New Delhi: The USD 56.5 trillion crore Auto component industry The world is poised to see a potential opportunity worth approximately USD 135 billion in 2030, if there is continuous improvement and global growth. internal combustion engine According to a joint study, ICE is combined with innovation in emerging technologies. McKinsey and ACMA.
The The study identified three areas that could be helpful to the auto industry’s adaptation to the new technological shifts.
According The report states that traditional ICE is undergoing continuous improvement and expansion. India This report shows a USD 35 to USD 45 billion opportunity for 2030. The Study found that there are more opportunities in the ahref=”https://auto.economictimes.indiatimes.com/tag/automotive+market”>automotive Market Like two- and three-wheeler suppliers, which are facing early electrification, pivot into segments that will gradually electrify.
“Capture opportunities in automotive-like adjacent sectors, e.g., construction and mining equipment, rolling stocks for railways/metros, defence sector, etc. – all of which are growing and have a sizable market,” The report was updated.
The According to a study, sales of electric two-wheelers/three-wheelers could increase by 50% and 70% by 2030. “ICE will continue to dominate the Indian PV and HCV landscape, with slower electrification. Electric PVs and HCVs are expected to account for 10% to 15% and 5% to 10% percent of new vehicle sales respectively by 2030,” The report was highlighted.
The According to a study, sales of electric two-wheelers/three-wheelers could increase by 50% and 70% respectively by 2030.
SecondlyAccording to the report, a global expansion in current ICE categories would give rise to a USD 35-50 billion opportunity by 2030. Auto Parts suppliers should export more on the strength of shifting supply chain strengths. Companies seek greater resilience and diversification beyond traditional geographies to increase their global reach.
The Indian Companies could capitalize on opportunities in these areas India Exports enjoy traditional advantages, and they are growing faster than other suppliers from the same region. These It includes categories like castings, forgings and gear box parts, suspension parts as well as axles and wheel rims.
With The faster penetration of EVs. However, the report stated that the US market and the EU market will likely lose scale to localize traditional component categories (forgings or castings, for example). Because of low demand volumes, high variety.
“Make the most of the global component manufacturing rebalancing opportunity due to electrification. India-based players could serve these markets, leveraging the lower-cost labour advantage,” It was highlighted.
LastlyInnovation in newer opportunities is a US 25-40 billion opportunity by 2030. As The report states that the emerging white spaces for auto component players in EV categories include supply chain of battery cells, battery pack manufacture, emotor supply chain, and eaxle/reducer.
“Expand into downstream service use-cases and their delivery, especially connectivity, where India has advantages to make a global play – software capabilities, application engineering capabilities and lower cost base,” The report stated.
According According to preliminary estimates, the report mentioned that a transition from ICE to EVs could have an effect on up to 50% of ICE bill-of-material (BOM components). This This could cause disruption to the portfolios of incumbents in traditional ICE category categories.
According According to preliminary estimates, the report mentioned that a transition from ICE to EVs could have an effect on up to 50% of ICE bill-of-material (BOM components).
This disruption could be an opportunity too – creating multiple whitespaces for companies to cater to the new EV BOM needs and generate avenues to serve markets outside India In both ICE component and EV component categories. These The report noted that new or expanded value pool will be created, which can be captured by players pivoting and diversifying with agility.
The Wall Street JournalCiting the managing officer Yoshihige NomuraLater, it was revealed that Honda The public was being considered for the electric motorcycle unit.
The Shift global includes a family electrified vehicles technologies (xEVs), which include SHEV (Shelf-Powered Electric Vehicles).Strong Hybrid Electric VehicleFCEV (Fuel Cell Electric VehicleBEV (Belgian Electric Vehicle)Battery Electric Vehicle) and PHEV (Plug-in Hybrid Electric Vehicle).
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