Automotive component manufacturing is closing in on a new epoch, becoming robust and technologically disruptive by the day. With the rapid permeation of electrification in the automotive components ecosystem, vehicle design and development is witnessing a paradigm shift from being oil-driven to cobalt- or lithium-based. The rising supremacy of connected and autonomous vehicles, coupled with the surging occupancy of tech companies in the automotive sector has provided further impetus to structured innovation in the manufacturing of automotive components. China continues to observe numerous benefits, as the country’s supremacy in the electric vehicles category remains incontestable. Venturing overseas to offset sales fatigue in the local market is becoming the new area of focus for automotive component manufacturers in China. On the other hand, India is likely to become the nesting place for various automotive component manufacturing companies, as the subcontinent boasts of the world’s youngest population. This further amplifies India’s robust potential of becoming the fastest growing marketplace for automotive components in the coming years. Larger automotive component manufacturers are leveraging their technological capabilities for achieving better utilization of material resources; whereas, small- and medium-sized enterprises are introducing innovative, cost-effective, and simpler solutions for improving material yield and reducing wastage. With several notable trends dotting the automotive landscape, it is imperative that manufacturers of automotive components stay on top of current happenings in the global market, to innovate with precision and gain a competitive edge. Fact.MR offers automotive component suppliers and OEMs with useful market data and forecasts, to enable them to acquire pertinent insights on competition moves in the market.
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