With production value of USD147 billion, India accounts for 7.0% of the Asia Pacific total in 2023. The industry’s exports share decreases in 2023 to 8.8% of total production output. The industry’s profitability increases and stands at 6.4% of production value in 2023, the 15th highest regionally. The costs of the industry increase by 2.9% in 2023, largely driven by rising B2B costs. The total number of companies increases in 2023, to 826,392 units. The industry is fragmented, with the top five companies generating 34.4% of total production value in 2023. Maruti Suzuki India Ltd is the largest company in India, generating 12.0% of the industry’s total production value in 2023. India has the third largest market size for motor vehicles and parts regionally, with demand reaching USD162 billion in 2023. B2B drives market demand, with B2B spending representing 87.6% of total demand in 2023. The market is dominated by domestic suppliers, as imports account for 9.0% of total market size in 2023.
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This Euromonitor industrial report provides unique information on Motor Vehicles and Parts in India: ISIC 34. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Motor Vehicles and Parts in India: ISIC 34 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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