ACG Research released the latest version of Indian Automobile Industry Outlook 2019. Now India became the 4th largest Automotive market in the world. Indian Automotive Industry contributed 7% in Indian GDP, providing employment of 19mn people, 40% share in Global GDP, and contributed 4.3% share in export.
The Auto industry is expected to reach 125 bn by 2020 and 280 bn by 2025 at a CAGR of 18%.
Indian Auto component Industry also plays an important role by contributing 2.3% in Indian GDP, expected to reach its turn over USD 200bn by 2025. The Auto component Industry growth rate is almost 20%.
In the Commercial Vehicle market, India is the second largest bus manufacturer, third largest Truck manufacturer, largest Tractor manufacturer. The country is producing around 25mn vehicle with 3.5mn exported. Key export markets are Africa, the Middle East, and South East Asia.
Electric and Hybrid Vehicle volume is now more than 1mn volume.
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