印度的汽車零件產業(2011年11月) 是由出版商CARE Ratings在2011年11月所出版的。
這份英文市場調查報告書價格從美金2500起跳。
印度的汽車零件產業，受到進口和外資進入相關限制·認證的取消等因素急速成長，以全球汽車零件供給核心地點之一成長。雖然短期間受到利息率和燃料費迅速上升，及汽車需求的成長率緩慢，但一般認為中長期性將持續強勢成長。
本報告提供印度的汽車零件產業相關分析，整體市場結構與趨勢，及收入和支出結構預測，政府的法規與支援策略，各部門的市場趨勢，對外貿易趨勢，再加上主要企業簡介等資訊彙整，為您概述為以下內容。
第1章 產業預測
- 執行摘要
- 2015∼16年度，國內·出口市場需求維持健全的水準
- 2015∼16年度，國內市場以年平均19∼20％成長
- 奠定今後五年出口維持健全的狀態
- OEM企業的盈利相關的壓力滲透零件製造商
- 今後2∼3年的預料投資額達到5000∼6000億盧比
- 國內市場預測
- 2015∼16年度，國內市場以年平均19∼20％成長
- 藉由汽車製造健全的成長，促進OEM企業的需求
- 獨立型企業持續佔據更換市場大半部分
- 印度對全球汽車製造商來說是一個有吸引力的生產基地
- 印度對汽車零件產業來說也是強大的供應基地
- 今後2∼3年5000∼6000億印度盧比的投資預測
- 盈利預測
- OEM企業的盈利相關的壓力滲透零件製造商
- 近幾年銷售台數的增加與投入較低的成本，EBITDA獲利率持續上升
- 整個部門的競爭激烈
- 現金累計淨額的減少和債務資本比率的遞增
第2章 產業方案
- 簡介
- 印度的零件產業的規模
- 主要的零件部門
- 產業結構與競爭
- 經濟的重要性
- 政府的政策
- 關稅
- 國內消費稅
- 海外直接投資(FDI)政策
- 國內市場
- 伴隨汽車需求強有力的成長預測，零件需求也持續增加
- OEM市場
- 更換市場
- 出口
- 進口
- 成本分析
- 原料費
- 勞動費用
- 銷售管理費(SDC)
- 研究開發費(R&D)
- 財務狀況
- 伴隨著投入費用增加,營業利潤下降(2010∼11年度)
- ROCE(使用資本報酬率)的上升,使有效利用水準改善(2010∼11年度)
- 伴隨著借款水準降低和盈利的上升，資金籌措力比率改善
- 引擎零件部門分析
- 驅動·傳動·操縱設備部門分析
- 車身·底盤部門分析
- 懸吊系統·剎車零件部門分析
- 設備部門分析
- 電子零件部門分析
- 其他的部門分析
第3章 企業簡介
- AMARA RAJA BATTERIES LTD
- Amtek Auto Limited
- Asahi India Glass Ltd.
- Banco Products (India) Ltd.
- Bharat Forge Ltd.
- Bosch Limited
- Exide Industries Ltd.
- Federal Mogul Goetze (India) Ltd.
- FIEM Industries Ltd.
- Gabriel India Ltd.
- GKN Driveline (India) Ltd.
- India Pistons Ltd.
- Jamna Auto Industries Ltd.
- Jay Bharat Maruti Ltd.
- JBM Auto Ltd.
- LG Balakrishnan & Bros Ltd.
- Lucas - TVS Ltd.
- Lumax Industries Ltd.
- Minda Corporation Ltd.
- Motherson Sumi Systems Ltd.
- Munjal Showa Ltd.
- Munjal Auto Industries Ltd.
- Rico Auto Industries Ltd.
- Sona Koyo Steering Systems Ltd.
- Subros Ltd.
- Sundaram Brake Linings Ltd.
- Sundaram - Clayton Ltd.
- Talbros Engineering Ltd.
- Talbros Automotive Components Ltd.
- Ucal Fuel Systems Ltd.
Abstract
INDIAN AUTOCOMPONENT INDUSTRY - ‘Volume visibility sustains confidence’
The Indian auto component sector is a thrust sector for India. The industry
has more than 500 large to medium key participants that form the organized
sector whereas there are more than 6,000 ancillary units which constitutes the
unorganized sector. OEM dominates the auto component market constituting
almost 75 per cent of the market while the replacement market has share of 25
per cent. Unorganized players mainly dominate the replacement market or they
are generally tier 3/4 component manufacturers.
The Indian Auto component industry has transitioned from a supplier for the
global aftermarket to becoming a full-scale global Tier 1 supplier. Industry
policies like manufacturing and imports free from licensing and approvals,
100% FDI in auto sector and no local content regulation of the Government have
helped the auto component sector to grow in the past.
The global key auto makers have brought along the international component
suppliers into India. Major international auto component manufacturers like
Lear Corporation, Delphi, ZF Steering, Bosch, Motherson Sumi, Denso etc have
established their strong presence in India. The entry of global manufacturers
enabled introduction of new technologies, new products, improved quality and
better efficiencies which in turn acted as a catalyst to the development of
local component industry.
