Manufacturing companies such as Rane Engine Valve Limited, Shriram Pistons and others operating in the organized sector are ISO 9000, ISO 14001 and TS 16949 certified, thus maintaining good quality standards and following Just in Times (JIT) approach to successfully supply the final product to OEMs in India engine valves and parts market.
The report titled “India Engine Valves and Parts Market Outlook to 2022 – Organized Sector will Continue to Penetrate the Market in the Future” by Ken Research suggested a five year positive CAGR of 2.7% in revenue of total engine valves and parts in India for the projected period FY’2018-FY’2022.
India is poised to be one of the fastest growing engine valves and parts markets worldwide, thus catering to the needs of both global and domestic players such as OEMs and aftermarket. Substantial investments was proposed in automotives, sector in the 12th five year plan (FY’2012-FY’2017) and was one of the major driving forces responsible for growth of engine valves and parts market in India.
OEM user segment is one of the major consumers of engine valves and parts and dominates the sales of engine valves and parts with revenue share of 70.0% in FY’2017. The automotive segment majorly comprises of passenger and commercial vehicles, two wheelers, three wheelers and other LCV, HCV and MUVs. In the recent decade, the government of India took various initiatives and launched programmes to improve the automotive segment and to ensure that its economy continues to grow. The second hand vehicle market or the used car segment has became organized with the entry of several OEMs such as Maruti Suzuki, Ford India and Mahindra & Mahindra with Maruti Suzuki leading India’s pre-owned car business and contributing towards high share of organized sector.
India is gaining traction in terms of quality of valve manufacturing with the production of titanium valves in India engine valve market. Titanium offers the highest strength-to-weight ratio of any known metal. Moreover, rising demand of engine valves for CNG based vehicles because of increasing availability of natural gas in India.
Around 85.0% of the demand of engine valves and parts is fully met, while the left 15.0% is imported in India. In India, spark ignition engine valves, inlets and exhaust make up 61.3% of total imports and compression engine valves, inlets and exhaust accounted for remaining 38.7% of total imports for the year ending FY’2016.
Key Topics Covered in the Report
Industrial Valve Market in India
India Engine Valve Manufacturers
Tappet Engine Valve Component
Automotive Valves Market Trends
Valve Guides and Tappets Manufacturers India
Auto Parts Industry in India
Auto Components Market in India
To know more about the research report:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications