OEMs is the Major Segment which accounted for more than Half of the demand for Drive and Timing Chains in India: Ken Research

Increasing automobile sales in India, Expanding Production Capacities of OEMs and Auto Chain manufacturers, Increasing Household Income and Short lifespan of Auto Chains were the key factors driving growth in India Auto Chain Market.

India is the second most populous country in the world but it is leading in terms of lack of automobile use. This has been a lucrative opportunity for automobile manufacturers which has resulted in enhancing their production capacities to meet the needs of untapped markets. Roller Chain Suppliers in India, Manufacturers Transmission Chain India The auto chain market is likely to have strong linkages with the automobile sales and as the automobile sales are poised to grow further, the auto chain sector is anticipated to witness a bright outlook in upcoming years. The primary growth drivers of auto chain market have been increasing household incomes, increasing automobile sales, expanding production capacities of OEMs and auto chain manufacturers and short lifespan of auto chains. Rising demand from OEMs and aftermarket growth owe to increasing market value of auto chains in India.

The automobile segment majorly comprises of passenger and commercial vehicles, two wheelers, three wheelers and other LCV, HCV and MUVs. The highest demand for auto chains is driven from two wheelers segment as in terms of production. Two wheelers contribute 78.6% to the overall Indian automobile market. This segment is the leader of the India auto chain market owing to preference of two wheelers in the country owing to their competitive price coupled with traffic congestion. The primary growth drivers of India drive and timing chain market are increasing preference of automotive chains over auto-belts, ‘Make in India’ initiative, high demand from OEMs and aftermarket, increasing automobile sales and very low market penetration of automobiles in India.  The Government of India is focusing a lot on ‘Make in India’ initiative to make India a global manufacturing hub which has aided multinational as well as domestic companies to manufacture within the country.
India is poised to be one of the fastest growing auto chain markets worldwide, thus catering to the needs of both global and domestic players such as OEMs and aftermarket.

The report titled “India Drive and Timing Chain Market Outlook to 2022 – OEM Demand is Expected to Flourish in the Outlook Period” by Ken Research suggested a growth at a CAGR of 12.5% in revenue in India Auto Chain Market in next 5 years till FY’2022.

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Increasing Market Penetration of Automobiles in India, ‘Make in India’ initiative and Increasing Investment in Automobile Industry will boost India Roller Chain Market: Ken Research

• India auto chain market value will escalate in the future owing to increasing automobile sales in the country. Innovation, technological advancement and low market penetration has resulted in increasing investment in India automobile industry.
• India auto chain market is majorly driven by high demand by OEMs and aftermarket. Indian Government introduced ‘Make in India’ initiative in 2014 which has brought ease for foreign players to manufacture auto chains and automobiles in India and sell at lower cost, avoiding excise duties and taxes.
• Auto chain companies’ focus on increasing their exports and enhancing production levels & production capacities would aid in sustaining growth of the market.

Indian market has huge potential for automobiles as there are only 20 passenger vehicles, 5 commercial vehicles and 108 two wheelers per 1,000 persons. Automobile companies are enhancing their product reach with a vision to capture untapped markets. TI Diamond Brand Sales in India Market report, Roller Chain Suppliers in India, Manufacturers
Transmission Chain India, Diamond Chain Market Share India,  Rombo Chain Manufacturer in India, Transmission drive chain SKF india, Renold  Transmission Chain Sales India, Timing Chain Market Trends, Roller Chains Sales in India Increasing market penetration of automobiles in India will positively affect the sales of automobiles and with rise in the sales and production of automobiles, the demand for auto chains in the market will rise exponentially. It has been anticipated that India will be the third largest manufacturing hub of automobiles by 2020 majorly owing to various Government initiatives, ease in Government policies, huge untapped markets, increasing manufacturing facilities of automobile manufacturers, increasing disposable income and enhancing production capacities. As the demand of auto chains is directly linked with the sales of automobiles, rise in revenues of auto chains is expected in future.
The Modi Government introduced ‘Make in India’ initiative on September 25^th, 2014. The primary goal of this initiative is to make India a global manufacturing hub, by encouraging both multinational as well as domestic companies to manufacture their products within the country. Make in India has introduced multiple new initiatives, promoting foreign direct investment, implementing intellectual property rights and developing the manufacturing sector. This initiative has aided the domestic as well as foreign manufacturing companies through its easy reforms and regulations to setup businesses in India. Many automobile manufacturers have entered the market since 2014 owing to ease of business.
Increasing two wheeler sales, rising demand of four wheeler and commercial vehicles, increasing proportion of used cars and rising exports value are some other key factors that may have positive impact on the market creating additional and replacement demand in the future, according to the Analyst at Ken Research.
Ken Research in its latest study, India Drive and Timing Chain Market Outlook to 2022, suggests that demand for auto chains in the market will continue to dominate in India owing to rising household income, easy interest rates, availability of cheaper automobile models and increasing awareness on using good quality chains. The export value will increase in future on account of cheaper products and increasing companies’ dealership network.
India drive and timing chain market is estimated to register a positive CAGR growth during FY’2017 – FY’2022. Increase in automobile sales in future and ‘Make in India’ are expected to be key drivers for spiked demand in India auto chain market. The report provides information on components of auto chains, market size by revenue, market segments by type of chains, by vehicle, by OEMs and aftermarket, by sectors and by market structure, value chain process for auto chains, trends and developments in the market, key issues and challenges in the market, norms and regulations for auto chains, trade scenarios in India, investment model for setting up auto chain manufacturing plant, porter’s five force analysis, future outlook and covering competitive landscape of major companies including L.G. Balakrishnan & Bros Limited, Tube Investment of India and Rockman Industries.
Topics Covered in the Report

• Rombo Chain Manufacturer in India
• Transmission drive chain SKF india
• Renold Transmission Chain Sales India
• TI Diamond Brand Sales in India,
• Roller Chain Suppliers in India,
• Manufacturers Transmission Chain india,
• Roller Chains Sales in India
• Roller Chain Suppliers in India,

For further reading click on the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-automotive-transmission-chain-market/126082-100.html
Related Reports by Ken Research
Case Study-Premium Car Exchange Market in India- Focus on Audi, BMW and Mercedes with Concentration on Marketing Initiatives
India Multi Brand Car Service Market Outlook to 2020 - Used Car Sales and Expansion of Service Network to Drive Future
India Used Two Wheeler Market Outlook to 2020 - Rising Sales through Online Channels and Potential Entry of OEMs to Foster Growth
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249