The Indian automobile aftermarket is slated to reach a value of USD 14 million by 2028, informed Automobile Components Manufacturer’s Association (ACMA) officials in a recent press conference held at Delhi in the run up to ACMA Automechanika aftermarket fair scheduled to be held from 1 February to 3 February at Pragati Maidan. 

The figures – insights from the organisation’s Global Automotive Aftermarket Research Report that was conducted in partnership by Ernst & Young – point at an aftermarket expansion in the wake of a consistent rise in the vehicle population, currently standing at 340 million and anticipated to exhibit a compound annual growth rate (CAGR) of eight percent till FY2028. 

Notably, the two-wheeler and passenger vehicles segments are poised for substantial growth, with projections indicating an increase from 257 to 365 million units and from approximately 47 to over 72 million units, respectively, by 2028. 

Pre-owned car sales are forecasted to experience a robust 17.5 percent CAGR until FY2028, propelled by organised businesses and online platforms. Furthermore, the commercial vehicle parc is set to expand from 13 million units to 19 million units by 2028. 

In the tractor segment, which presently contributes nearly USD 1 billion to the Indian aftermarket, the parc is expected to escalate from 14 million units to over 19 million units during the period.

The study, centering on seven key product categories including engine parts, suspension and braking parts, transmission parts, rubber components, cooling systems and filters—reveals that the Indian automotive aftermarket reached a valuation of USD 10 billion in 2023. 

Internationally, the study spanned 39 countries, concentrating on 10 significant export markets and pinpointing export opportunities exceeding USD 35 billion. Among these markets, Indonesia, LATAM, Poland, Brazil, Colombia and Bangladesh feature as a mature aftermarket with a significant number of aging vehicles. 

In contrast, North Africa, South Africa, East Africa, West Africa and the UAE are rapidly evolving markets, presenting substantial growth prospects. The collective export potential to these ten markets is projected to surpass USD 35 billion by 2028.

Speaking about the market potential for the industry, ACMA President, Shradha Suri Marwah, said, "The insights from the research highlight unique opportunities for the Indian auto component aftermarket players. The Indian components suppliers need to focus on building partnerships with international buying groups to gain market access, invest in marketing and branding, increase digital presence and build collaboration amongst the industry players to provide their joint offerings to tap the global market opportunities.”

Expressing his views on the performance of the industry, Director General of ACMA, Vinnie Mehta, said, “The Indian auto component makers witnessed a promising 7.5 percent growth in the first half of FY24 due to increased demand for pre-owned vehicles, preferential shift towards larger vehicles and the increasing formalisation of the repair and maintenance market. On the back of fast-growing aftermarket opportunities, we are thrilled with the response for participation, from both domestic and international players, at the ACMA Automechanika 2024. The event gives auto component manufacturers from across the world a platform to connect and demonstrate capabilities in the aftermarket. The exhibition has been seamlessly integrated into Bharat Mobility Global Expo 2024.”

South Korean lubricant maker Daewoo has re-entered the Indian automotive market under a strategic licensing collaboration with Mangali Industries.

With this association, Mangali Industries will introduce Daewoo’s range of lubricants for the two-wheelers, passenger cars, commercial vehicles and agriculture segments.

Vineet Singh, Director - Strategy & Growth, Daewoo, said, “Daewoo has always stood for innovation, trust and performance. Through this powerful alliance between Daewoo and Mangali Industries, we are shaping the future of high-performance lubricants in one of the world’s most dynamic and demanding markets. With this launch, we embark on a long-term journey dedicated to empowering the Indian automotive industry.”

Sang-hwan Oh, DGM, POSCO – Korea, shared his views on Daewoo’s dedication to quality and customer satisfaction, ensuring that every product meets rigorous international standards while adapting to evolving demands of local consumers.

German technology and services company Bosch has launched Supply Chain Studio, a cloud-based suite of tools aimed at enhancing supply chain efficiency and visibility.

