印度汽车工业报告（英文）课件

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1、Table of ContentExecutive Summary.3Advantage India.4Market Overview.6Recent Trends and Strategies.13Growth Drivers.16Opportunities.23Key Industry Associations.28Useful Information.293EXECUTIVE SUMMARY Over the last decade,the automotive components industry has registered a CAGR of 6.83 per cent and

2、hasreached to US$51.20 billion in 2017-18 while exports have grown at a CAGR of 11.42 per cent to US$13.5billion.Auto components production in 2018-19 to increase by 12-14 per cent due to robust growth indomestic and export market.Indian tyre industry expects a 7-9 per cent growth over FY19-23.The c

3、apital expenditure by the domestic automotive component manufacture is expected at around Rs 24,000crore(US$33.26 billion)over the FY19 and FY20.Domestic auto component industry is expected to grow at 15 per cent in FY19.The growth of global OEM sourcing from India&the increased indigenisation of gl

4、obal OEMs is turning thecountry into a preferable designing and manufacturing base.The Indian auto-components industry is expected to register a turnover of US$100 billion by 2020 backed bystrong exports ranging between US$80-100 billion by 2026.The auto-components industry accounted for 2.3 per cen

5、t of Indias Gross Domestic Product(GDP)in 2017-18.During 2017-18,1.5 million people directly and 1.5 million people indirectly were employed in the auto-components industry.India is expected to become the 4th largest automobiles producer globally by 2020 after China,US&Japan.The auto components indu

6、stry is also expected to become the 3rd largest in the world by 2025.The auto-components industry is expected to follow OEMs in adoption of electric vehicle technologies.Theglobal move towards electric vehicles will generate new opportunities for automotive suppliers.The massconversion to electric v

7、ehicles may generate a US$300 billion domestic market for EV batteries in India byRobust growthRising indigenisationIncreasing turnoverContribution to GDP andemploymentGrowing automobileindustryElectric vehicles push2030*.Note:OEM:Original Equipment Manufacturer,EV Electric Vehicles,*As per NITI Aay

8、ogSource:ACMA,Make in India,News Articles,ICRA,CrisilAuto componentsAuto componentsADVANTAGE INDIAAuto components5ADVANTAGE INDIA Growing working population&expandingmiddle class are expected to remain keydemand drivers India is the fourth largest automobilemarket globally.Reduction in excise duties

9、 in motorvehiclessector to spur the demand forauto components India is emerging as global hub for autocomponent sourcing Relativeto competitors,India isgeographically closer to key automotivemarkets like the Middle East&Europe In December 2018 India pitched to boostits exports in auto components in

10、themarket of China.A cost-effective manufacturing base keepscosts lower by 10-25 per cent relativetooperations in Europe&Latin America Presence of a large pool of skilled&semi-skilled workforce amidst a strongeducational system Third largest steel producer globally hencea cost advantage In September

11、 2015,AutomotiveMissionPlan 2016-26 was unveiledwhich targets afourfoldgrowth for the sector Strong support for R&D&productdevelopmentby establishing NATRiPcentres 100 per cent FDI allowed under automaticroute for auto component sector In January 2019,The Governmentof Indialowered the custom duty on

12、 import of partsADVANTAGEINDIAand components of electric vehicles to 10-15 per cent.Notes:NATRiP-National Automotive Testing and R&D Infrastructure Project,FY-Indian Financial Year(April to March),R&D Research and DevelopmentAuto componentsMARKETOVERVIEW7Auto ComponentsPower traincomponentsClutchesO

13、ther panelinstrumentsOtherequipmentPRODUCT SEGMENTSSource:ACMAAuto componentsEngine PartsPistons&piston ringsEnginevalves&partsFuel-injectionsystems&carburetorsCoolingsystems&partsDrivetransmission&steering partsGearsWheelsSteeringsystemsAxlesBody andchassisSuspension&braking partsBrake&brakeassembl

14、iesBrake liningsShockabsorbersLeaf springsEquipmentHeadlightsHalogenbulbsWipermotorsDashboardinstrumentsElectrical partsStartermotorsSpark plugsElectricIgnitionSystemsFlywheelmagnetosOthersSheet metalpartsHydraulicpneumaticinstrumentsFan beltsPressure diecastings51.2041.3142.6839.6929.2326.4435.0038

