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This research service analyzes the Indian passenger and small commercial vehicles aftermarket, the aftermarket's future outlook, and the opportunities it offers to various participants in the value chain. The base year for the analysis is 2019, and the forecast period is 2020 to 2026.The study discusses the impact of various factors—economic climate, regulatory environment, investment opportunities, government initiatives, and passenger miles traveled—on the aftermarket. Metrics, such as new vehicle sales and VIO forecast, were also used. The forecast for new vehicle sales is split by vehicle type and VIO, by vehicle age. Additional factors, such as vehicles by fuel type, shared mobility in the Indian market, technician training, and the average age of a vehicle are also discussed.This research service discusses the impact of COVID-19 on the Indian aftermarket and offers insight into how the market will evolve. New business models and technologies, such as eRetailing, telematics, new service solutions, as well as the challenges and growth opportunities in the aftermarket ecosystem, are also analyzed. It offers a general overview of the distribution channel, product flow in IAM and OES channels, major distributors, comparison of after-sales services offered by OEMs, and the expected evolution of the distribution channel. The overall aftermarket revenue market size and forecast are based on the aforementioned factors. The base year market is split by replacement part market size, as well. Major trends that affect the IAM and the OES, and growth opportunities for all stakeholders in the aftermarket are also discussed.
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Author: Vasanth Raj
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