The Indian automobile industry is undergoing a major transformation, largely influenced by technology, innovative designs, digitisation, new manufacturing processes, changing consumer preferences, and more.
This rapid shift in the auto industry is not only accelerating innovation from the auto manufacturers, but it is also pushing the auto component manufacturers to evolve and innovate. The auto component manufacturers are also looking at realigning their business models and optimising processes to align with the demands arising from consumers, and factors such as autonomous driving, smart mobility, connected devices, e-mobility, and more.
The exports in the Indian auto component industry could account for as much as 26% of the market by 2021. The Indian auto component manufacturers have major competitive advantages as the manufacturing costs are lower by 10 – 25% relative to the operations in Latin America & Europe. Geographical proximity to key automotive markets like the Middle East and Europe adds to the export opportunities.
The Auto Expo, jointly organised by the Confederation of Indian Industry (CII), Automotive Component Manufacturers Association of India (ACMA), and Society of Indian Automobile Manufacturers (SIAM) has emerged as Asia’s largest automotive show. Over the last few years, Auto Expo has provided a platform for automobile manufacturers and auto component manufacturers to showcase their products and innovations to a wider audience in the Auto Expo Motor Show and the Auto Expo Components Show, respectively.
The Auto Expo Components Show in 2018 witnessed participation from component manufacturers from over 20 countries across the world.
With ‘TECHNOVATION – Discover Innovations for Future’ as the Theme for Auto Expo 2020 – Components, the focus was on technological innovations driving product innovation, efficient manufacturing, future trends on mobility and logistics. The 15th edition of the show was held from
6-9 February 2020, in Pragati Maidan, New Delhi. Convergent world-class technologies disrupting the auto component industry, exclusive display of components and technology, innovations, and focussed pavilions were the major highlights of the show.
With Artificial Intelligence (AI), connected cars, electric vehicles (EVs), battery technologies, etc. shaping the roadmap for future mobility, Future Technologies, a focussed pavilion brought tomorrow’s technologies to the forefront at the show. This exclusive pavilion intended to provide a roadmap of energy-efficient and low-emission systems for India. Some of the future-ready technologies showcased were upgraded hybrid and battery technology, solar-driven charging stations, and upgraded refineries & fuel pumps.
Some other focussed pavilions included ACMA safer drives, ACMA Innovation, bearing, and garage equipment. These theme-based pavilions enabled companies to display their technological and manufacturing expertise in their line of businesses.
Visitors were able to witness the latest advancements in BSVI and emissions, safety, and e-mobility at the show. The Auto Expo 2020 – Components show also provide a platform for global component manufacturers to showcase their technology prowess and the international appeal was evident from the exclusive international pavilions.
With close to 1500 exhibitors from 20 different countries, Auto Expo 2020 – Components provided an unparalleled platform for exploring business opportunities in the automotive sector. Exhibitors from different segments, namely EV & automotive components, charging infrastructure, oils and lubricants, quality and inspection, and more were present at the Auto Expo 2020 – Components.
Auto Expo has been the ideal platform for international auto manufacturers to leverage the advantage of the Indian auto manufacturing eco-system. With Auto Expo 2020 – Components, international auto manufacturers were looking at opportunities to increase the localization of components and optimising processes for eco-friendly vehicles.
The expo witnessed global participation from countries including Canada, Korea, Italy, UK, China, Japan, and more. ACMA Global SME Technology Partnership Meet 2020 saw participation from international delegates, global Original Equipment Manufacturers (OEMs), component suppliers, etc. engaging in discussions about new opportunities in next-generation mobility solutions.
The Indian auto component industry is expected to grow to $200 billion by 2026 as India has strong manufacturing capabilities to meet the manufacturing demands of the global automotive OEMs. With exports likely to grow 5x in the next 10 years, the Indian auto components industry can play a pivotal role in realising India’s dream to achieve $5 trillion GDP by 2024.