IBEF-印度汽车零部件行业报告（2019年3月）（英文）-2019.3-33页.pdf

For updated information,please visit www.ibef.orgMarch 2019AUTO COMPONENTSTable of ContentExecutive Summary.3Advantage India.4Market Overview.6Recent Trends and Strategies.13Growth Drivers.16Opportunities.23Key Industry Associations.28Useful Information.29For updated information,please visit www.ibef.orgAuto components3EXECUTIVE SUMMARYSource:ACMA,Make in India,News Articles,ICRA,CrisilOver the last decade,the automotive components industry has registered a CAGR of 6.83 per cent and hasreached to US$51.20 billion in 2017-18 while exports have grown at a CAGR of 11.42 per cent to US$13.5billion.Auto components production in 2018-19 to increase by 12-14 per cent due to robust growth indomestic and export market.Indian tyre industry expects a 7-9 per cent growth over FY19-23.The capital expenditure by the domestic automotive component manufacture is expected at around Rs 24,000crore(US$33.26 billion)over the FY19 and FY20.Domestic auto component industry is expected to grow at 15 per cent in FY19.Robust growthThe growth of global OEM sourcing from India&the increased indigenisation of global OEMs is turning thecountry into a preferable designing and manufacturing base.Rising indigenisationThe Indian auto-components industry is expected to register a turnover of US$100 billion by 2020 backed bystrong exports ranging between US$80-100 billion by 2026.Increasing turnoverThe auto-components industry accounted for 2.3 per cent of Indias Gross Domestic Product(GDP)in 2017-18.During 2017-18,1.5 million people directly and 1.5 million people indirectly were employed in the auto-components industry.Contribution to GDP and employmentIndia is expected to become the 4th largest automobiles producer globally by 2020 after China,US&Japan.The auto components industry is also expected to become the 3rd largest in the world by 2025.Growing automobile industryThe auto-components industry is expected to follow OEMs in adoption of electric vehicle technologies.Theglobal move towards electric vehicles will generate new opportunities for automotive suppliers.The massconversion to electric vehicles may generate a US$300 billion domestic market for EV batteries in India by2030*.Electric vehicles pushNote:OEM:Original Equipment Manufacturer,EV Electric Vehicles,*As per NITI AayogAuto componentsADVANTAGE INDIAFor updated information,please visit www.ibef.orgAuto components5ADVANTAGE INDIAGrowing working population&expanding middle class are expected to remain key demand driversIndia is the fourth largest automobile market globally.Reduction in excise duties in motor vehicles sector to spur the demand for auto componentsIndia is emerging as global hub for auto component sourcingRelative to competitors,India is geographically closer to key automotive markets like the Middle East&Europe In December 2018 India pitched to boost its exports in auto components in the market of China.A cost-effective manufacturing base keeps costs lower by 10-25 per cent relative to operations in Europe&Latin AmericaPresence of a large pool of skilled&semi-skilled workforce amidst a strong educational systemThird largest steel producer globally hence a cost advantageIn September 2015,Automotive Mission Plan 2016-26 was unveiled which targets a fourfold growth for the sectorStrong support for R&D&product development by establishing NATRiP centres100 per cent FDI allowed under automatic route for auto component sectorIn January 2019,The Government of India lowered the custom duty on import of parts and components of electric vehicles to 10-15 per cent.ADVANTAGEINDIANotes:NATRiP-National Automotive Testing and R&D Infrastructure Project,FY-Indian Financial Year(April to March),R&D Research and DevelopmentAuto componentsMARKET OVERVIEWFor updated information,please visit www.ibef.orgAuto components7Auto ComponentsPistons&piston ringsGearsBrake&brake assembliesHeadlightsStarter motorsSheet metal partsPower train componentsClutchesOther panel instrumentsOther equipmentEngine valves&partsWheelsBrake liningsHalogen bulbsSpark plugsHydraulic pneumatic instrumentsFuel-injection systems&carburetorsSteering systemsShock absorbersWiper motorsElectric Ignition Systems Fan beltsCooling systems&partsAxlesLeaf springsDashboard instrumentsFlywheel magnetosPressure die castingsPRODUCT SEGMENTSSource:ACMAEngine PartsDrive transmission&steering parts Body and chassisSuspension&braking partsEquipmentElectrical partsOthersFor updated information,please visit www.ibef.orgAuto components8ROBUST GROWTHRevenues have risen at a CAGR of 6.83 per cent from US$26.44 billion in FY08 to US$51.20 billion in FY18.Domestic OEM supplies contribute 55.97 per cent of the industry turnover followed by exports(26.20 per cent)and domestic aftermarket(17.82 per cent).Exports of automobile components from India in FY18 stood at US$13.5 billion.As per Automobile Component Manufacturers Association(ACMA)forecasts,automobile component exports from India are expected to reach US$80 billion by 2026.The Indian auto component industry aims to achieve US$200 billion in revenues by 2026.Auto-component production in 2018-19 is expected to increase 12-14 per cent in FY19,on the back of robust growth in domestic and export markets.