Automotive sector in India is prospering at a rapid pace driven by cost competitiveness, improving infrastructure, and rising incomes. A testament of the future potential of the market is that the global players have either set up facilities in India or are going to. Today, India has risen to be the second largest two-wheeler manufacturer in the world, and seventh in global production in motor vehicles.
The growth has had a direct impact on the automotive component manufacturing segment which has witnessed many several emerging to meet the increasing demand. In recent years, many automotive component manufacturers have gone beyond their role as parts suppliers for automotive manufacturers to enter other segments of the value chain. Many companies are moving past pure component manufacturing to operate as system integrators.
If we look at the market landscape in Maharashtra, the automobile cluster has been developing due to the state’s strong human capital, geographical advantage with access to ports, well-developed financial institutions, rising demand in the western region, and presence of big industrial houses. In addition, with the liberalization process, the state government has been providing a favourable investment climate and supporting infrastructure, which is attracting higher investment and industries to this state, including many automobile and component manufacturers. With the fillip from the government and the industrial maturity of the state, the segment is only going to thrive further with OEMs focusing on local manufacturing, and in fact closer to the regions where automobile makers have their facilities.
After studying this market landscape in-depth, we have come up with the list of Top 10 Auto Components Manufacturers In Maharashtra 2021 who have excelled in this field with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd.
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