15、.4139.0543.5524.09FY17FY08FY09FY10FY11FY12FY13FY14FY15FY16FY18Auto components8Revenues have risen at a CAGR of 6.83 per cent from US$26.44 billionin FY08 to US$51.20 billion in FY18.Domestic OEM supplies contribute 55.97 per cent of the industry turnoverfollowed by exports(26.20 per cent)and domesti

16、c aftermarket(17.82per cent).Exports of automobilecomponents from India in FY18 stood at US$13.5 billion.As per AutomobileComponent ManufacturersAssociation(ACMA)forecasts,automobilecomponent exports from India are expected to reach US$80 billion by 2026.The Indian auto component industryaims to ach

17、ieveUS$200 billion in revenues by 2026.Auto-componentproduction in 2018-19 is expected to increase 12-14 per cent in FY19,on the back of robust growth in domestic and exportROBUST GROWTHAggregate turnover*(US$billion)10.000.0020.0040.0030.0060.0050.00CAGR 6.83%markets.*Note:CAGR Compound Annual Grow

18、th Rate,*As per CRISIL Research,*Turnover data covers supplies to OEMs,aftermarket sales and exports,Exchange Rates as per on page 31,Updated data is expected after September 2019.Source:ACMA55.97%26.20%17.82%OEM SuppliesExportsAftermarketShare in turnover of auto components industry(FY18)11.2113.50

19、8.919.6810.1610.8310.905.103.996.65Auto components934%28%25%6%5%2%EuropeNorth AmericaAsiaLatin AmericaAfricaEXPORT GROWTHValue of auto component exports(US$billion)Shares in exports by geography(FY18)4.006.008.0012.0010.0014.0016.00CIS and Baltics2.000.00FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17

20、FY18 Indias exports of auto components increased at a CAGR of 11.42 per cent,during FY09-FY18,with the value of auto component exportsincreasing from US$5.10 billion in FY09 to US$13.50 billionin FY18.Europe accounted for a volume share of 34 per cent during FY18 in Indian auto component exports fol

21、lowed by North America and Asia with 28and 25 per cent respectivelyin the same year.Note:Exchange Rates as per on page 31,Updated data is expected after September 2019.Source:ACMACAGR 11.42%9.208.405.805.906.506.80Auto components1021%18%18%14%15%8%3%3%SteeringEngine ComponentsElectricalsSuspension a

22、nd BrakingConsumables andMiscellaneousCooling SystemsRubber ComponentsElectronic ComponentsProduct wise share in aftermarket turnover(FY18)Drive Transmission and Indias auto components aftermarket contributed 17.82 per cent of the total industry turnoverin FY18.Turnover of the aftermarket has increa

23、sed at a CAGR of 9.67 per cent from US$5.80 billion in FY13 to US$9.20 billion in FY18.The Driving Transmission and Steering product category accounted for the largest part of the aftermarket at 21 per cent,followed by EngineComponents and Electricals at 18 per cent each and Suspension and Braking a

24、t 15 per cent.Note:Exchange Rates as per page 31,Updated data is expected after September 2019Source:ACMA1.000.002.006.005.004.003.007.009.008.0010.00FY13FY14FY15FY16FY17FY18AFTERMARKET GROWTHValue of aftermarket turnover(US$billion)CAGR 9.67%Auto components11SHARES IN PRODUCTION AND SUPPLYAuto comp

25、onent supply to OEMs(FY18)79.61%13.79%3.08%3.51%Two WheelersPassenger VehicleCommercial VehicleThree WheelersDomestic market share by segment(FY18)(No.of units)43%10%13%6%3%2%Passenger VehicleTwo wheelersMedium and heavycommercial vehiclesLight commercialvehiclesTractorsThree wheelersConstruction ea

26、rthmoving equipments23%Production of Two Wheelers,Passenger Vehicles,Commercial Vehicles and Three Wheelers reached 23.15 million,4.01 million,0.89 million,and 1.02 million in 2017-18.Passenger vehicles had the highest share of total auto component supplies to Original Equipment Manufacturers(OEMs)i