*Source:ACMAAggregate turnover*(US$billion)26.4424.0929.2341.3142.6839.6935.0038.4139.0543.5551.200.0010.0020.0030.0040.0050.0060.00FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17FY18CAGR 6.83%Note:CAGR Compound Annual Growth Rate,*As per CRISIL Research,*Turnover data covers supplies to OEMs,aftermarket sales and exports,Exchange Rates as per on page 31,Updated data is expected after September 2019.55.97%26.20%17.82%OEM SuppliesExportsAftermarketShare in turnover of auto components industry(FY18)For updated information,please visit www.ibef.orgAuto components9EXPORT GROWTHSource:ACMA34%28%25%6%5%2%EuropeNorth AmericaAsiaLatin AmericaAfricaCIS and BalticsValue of auto component exports(US$billion)Shares in exports by geography(FY18)Indias exports of auto components increased at a CAGR of 11.42 per cent,during FY09-FY18,with the value of auto component exportsincreasing from US$5.10 billion in FY09 to US$13.50 billionin FY18.Europe accounted for a volume share of 34 per cent during FY18 in Indian auto component exports followed by North America and Asia with 28and 25 per cent respectivelyin the same year.Note:Exchange Rates as per on page 31,Updated data is expected after September 2019.5.103.996.658.919.6810.1611.2110.8310.9013.500.002.004.006.008.0010.0012.0014.0016.00FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18CAGR 11.42%For updated information,please visit www.ibef.orgAuto components10AFTERMARKET GROWTHSource:ACMA21%18%18%15%14%8%3%3%Drive Transmission andSteeringEngine ComponentsElectricalsSuspension and BrakingConsumables andMiscellaneousCooling SystemsRubber ComponentsElectronic ComponentsValue of aftermarket turnover(US$billion)Product wise share in aftermarket turnover(FY18)Indias auto components aftermarket contributed 17.82 per cent of the total industry turnoverin FY18.Turnover of the aftermarket has increased at a CAGR of 9.67 per cent from US$5.80 billion in FY13 to US$9.20 billion in FY18.The Driving Transmission and Steering product category accounted for the largest part of the aftermarket at 21 per cent,followed by EngineComponents and Electricals at 18 per cent each and Suspension and Braking at 15 per cent.Note:Exchange Rates as per page 31,Updated data is expected after September 20195.805.906.506.808.409.200.001.002.003.004.005.006.007.008.009.0010.00FY13FY14FY15FY16FY17FY18CAGR 9.67%For updated information,please visit www.ibef.orgAuto components11SHARES IN PRODUCTION AND SUPPLYSource:ACMAAuto component supply to OEMs(FY18)79.61%13.79%3.08%3.51%Two WheelersPassenger VehicleCommercial VehicleThree WheelersDomestic market share by segment(FY18)(No.of units)Production of Two Wheelers,Passenger Vehicles,Commercial Vehicles and Three Wheelers reached 23.15 million,4.01 million,0.89 million,and 1.02 million in 2017-18.Passenger vehicles had the highest share of total auto component supplies to Original Equipment Manufacturers(OEMs)in 2017-18,followedby two wheelers and Light Commercial Vehicles(LCV).43%23%10%13%6%3%2%Passenger VehicleTwo wheelersMedium and heavycommercial vehiclesLight commercialvehiclesTractorsThree wheelersConstruction earthmoving equipmentsNote:Updated data is expected after September 2019For updated information,please visit www.ibef.orgAuto components12Pistons Goetze,Shriram Pistons&Rings,India Pistons,Anand I-Power Ltd.Engine Valves Rane Engine Valves,Shriram Pistons&Rings,SSV ValvesCarburetors Ucal Fuel Systems&Spaco Carburetors&Escorts Auto ComponentsDiesel-based fuel-injection systems Mico,Delphi-TVS Diesel System&Tata CumminsSteering Systems Sona Koyo Steering Systems,Rane NSK Steering Systems&Rane TRW SystemsGears Bharat Gears,Gajra Bevel Gears,ZF Steering Gear(India)Ltd,Eicher,Graziano Trasmissioni&SlAP Gears IndiaClutch Clutch Auto,Ceekay Daikin,Amalgamations Repco,Luk ClutchesDriveshafts GKN Driveshafts,Spicer India Private Ltd.,Delphi&Sona Koyo Steering SystemsBrake Systems Brakes India,Kalyani Brakes,Mando India Ltd.&Automotive AxlesBrake Lining Rane Brake Lining,Sundaram Brake Lining,Hindustan Composites&Allied Nippon Leaf Springs Jamna Auto&Jai Parabolic Shock Absorbers Gabriel India,Delphi,Mando India Ltd.