THE Apex body of Indian auto component industry Automotive Component Manufacturers Association of India (ACMA) says aftermarket will reach $13 billion by 2020 from the current $8.4 billion.
“Though in the long term aftermarket auto component industry is expectd to reach $32 billion by 2026 but by 2020 it is going to reach $13 billion from the current $8.4 billion,” said Director General of ACMA Vinnie Mehta.
He was talking to mediapersons on the second day of the 3rd edition of India’s premium automotive aftermarket trade fair - ACMA Automechanika at Pragati Maidan.
This biennial event offers an effective networking platform to wholesalers, distributors, traders and component manufacturers to showcase their innovations besides getting access to global technology culture for future synergies and partnerships.
“Since its debut in 2013 ACMA Automechanika New Delhi has grown constantly in both quantity and quality. This year we have over 550 exhibitors, which is a record. There are six international pavilions at the fair: From China, Germany, Korea, Singapore, Taiwan and the United Kingdom. This shows the great potential of the Indian automotive market and the international interest in it,” added Mehta.
Market leaders and innovators such as Schaeffler India Automotive Aftermarket, Ample Autotech Pvt ltd, Elofic Industries, Delphi Automotive Systems Pvt. ltd, Jamna Auto Industries ltd, liqui Molly, Mansons International Pvt ltd, Shriram Pistons & Rings ltd, Sigma Corporation India Pvt ltd, ZF India are the key players exhibiting at the fair.
Besides, ACMA is making customers aware of safe drive through its latest initiatives on road safety and usage of genuine components. ACMA Safer Drives pavilion allows visitors to evaluate parts and components and distinguish real from fake, to make well-informed procurement decisions.
“This is ACMA’s efforts towards eliminating the usage of counterfeit parts that directly or indirectly leads to road accidents and fatalities in India,” added Mehta.