increase their share. Distribution will also shift, with online sales platforms becoming an integral part of the industry.
The forecast emphasizes that India’s auto parts market will not only grow in size but also evolve in character, becoming more technologically advanced, more export-oriented, and more digitally integrated.
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