India’s automobile and accessories sector is one of the most prominent industries in the country, with a vast and rapidly growing market for vehicles, parts, and accessories. This sector includes a diverse range of vehicles, from two-wheelers to passenger cars and commercial vehicles, alongside the growing demand for vehicle accessories that enhance functionality and aesthetics. The rise of electric vehicles (EVs) and the growing trend of vehicle customisation are key trends reshaping the market.

The Indian automobile market is experiencing significant growth, driven by factors such as increasing urbanisation, rising disposable incomes, and improving infrastructure. The adoption of EVs is expected to accelerate further, with government incentives and initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme encouraging manufacturers and consumers to embrace cleaner alternatives.

Investor interest in the sector remains strong, with substantial funding going into EV startups, vehicle component suppliers, and accessory manufacturers. Startups are leveraging technology to optimise vehicle performance, enhance the driving experience, and create new business models for both OEMs and aftermarket services.

Key players in the sector include:

Tata Motors: A leading automobile manufacturer, known for its diverse range of passenger and commercial vehicles, and a strong push towards electric mobility with the Tata Nexon EV.
Hero MotoCorp: A dominant player in the two-wheeler segment, with a strong market presence and focus on innovation in electric motorcycles.
Ather Energy: A fast-growing electric vehicle manufacturer, known for its high-performance electric scooters and smart technology features.
As the sector embraces electric mobility, sustainability, and digitalisation, India’s automobile and accessories market is poised for continued transformation and growth.

Automobile & accessories