The year FY12, seems to be challenging year for the industry, as slowdown in
demand growth owing to sharp rise in interest rates and fuel prices is
expected to taper down industry growth from the levels it observed in FY10 and
FY11. On profitability front in FY12, pricing pressure exerted by OEMs in
order to check their drop in margins owing to drop in growth levels would
strain the margins of auto component players as well.
In the short term CARE Research expects it would be challenging for the
industry, as slowdown in automobile sales growth would impact auto component
industry as well. However, these concerns would taper off in medium to long
term period and industry growth is expected to remain at healthy levels.
CARE Research has developed a detailed statistical model that attempts to
forecast the domestic auto component demand with the respective share of the
OEM and the replacement market. The OEM segment sales are forecasted on the
basis of demand for automobile from various segments and the replacement
market demand is forecasted on the basis of the existing vehicle fleet and
expected growth in population Other qualitative factors like macro-economic
outlook, government actions, consumer confidence actions of OEMs like
launches, aggressiveness, sales push techniques, dealer network, etc. have
also been quantitatively built in demand forecasting model.
Table of Contents
SECTION I: INDUSTRY OUTLOOK
EXECUTIVE SUMMARY
- Demand to remain at healthy levels for both domestic market and exports
till 2015-16
- Domestic market to grow at a CAGR of 19-20 per cent till 2015-16
- Export to remain healthy for the next five years
- Profitability pressure of the OEMs to trickle down to component
manufacturers
- Investments of around Rs.500-600 billion are expected in next 2-3 years
OUTLOOK ON DOMESTIC MARKET
- Domestic market to grow at a CAGR of 19-20 per cent till 2015-16
- Healthy growth in automobile production to drive demand from the OEM
segment
- Unorganized players would continue to dominate the replacement market
- India becoming preferred manufacturing destination for global automobile
manufacturers.....
- ..... and a sourcing hub for component industry
- Investments of around Rs. 500-600 billion are expected in next 2-3 years
OUTLOOK ON PROFITABILITY
- Profitability pressure of the OEMs to trickle down to component
manufacturers
- EBITDA margins remained buoyant on the back of strong growth in volumes
and drop in input cost during
- last two fiscals
- Competition to intensify across all verticals
- Net cash accruals to witness slowdown, while debt-equity to increase
marginally
SECTION II: INDUSTRY SCENARIO
INTRODUCTION
- Size of Indian Component Industry
- Key Component Segments
- Industry structure and competition
- Importance to the Economy
- Government Policies
- Custom Duty
- Excise Duty
- Foreign Direct Investment (FDI) Policy
DOMESTIC MARKET
- Strong growth scenario in automobile demand kept auto component market
buoyant
- OEM market
- Replacement Market
EXPORTS
- Market Size and Trend in Exports
- Key export products
IMPORTS
- Size of Imports
- Key sources of Imports
COST ANALYSIS
- Raw Material Cost
- Employee Costs
- Selling and distribution cost (SDC)
- Research and Development Cost (R&D)
CREDIT PROFILE
- Operating margins dropped on the back of rise in input cost in 2010-11
- Drop in interest cost owing to decrease in borrowing levels pushed net
margins upwards
- Improvement in asset utilisation levels fuelled the rise in ROCE during
2010-11
- Drop in borrowing levels and rise in profitability led to significant
improvement in gearing
ANALYSIS OF ENGINE COMPONENT SEGMENT
ANALYSIS OF DRIVE TRANMISSION AND STEERING SEGMENT
ANALYSIS OF BODY AND CHASSIS SEGMENT
ANALYSIS OF SUSPENSION AND BRAKING COMPONENT SEGMENT
ANALYSIS OF EQUIPMENT SEGMENT
ANALYSIS OF ELECTRICAL COMPONENT SEGMENT
ANALYSIS OF RESIDUAL SEGMENT
SECTION III: COMPANY PROFILE
- AMARA RAJA BATTERIES LTD.
- Amtek Auto Limited
- Asahi India Glass Ltd.
- Banco Products (India) Ltd.
- Bharat Forge Ltd.
- Bosch Limited
- Exide Industries Ltd.
- Federal Mogul Goetze (India) Ltd.
- FIEM Industries Ltd.
- Gabriel India Ltd.
- GKN Driveline (India) Ltd.
- India Pistons Ltd.
- Jamna Auto Industries Ltd.
- Jay Bharat Maruti Ltd.
- JBM Auto Ltd.
- LG Balakrishnan & Bros Ltd.
- Lucas - TVS Ltd.
- Lumax Industries Ltd.
- Minda Corporation Ltd.
- Motherson Sumi Systems Ltd.
- Munjal Showa Ltd.
- Munjal Auto Industries Ltd.
- Rico Auto Industries Ltd.
- Sona Koyo Steering Systems Ltd.
- Subros Ltd.
- Sundaram Brake Linings Ltd.
- Sundaram - Clayton Ltd.
- Talbros Engineering Ltd.
- Talbros Automotive Components Ltd.
- Ucal Fuel Systems Ltd.
