The car accessories industry in India encompasses non-essential vehicular components like in-car audio systems, car perfumes, mats, and fog lights. The car accessories market in India is calculated to be in the range of USD 8 billion in 2007. The Indian car accessories industry has seen substantial foreign investments in recent years. All Indian car accessories manufacturing companies are members of the Automotive Components Manufacturers Association (ACMA).
Foreign Collaborations
Foreign investments in the Indian auto ancillary manufacturing sector include not only wholly owned foreign subsidiaries, but also joint technical and financial collaborations with Indian partners. The Indian partner supplies the market knowledge, while the foreign collaborator provides the technical know-how. Technology transfer also takes place from the foreign partner to the Indian one
List of Car Accessories
The following products are regarded as car accessories in the Indian context:
- Car alarm
- Car glass
- Catalytic converter
- Child safety lock
- Cigar lighter receptacle
- Continental tire
- Wing mirror
- Hubcap
- Immobiliser
- Power window
- Power seat
- Power door locks
- Power steering
- Remote keyless system
- Rear-view mirror
- Sunroof
- Navigation devices (GPS)
The car accessories market in India is slowly getting more and more organized. The trend is more prevalent in the car security and audio segment.
Trade Shows
Annual trade shows like Auto Expo attract exhibitors from all over the world. More than 50 foreign car accessories exhibitors have participated in the 2008 Auto Expo trade show. About 150,000 visitors were seen interacting with the exhibiting companies in the fair grounds. The boom in the industry is subscribed to India's growing economy and its increasingly prosperous population with disposable incomes.
