India's automotive aftermarket shines at ACMA Automechanika 2024, eyes US$ 35 billion in exports

The event brought together the entire mobility ecosystem, showcasing the technological capabilities and innovations of the Indian automotive industry.

Autocar Pro News Desk By Autocar Pro News Desk calendar 04 Feb 2024 Views icon8448 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

The fifth edition of ACMA Automechanika 2024, held in collaboration with Messe Frankfurt and as part of Bharat Mobility Global Expo, concluded successfully, attracting 35,000 business visitors.

The event brought together the entire mobility ecosystem, showcasing the technological capabilities and innovations of the Indian automotive industry. Over 500 exhibitors from 12 global markets displayed more than 10,000 aftermarket products for two-wheelers, passenger vehicles, commercial vehicles, and agricultural vehicles.

According to the Global Automotive Aftermarket Research by ACMA and Ernst & Young, the Indian automotive aftermarket reached US$ 10 billion in CY 2023 and is expected to grow to US$ 14 billion by 2028.

The report identifies export opportunities exceeding US$ 35 billion across 10 major markets.

Shradha Suri Marwah, President, ACMA, and Managing Director, Subros Ltd; said, “As we stride towards Atmanirbhar Bharat, this event serves as a platform for showcasing India's immense growth potential in the global automotive landscape. The Global Automotive Aftermarket Research report also reinforces our belief in India's automotive prowess. ACMA remains committed to fostering this growth trajectory and contributing to India's leadership in the global auto aftermarket.”

Vinnie Mehta, Director General of ACMA commented "ACMA Automechanika 2024 has once again proven to be a resounding success, showcasing the vibrancy and potential of India's automotive aftermarket on a global stage. This event, held in conjunction with the Bharat Mobility Global Expo, exemplifies the comprehensive transformation underway in the automotive industry, evolving towards a mobility-centric ecosystem. As India emerges as the sweet spot in the global market, propelled by robust macroeconomic fundamentals, the success of our auto industry across various segments underscores the nation's automotive prowess. The auto component industry continues to thrive, reflecting the resilience and innovation within our ecosystem. ACMA remains steadfast in driving this momentum forward, fostering partnerships and paving the way for India's leadership in the global auto aftermarket."

The event served as a comprehensive platform, featuring over 1,500 product categories and 10 segments, for automotive wholesalers, distributors, and traders, fostering partnerships and contributing to India's leadership in the global auto aftermarket.

Photographs: Mayank Dhingra

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