Technavio Announces Top Five Vendors in the Auto Component Market in India from 2016 to 2020
By Business Wire News
By Business Wire News
Technavio has announced the top five leading vendors in their recentauto component market in India 2016-2020report. This research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
“Geographical presence and penetration in the auto component market play a critical role in defining the market position of a supplier. Currently TVS wins in terms of geographical presence, penetration, and a strong product portfolio. Portfolio management is expected to be a key aspect for growth and suppliers are expected to explore different product lines to enhance their market position during the forecast period,” says Siddharth Jaiswal, a lead automotive components analyst from Technavio.
According to the report, the TVS Group is the straight outperformer in the list of key vendors. This is mostly on account of its established presence in the market, a huge portfolio by virtue of being a large and diversified group, as well as the its having operations in a large number of geographies.
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Additional Insights: Which top vendor had the most revenue in 2015? (Graph)
Top five auto component vendors in India
Bharat Forge is a specialized auto component manufacturing company. It is the global leader in metal forming with transcontinental presence across eight manufacturing locations. It is also the world’s largest forging company with manufacturing facilities spread across India, Germany, and Sweden.
Bharat Forge, a part of the Kalyani Group, is India’s largest manufacturer and exporter of auto components and a leading chassis component producer in the world. It manufactures a wide range of high performance, critical, and safety components for the automotive and non-automotive sectors.
Bosch India is a global manufacturer of automotive and industrial technology. Bosch’s automotive portfolio consists of gasoline systems, diesel systems, chassis systems, brakes, energy and body systems, car multimedia, auto electronics, and after sales.
Currently, Bosch Group’s geographical focus is on China, India, and the rest of APAC. The first global R&D center outside Europe was set up in India, and is located in Bangalore with the key focus areas being electronic diesel control and petrol injection systems. Bosch Automotive spends more than 9% of its sales revenue on R&D which is far more than the industry average. The company has invested more than 200 million dollars in its R&D and production facilities to develop high-pressure common-rail injection systems in Bangalore and Nashik.
The Minda Group is a diversified auto ancillary products and services company. It manufactures mechanical and electronic security systems, and electronic controllers for EVs and for auto OEMs across the globe (informatics is also a field catered to by the group). The core competency of the company lies in the manufacture of security systems. However, the group strategy includes the development of global competencies in multiple auto component fields so as to achieve the company mission of being the preferred automotive supplier on a global scale.
Samvardhana Motherson Group
The company manufactures electrical distribution systems, automotive rear-view mirrors, polymer processing, lighting systems, air intake manifolds, and HVAC systems. MSSL (Motherson Sumi systems limited) is the flagship company of the group, which is a joint venture between SMG and Sumitomo Wiring Systems of Japan. MSSL has a geographic presence in 25+ countries, mostly through M&A.
SMR (Samvardhana Motherson Reflectec) is a Motherson Group company which is one of the largest manufacturers of rear-view mirrors for passenger cars with 22% of the global market share.
The TVS Group is a diversified industrial conglomerate with group revenue more than USD 6 billion. The company specializes in manufacturing of two wheelers, three wheelers, auto-electricals component, high-tensile fasteners, die casting products, brakes, wheels, tires, axles, seating systems, fuel injection component, and electronic and electrical components.
Some of the group companies involved in auto components are TVS Motors, Sundaram Clayton, Sundaram Fasteners. The Indian operations are usually used as the backend low-cost base for offshoring US and UK operations. The company is focused on building core competencies and gaining access to a global customer base.
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