27、n 2017-18,followedby two wheelers and Light Commercial Vehicles(LCV).Note:Updated data is expected after September 2019Source:ACMAAuto components12 Engine Valves Rane Engine Valves,Shriram Pistons&Rings,SSV Valves Carburetors Ucal Fuel Systems&Spaco Carburetors&Escorts Auto Components Diesel-based f

28、uel-injectionsystems Mico,Delphi-TVS Diesel System&Tata Cummins Steering Systems Sona Koyo Steering Systems,Rane NSK Steering Systems&Rane TRW Systems Gears Bharat Gears,Gajra Bevel Gears,ZF Steering Gear(India)Ltd,Eicher,Graziano Trasmissioni&SlAPGears India Clutch Clutch Auto,Ceekay Daikin,Amalgam

29、ations Repco,Luk Clutches Driveshafts GKN Driveshafts,Spicer India Private Ltd.,Delphi&Sona Koyo Steering Systems Brake Systems Brakes India,Kalyani Brakes,Mando India Ltd.&Automotive Axles Brake Lining Rane Brake Lining,Sundaram Brake Lining,Hindustan Composites&Allied Nippon Leaf Springs Jamna Aut

30、o&Jai Parabolic Shock Absorbers Gabriel India,Delphi,Mando India Ltd.&Munjal Showa Headlights Lumax,Autolite&Phoenix Lamps Dashboard Premiere Instruments&ControlsLucas TVS,Denso,Delco Remy Electricals&Nippon Electricals are key players in this segmentMAJOR PLAYERS BY SEGMENT Pistons Goetze,Shriram P

31、istons&Rings,India Pistons,Anand I-Power Ltd.EquipmentEngine&enginepartsTransmission&steering partsSuspension&braking partsElectrical Sheet metal parts Jay Bharat Maruti,Omax Auto and JBM ToolsNote:OEM means Original Equipment ManufacturerSource:Media sources,Aranca researchAuto componentsRECENT TRE

32、NDSAND STRATEGIESAuto components14Improving product-developmentcapabilities Increased investmentsin R&Doperations&laboratories,which arebeing set up to conduct activitiessuchas analysis,simulation&engineeringanimations The growth of global OEM sourcingfrom India&the increasedindigenisation of global

33、 OEMs isturning the country into a preferreddesigning&manufacturing base ACT established to offer technicalservices to ACMA members forenhancing process&quality abilitiesthrough variouscluster programmes Faurecia,a global automotiveequipment leader,has partnered withIndian Institute of Science(IISc)

34、todevelopnew technologies andsolutions in three areas viz.online airquality monitoring,data analysis andalgorithmsfor driver behaviour andartificial intelligencefor industrialInorganicroute to expansion As of August 2018,Rico Auto Industriesis soon going to sign a Joint Venture(JV)deal with HZ Manuf

35、acturingto produceautomatictransmission for scooters.In July 2018,air-compressormanufacturer Elgi Equipments acquiredPulford Air and Gas based in Sydney,Australia.The acquisition will help thecompany to expand its global footprintand help in achievingits mission ofbecoming a leading player in the gl

36、obalair-compressor market by 2027.National Company Law Tribunal(NCLT)approved the amalgamationof INABearings India and LuK India onSeptember 7,2018.Mahindra CIE Automotive,autocomponent firm has decided to acquireAurangabad Electricals Ltd(AEL)throughacquisition of 100 per cent equity sharesfor a va

37、lue of Rs 875.60 Crore(US$121.36 million)NOTABLE TRENDSGlobal componentssourcing hub Major global OEMs have made India acomponent sourcing hub for their globaloperations Several global Tier-I suppliers have alsoannounced plans to increaseprocurement from their Indiansubsidiaries India is also emergi

38、ng as a sourcing hubfor engine components,with OEMsincreasingly setting up enginemanufacturingunits in the country For companies like Ford,Fiat,Suzuki&General Motors,India has establisheditself as a global hub for small engines Varroc Lighting Systems(VLS)issupplying the complete exterior lightingso

39、lutions for Tesla Model S sedan andthe Tesla Model X crossover.design.Note:OEM means Original Equipment Manufacturer ACT-ACMA Centre for TechnologySource:Aranca ResearchAuto components15STRATEGIES ADOPTEDDiversification Many Indian firmsspecialising in onlyone product marketor segment&arelooking for