The announcement was made at the first-ever Mobility Platform and Solutions’ (MPS) Summit 2025. It aims to address key gaps in transport & warehouse management and last-mile operations among others.

Bosch Supply Chain Studio will allow seamless integration with ERPs and third-party marketplaces to meet diverse operational needs. It offers solutions such as transport booking & management, warehouse booking, smart warehouse, bay & yard manager and e-distributor.

In addition, Bosch MPS also introduced the ARC Partner Program – Accelerate, Rise, Collaborate, which it shared will foster co-innovation with partners across logistics, EV mobility, supply chain tech and parking management.

Sandeep Nelamangala, Joint Managing Director, Bosch & President, Bosch Mobility India, said, “The Bosch MPS Summit reflects the collaborative spirit driving the future of mobility. Launching the Supply Chain Studio here allowed us to bring all key stakeholders – manufacturers, transporters, warehouse operators and distributors – onto one platform. We’re excited to work with them and continue driving digitalisation in our supply chains.”

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Banner Batteries, one of Europe’s leading manufacturers of original equipment batteries, has appointed Andrew Russell as its new Business Development Manager for Northern England and Scotland. The appointment is in line with Banner’s strategy to increase its market share in these key regions.

Russell will be responsible for enhancing connections with Banner's extensive clientele, which includes motor factors, independent distributors, garages, and specialty automobile parts stores. He will report to Country Manager Lee Quinney. Russell brings with him over two decades of experience in the UK aftermarket sector. Russell, who graduated from the University of the West of England with a BA (Hons) in Business Administration, began his career in retail management before switching to sales. Prior to joining Banner, he was Ring Automotive's Business Development Manager, where he was named the company's top salesperson in 2023. Account management, company development and building enduring connections with customers are his strong points.

Russell said, “I am delighted to get the opportunity to work for Banner, not only as they are one of Europe’s leading manufacturers of original equipment batteries, but a family-owned business. In order to continue to develop Banner’s market penetration across what is an important sales territory, I shall be looking to focus on four key principles – promoting O/E product quality aligned to price competitiveness, delivering outstanding levels of customer service and developing long-standing and successful customer relationships.”

Quinney said, “The whole team at Banner is delighted to welcome Andrew into the fold. He has a proven track record in the automotive aftermarket, and we are confident this will prove instrumental in strengthening Banner’s position across Scotland and the north, both of which are important strategic territories. Supplying a first-class service to our customer base remains one of our main priorities, together with promoting Banner’s original equipment pedigree, and Andrew will help spearhead this moving forwards.”

Manba Finance Limited, a NBFC, has announced a strategic alliance with BGauss Auto, Fin Coopers Capital and ProsParity to drive a shift towards sustainable mobility and empower the aspirations of customers across the country.
The association with BGauss Auto will help Manba Finance Limited to financing the former’s electric vehicles (EVs), making it easier in turn to tap the growing green mobility market. The NBFC company claims to use technology to streamline lending such that it ensures efficiency and transparency. It is said to offer a range of financial solutions for new two-wheelers, three-wheelers, electric two wheelers, electric three wheelers, used cars and to small businesses. 
The alliance with Fin Coopers Capital in vehicle financing would offer Manba Finance the opportunity to leverage the former’s expertise in investment and capital management. 
The association with ProsParity, on the other hand, will provide the company access to an advanced digital platform that streamlines credit flow and enhances loan processing. 
Monil Shah, Executive Director and Chief Business Officer, Manba Finance Limited, said about the development: “Our partnerships with BGauss Auto, Fin Coopers Capital, and ProsParity will help us to strengthen our commitment to delivering innovative and accessible financial solutions. These partnerships enable us to expand our reach, enhance our offerings, and support communities across India with efficient, transparent, and socially responsible services. Together, we aim to empower individuals and businesses, driving positive change and fostering long-term growth."