&Munjal ShowaHeadlights Lumax,Autolite&Phoenix LampsDashboard Premiere Instruments&ControlsSheet metal parts Jay Bharat Maruti,Omax Auto and JBM ToolsLucas TVS,Denso,Delco Remy Electricals&Nippon Electricals are key players in this segmentMAJOR PLAYERS BY SEGMENTEquipmentSuspension&braking partsTransmission&steering partsEngine&engine partsElectrical Source:Media sources,Aranca researchNote:OEM means Original Equipment ManufacturerAuto componentsRECENT TRENDS AND STRATEGIESFor updated information,please visit www.ibef.orgAuto components14Major global OEMs have made India a component sourcing hub for their global operationsSeveral global Tier-I suppliers have also announced plans to increase procurement from their Indian subsidiariesIndia is also emerging as a sourcing hub for engine components,with OEMs increasingly setting up engine manufacturing units in the countryFor companies like Ford,Fiat,Suzuki&General Motors,India has established itself as a global hub for small enginesVarroc Lighting Systems(VLS)is supplying the complete exterior lighting solutions for Tesla Model S sedan and the Tesla Model X crossover.NOTABLE TRENDSIncreased investments in R&D operations&laboratories,which are being set up to conduct activities such as analysis,simulation&engineering animationsThe growth of global OEM sourcing from India&the increased indigenisation of global OEMs is turning the country into a preferred designing&manufacturing baseACT established to offer technical services to ACMA members for enhancing process&quality abilities through various cluster programmesFaurecia,a global automotive equipment leader,has partnered with Indian Institute of Science(IISc)to develop new technologies and solutions in three areas viz.online air quality monitoring,data analysis and algorithms for driver behaviour and artificial intelligence for industrial design.Improving product-development capabilitiesAs of August 2018,Rico Auto Industries is soon going to sign a Joint Venture(JV)deal with HZ Manufacturing to produce automatic transmission for scooters.In July 2018,air-compressor manufacturer Elgi Equipments acquired Pulford Air and Gas based in Sydney,Australia.The acquisition will help the company to expand its global footprint and help in achieving its mission of becoming a leading player in the global air-compressor market by 2027.National Company Law Tribunal(NCLT)approved the amalgamation of INA Bearings India and LuK India on September 7,2018.Mahindra CIE Automotive,auto component firm has decided to acquire Aurangabad Electricals Ltd(AEL)through acquisition of 100 per cent equity shares for a value of Rs 875.60 Crore(US$121.36 million)Inorganic route to expansionSource:Aranca ResearchGlobal components sourcing hubNote:OEM means Original Equipment Manufacturer ACT-ACMA Centre for TechnologyFor updated information,please visit www.ibef.orgAuto components15STRATEGIES ADOPTEDMany Indian firms specialising in only one product market or segment&are looking forward to diversify horizontally in other segments like 2-wheelers,passenger cars or commercial vehicles.They are stepping up their product development capabilities in order to have the best chance of capturing growth opportunity.DiversificationIndias projected production is around 8.7 million passenger vehicles per year by 2020(with most of them being compact cars)Many MNCs like Ford,Hyundai,Toyota&GM are launching new vehicle models due to their earlier success in the Indian market.CapacityLooking at the opportunity many global suppliers for example Bosch Chassis Systems,Tenneco and Faurecia have established R&D facilities in India to adapt global designs&develop new productsIncreasing investments in R&D also assists companies in setting up laboratories,new facilities to conduct analysis,simulation&engineering animations.In August 2018,JK Tyre and Industries Ltd inaugurated its state-of-the art global technology centre in Mysore.Research at the centre will focus on various aspects of tyre technology including coming up with advanced laboratory predictors for tyre performance and recognising key inputs for life prediction of rubber products.R&D facilitiesSource:Make in India,Media SourcesNew strategiesBoth Indian&global manufacturers are investing in new capacities&newer programmes,in order to get long term advantageAs markets in North,West&South are getting saturated,components makers are now focusing on untapped market like the Northeast region of the country.Varroc Engineering,Indias second largest auto-components producer,is aiming to attract business from sales of electric vehicle components such as electronics,motors and battery management system.Auto componentsGROWTH DRIVERSFor updated information,please visit www.ibef.orgAuto components17GROWTH DRIVERSGROWTH DRIVERSCompetitive advantages facilitating emergence of outsourcing hubTechnological shift;focus on R&DSupply-side driversEstablishing special auto parks&virtual SEZs for auto components Lower excise duty on specific parts of hybrid vehiclesPolicies such as Automotive Mission Plan 2016-26,Faster Adoption&Manufacturing of Electric Hybrid Vehicles(FAME,April,2015),NMEM 2020,likely to infuse growth in the auto component sector of the country.The government is going to come out with a National Automotive Policy for boosting the growth of Indias automotive sector.In December 2018,the government notified norms under which preference shall be provided by all government procurement entities to indigenously manufactured auto components.Policy supportRobust growth in domestic automotive industryIncreasing investment in road infrastructureGrowth in the wor