In India, car accessories is a new concept which has gained popularity in recent times with growing usage of high end cars. The market can be divided into interior and exterior car accessories. In the Indian market, interior car accessories are more popular. The growing youth is providing a fillip to the market due to their perceptions and preferences. Although small cars are preferred by Indian consumers, the trend of using high-tech accessories in cars is growing rapidly. Organized players are also increasing their service offerings by opening more branded stores and making their products readily available. The overall sale of cars is also increasing in India which provides growth potential to players. Need for comfort is driving the market. Foreign players are also prevalent in the Indian market and with further proliferation of branded goods the market will experience strong growth.
The report begins with an introduction to the car accessories market in India with respect to types of accessories available. It highlights the parameters on which the accessories are differentiated in India. The market overview section provides an insight into the car accessories market and includes the market size and growth. The share of expenditure on the car vis-à-vis accessories is also highlighted. A description of the latest car accessories popular in India has been added.
An analysis of the drivers explains the factors for growth of the industry including development of automobile sector, used car market, favourable demographics, growing youth and increasing traffic problem. The key challenges include higher cost of accessories and competition from unorganized players.
The competition section provides an overview of the competitive landscape in the industry along with role of the organized and unorganized players in the market with respect to the channels adopted for sales. It includes a brief profile of the major domestic and foreign players in the market including their financials.
