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Indian Auto Component Sector Is Estimated To Grow At A Compound Annual Growth Rate (CAGR) Of 14 % During 2013–2021

The Middle East is increasingly in the sights of auto components and tyre manufacturers from India looking to increase their share of this lucrative market. This is evident from the growing demand for
exhibition space from Indian parts and tyres manufacturers at the upcoming Automechanika Dubai 2014.

Epoc Messe Frankfurt, organiser of the leading international trade exhibition for the automotive aftermarket in the wider Middle East, is expecting even stronger interest from Indian
manufacturers and suppliers than last year’s record-setting presence, when it takes place from 3rd to 5th June.

“Indian exhibitors are quite familiar with the UAE given the close business and commercial links between the two nations,” said Ahmed Pauwels, CEO of Epoc Messe Frankfurt. “Automechanika Dubai
enables them to considerably widen their reach across the region, which is why we have seen such a robust response from India.”

Already a growing automotive manufacturing hub, India is emerging as a global hub for auto component sourcing and is set to break into the league of the top five vehicle producing nations worldwide. The country is also becoming a major sourcing hub for engine components. The Indian auto component sector is estimated to grow at a compound annual growth rate (CAGR) of 14 per cent during 2013–2021. In addition, the industry which exported components worth  US$ 9.3 billion in 2012–13 is set to record US$ 30 billion worth of exports by 2020–21, arding to data from Automotive Component Manufacturers’ Association (ACMA).*

The last edition of Automechanika Dubai featured 93 Indian exhibitors who took 2,500 sqm of space, a record increase over the 2012 numbers of 40 exhibitors and 1,300 sqm of space. This year their presence is expected to be even larger according to the organiser, with two industry associations – ACMA and the EEPC (Engineering Export Promotion Council) supporting the event.

Among the leading manufacturers of off-highway tyres, Balkrisha Industries Ltd will be a prominent exhibitor at Automechanika Dubai 2014. Anshul Samant, Sr. Manager, Exports of Balkrishna Industries, said: “Being at Automechanika Dubai is a vital part of our strategy to increase our presence in the Middle East. Our previous experience has been extremely positive with good trade visitor response and some promising leads being generated.“

“Being the largest manufacturer of pistons and rings in India, and the largest supplier of Engine Valves to OEMs in India, we are now exploring for fresh leads in the Middle East which is a very exciting market for us, “ said Ashok Kumar Taneja – Managing Director and CEO of Shriram Piston and Rings, who are set to showcase their frontline range at the show.

Automechanika Dubai 2014 is set to be even larger this year than the record-setting 2013 edition, riding on buoyant market conditions in the wider region. The exhibition and conference, which attracted more than 24,000 trade visitors and buyers last year and featured 1,482 exhibitors, enjoys a reputation for being an unmatched business networking and facilitating platform for the region.

Automechanika Dubai 2014 will feature the following product groups: Parts & Systems; Accessories & Tuning; Repair & Maintenance; Tyres & Batteries and Service Station & Car Wash. It will also feature the popular Automechanika Academy – a series of seminars and workshops given by leading experts and prominent industry figures. These seminars will focus on key issues that affect the automotive aftermarket.

Posted by : BIZ COM - For Proactive Communications,
Viewed 18940 times
PR Category : Automobile
Posted on : Wednesday, April 9, 2014  2:43:00 PM UAE local time (GMT+4)
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