* Acknowledgement: Data in this blog is predominantly pulled from publicly available information at IBEF and ACMA websites
Here are some interesting facts and projections on the Indian Auto Component Market:
- India is expected to become the 4th largest automobile producer globally by 2020 after China, US & Japan. The auto components industry is also expected to become the 3rd largest in the world by 2025
- The auto-components industry accounts for almost seven per cent of India’s Gross Domestic Product (GDP) and employs as many as 19 million people
- The growth of global OEM sourcing from India & the increased indigenisation of global OEMs is turning the country into a preferable designing and manufacturing base
- Over the last decade, the automotive components industry has registered a CAGR of 14 per cent and has scaled three times to US$ 39 billion in 2015-16 while exports have grown at a CAGR of 14 percent to US$ 10.8 billion.
Below are a few interesting charts related to market distribution and market growth:
This data points to robust demand, rising indigenization, export opportunities, competitive advantages, recent policy support and above all- a growing Automobile Industry. To add, the projection we see in the Indian auto component aftermarket is expected to grow at 10.5 per cent to touch US$ 13 billion by 2019-20, as compared to US$ 8.4 billion in 2016-17.
However, what’s all this data got to do with Robotics and Automation? In particular, what has Systemantics got to do with all this in the picture?
If this trend is to continue and accelerate, the industry needs to grow manufacturing capacity, improve efficiency, increase productivity and reduce cost, while maintaining consistently great quality. Rising labor costs, low skill levels and high employee turnover are constraints that companies face which prevent them from fully utilizing growth opportunities.
Flexible automation i.e. automation using robots is a way for companies to battle these headwinds and turn constraints to opportunities. Industrial Robots help improve productivity and efficiency, leading to greater production levels from existing plants and labor force while improving effectiveness of inspection leading to lower rejections at customer level. Use of robots will transform and strengthen India’s production capabilities and give a massive boost to the Make in India campaign.
We at Systemantics are on a mission to enable widespread adoption of industrial robots across shopfloors. With a mission of Sensible Robotics, our ASYSTR series of robots are easy to use and provide for shortened ROI timeframes, making them suitable for a wide range of applications. Our patented design innovations change the economic paradigm and simplify user experience.
You can reach us at firstname.lastname@example.org or call us at +91 9880056714 to understand our products or on industrial robotics.