The Market Research Agencies in India states that the piston and piston ring market has been one of the fastest increasing auto component segments attaining its success commonly to the automobile segment and requirement for the wider powered engines. The effective rise in the advancement in the infrastructure, an increasing domestic market for the automobiles backed by the fresh model establishes, growing purchasing power and alleviating the government framework will draw in foremost investments both internally and internationally. Furthermore, the Research Agencies in India states that India is poised to become a leading export pivot for the motorcycles in the near years and is presently located as the third largest exporter of two wheelers across the globe. In addition, the export market for piston and piston ring producers is still an underpenetrated sector and is still comparatively small with great growth predictions in the future owing to the relaxation on laws of doing business in India, a buoyant end-user market, and reappearance of adequate liquescence in the financial system.
Although, the organized players attain the whole OEM market engaging special emphasis on continuing the great quality standards for its products as well as commissioning the modern technology in the production progression for piston and piston rings.
Nevertheless, the Market Research Agencies in India also forecast that the Light and heavy duty commercial vehicles registered for the principal market share in terms of revenue in the recent past years. Moderately higher cost and dumpier service life resulted in the high sales of fuel injection systems in this sector. Great number of the commercial vehicles functioning in the region coupled with wide replacement requirement resulted in high sales of fuel injection systems for light and heavy commercial vehicles during the recent past years. All four wheelers in the present trend are well-appointed with the port or direct fuel injection systems. Due to the extraordinary sales of the four wheeler passenger cars in the region, fuel injection systems predestined for the four wheelers registered for a substantial market share in terms of revenue in FY’2017. Two wheelers and several other vehicle sectors encompassed for the rest of the market share.
The market for fuel injection systems in India is predictable to be determined majorly by the intensification in production and sale of automobiles counting two wheelers, four wheelers, light and heavy commercial vehicles attached with the replacement requirement of the carburetors and fuel injection systems to observe with severer regulatory standards in the next five years. Moreover, the exports have been on an expanding curve due to the corporates manufacturing injection systems in India for better regions of scale. As a result, the export of the fuel injection system is anticipated to pursue to gradient at least in the short-midterm and encouragement in the growth of automotive fuel injection systems market in India. Therefore, along the handsome amount of investment by the Market Research Agencies in India for doing proficient research programs it is predicted that the markets across India will increase more positively over the coming years.
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Ankur Gupta, Head Marketing & Communications