40、ward todiversifyhorizontallyin othersegments like 2-wheelers,passenger cars orcommercialvehicles.They are steppingup their productdevelopmentcapabilities in orderto have the bestchance of capturinggrowth opportunity.Capacity Indias projectedproduction isaround 8.7 millionpassengervehiclesper yearby

41、2020(with mostof them beingcompact cars)Many MNCs likeFord,Hyundai,Toyota&GM arelaunching newvehicle modelsdue to their earliersuccess in theIndian market.key inputs for lifeprediction ofrubber products.R&D facilities Looking at the opportunity manyglobal suppliers for example BoschChassis Systems,T

42、enneco andFaurecia have established R&Dfacilitiesin India to adapt globaldesigns&developnew products Increasing investmentsin R&D alsoassists companies in setting uplaboratories,new facilitiestoconduct analysis,simulation&engineering animations.In August 2018,JK Tyre andIndustries Ltd inaugurated it

43、s state-of-the art global technology centre inMysore.Research at the centre willfocus on variousaspects of tyretechnology including coming up withadvanced laboratory predictors fortyre performanceand recognisingSource:Make in India,Media SourcesNew strategies Both Indian&global manufacturersare inve

44、stingin new capacities&newer programmes,in order to getlong term advantage As markets in North,West&Southare getting saturated,componentsmakers are now focusing onuntapped market like the Northeastregion of the country.Varroc Engineering,Indias secondlargest auto-componentsproducer,is aiming to attr

45、act business fromsales of electric vehiclecomponentssuch as electronics,motors andbattery managementsystem.Auto componentsGROWTH DRIVERSAuto components17GROWTH DRIVERSGROWTHDRIVERSSupply-side drivers Competitive advantages facilitatingemergence of outsourcing hub Technological shift;focus on R&DPoli

46、cy support Establishing special auto parks&virtualSEZs for auto components Lower excise duty on specific parts ofhybrid vehicles Policies such as Automotive MissionPlan 2016-26,Faster Adoption&Manufacturingof Electric HybridVehicles(FAME,April,2015),NMEM2020,likely to infuse growth in the autocompon

47、ent sector of the country.The governmentis going to come outwith a National AutomotivePolicy forboosting the growth of Indiasautomotivesector.In December 2018,the governmentnotified norms under which preferenceshall be providedby all governmentprocurement entities to indigenouslymanufactured auto co

48、mponents.Demand-side drivers Robust growth in domestic automotiveindustry Increasing investmentin roadinfrastructure Growth in the working population&middle class income to drive the marketNote:NMEM National Mission For Electric MobilitySource:Aranca Research2,90,73,8922,15,00,1652,06,47,6112,33,58,

49、0472,40,16,0682,53,29,38316.4413.8513.3813.6713.8011.7612.8912.9914.392018-192012-132013-142014-152015-162016-172017-182,87,35,269Auto components18GROWTH IN THE AUTOMOBILES SECTORVehicle production in India(thousand units)4,01089524,16910,0002,35030,231-5,00020,00015,00010,00035,00030,00025,000Passe

50、ngerVehiclesCommercialVehicles2&3 WheelersFY18FY21E-3,00,00,0002,50,00,0002,00,00,0001,50,00,0001,00,00,00050,00,000Vehicle Production(in number of units)3,50,00,000-4.002.006.0010.008.0014.0012.00Vehicles,vehicle parts and transport equipment loanoutstanding#(US$billion)18.0016.00FY11 FY12 FY13 FY1

51、4 FY15 FY16 FY17 FY18 FY19*Note:(E)Estimate;#Loan outstanding at the end of financial year,FY19*-up to June 2018,2018-19 -up to February 2019Source:ACMA,Reserve Bank of India,Aranca Research,SIAMAuto components19INDIA IS POISED TO EMERGE AS AN OUTSOURCINGHUBHyundai plans to source gasoline and diese

52、l engines from its Indian manufacturing operations for its domestic&global operations.The company is also planning to invest US$300 million for a new engine plant&metal pressing shop in India&is also inplans to open its 2nd manufacturingplant in Rajasthan.As of January 2018,the company is considerin

53、g adding a third production line with a capacity of 50,000 units a year at itsplant in Tamil Nadu.Ford expanded its retail distributionnetwork of genuine parts in Gujarat,Daman&Diu&Silvassa.Ford is currently working on a small capacity petrol engine called Dragon which is estimated to be ready by 20

54、16 17.TheDetroit based companyis planning to produce 1.5 millionunits a year globally,400,000 of which will be produced in India.In March 2018,Ford Motors signed five MoUs with Mahindra and Mahindra(M&M)to jointly develop new SUVs and smallelectric vehicle.The partnership will leverage Fords global

55、reach and expertise and M&Ms presence in the Indian market.The companyhas an export base for certain key engine components in India.As of April 2018,the company has decided to invest Rs 8 billion(US$124.13 million)in India to introduce new products in themarket and improve efficiency at its existing

56、 plants.The companyplans to launch a new model and upgrade 18 existing ones in 2018-19.Toyota Kirloskar Motor disclosed its fully integrated cloud based telematics service for Indian market,by the name ToyotaConnect.Toyota India under a new joint venture initiated productionof diesel engines at Jiga

57、ni Industrial Area.Source:Respective Company Websites,News ArticlesAuto components20FAVOURABLE POLICY MEASURES AIDING GROWTH Automaticapproval for 100 per cent foreign equity investment in auto component manufacturing facilities.Manufacturing&imports are exempt from licensing&approvals.Set up at a t

58、otal cost of US$388.5 million to enable the industry to adopt&implement global performancestandards.Focus on providinglow-cost manufacturing&product developmentsolutions.Created a US$200 million fund to modernise the auto components industry by providing an interest subsidyon loans&investmentin new

59、plants&equipment.Provided export benefits to intermediate suppliers of auto components against the Duty Free ReplenishmentCertificate(DFRC).AMP 2026 targets a 4-fold growth in the automobiles sector in India which includes the manufacturers ofautomobiles,auto components&tractor industry over the nex

60、t 10 years.It is expected to generate an additional employment of 65 million.The scheme is aimed at incentivising all vehicle segments i.e.2 Wheeler,3 Wheeler Auto,Passenger 4Wheeler Vehicle,Light Commercial Vehicles and Buses.It covers hybrid&electric technologies like MildHybrid,Strong Hybrid,Plug

61、 in Hybrid&Battery Electric Vehicles.The scheme has been extended for sixmonths from September 2018 to March 2019.The Government of India is in the process of coming up with FAME-II Scheme.In February 2019,the Government of India approved the FAME-II scheme with a fund requirement of Rs10,000 crore(

62、US$1.39 billion)for FY20-22.The Government of India reaffirms their commitment towards Electric Vehicles(EV)and their mission for 30per cent electric mobility by 2030 in order to overcome Indias reliance on imported fossil fuels and gas,andgreatly boost sustainable energy in India.The Department of

63、Revenue also eased the import duty on lithium-ioncells.Auto Policy 2002NATRiPDept.of Heavy Industries&Public EnterprisesAutomotive Mission Plan2016-26(AMP 2026)FAME SchemeUnion Budget201920Note:NATRiP-National Automotive Testing and R&D Infrastructure ProjectSource:SIAM,Make in IndiaFY15FY16FY12FY13

64、FY14FY17FY01-FY11FY18FY19*FY01-FY19*5.9320.85Auto components21INVESTMENTS HAVE BEEN RISING AT A FAST PACE FDI inflow in automotive*sector from April 2000 to December 2018stood at US$20.85 billion.With the launch of “Make in India”initiative,the government isexpected to vitalise a substantial investm

65、ent in the auto componentsector.The capital expenditure by the domestic automotive componentmanufacture is expected at around Rs 24,000 crore (US$33.26billion)over the FY19 and FY20.Indias Exide Industries formed a 75:25 joint venture with Leclanchto manufacture lithium-ion(Li-ion)cells,modules and

66、battery packsin the state of Gujarat,the Li-ion cell production plant is said to beoperational by mid-2020 As of January,2019 Lite Auto Components Pvt Ltd,a part ofHindustan Magnesium Products Pvt Ltd plans to invest Rs 500 crore(US$69.30 million)to set up Magnesium-based manufacturing plantin Andhra Pradesh.Dhoot Transmission,maker of auto components acquired SanElectromec,a wire harness and control panel maker for anundisclosed amount.Maruti Suzuki India Ltd to start a manufacturing batteries