[color=hsl(0, 0%, 0%)]India’s automotive aftermarket is at a defining crossroads, one where technology, electrification, and consumer experience converge to reshape how we buy, service, and interact with vehicles. What was once a parts-and-repairs economy is rapidly evolving into a technology-driven, customer-centric ecosystem powered by PACE (Personalised, Autonomous, Connected, and Electrified parts and services.
[color=hsl(0, 0%, 0%)]An Industry of Scale and Resilience
[color=hsl(0, 0%, 0%)]According to the India Brand Equity Foundation (IBEF), India’s auto components industry, including the aftermarket, was valued at Rs 9.38 lakh crore in FY 2023-24, driven by rising vehicle population, aging fleet, and improved road connectivity. The aftermarket alone is estimated at around Rs 93,800 crore (US$11.3 billion) in 2024 as per GMI Research, reflecting the growing dependence on quality replacement parts and trusted service networks. India today has over 260 million two-wheelers and nearly 50 million cars on its roads, creating one of the largest active serviceable vehicle parcs globally.
[color=hsl(0, 0%, 0%)]The EV Aftermarket: The Next Growth Curve
[color=hsl(0, 0%, 0%)]The next big disruption in this landscape is the EV aftermarket. As per IMARC Group, the Indian EV aftermarket was valued at US $2.70 million (≈ Rs 22 crore) in 2024 and is projected to grow at a 20.6 per cent CAGR, reaching US $14.38 million (≈ Rs 119 crore) by 2033. This nascent segment includes new categories like battery diagnostics, thermal management systems, power electronics, regenerative braking parts, and charging accessories. As India crossed 2 million EV sales in FY 2024–25, the foundation for a full-fledged EV aftermarket has been laid.
[color=hsl(0, 0%, 0%)]PACE: The New DNA of the Aftermarket
[color=hsl(0, 0%, 0%)]1. Personalised: The aftermarket is becoming hyper-personalised through predictive analytics and digital profiles. Customer purchase and driving data now guide personalised maintenance reminders, targeted offers, and curated product recommendations.
[color=hsl(0, 0%, 0%)]2. Autonomous: With ADAS, sensor-driven safety systems, and self-diagnosing ECUs, vehicles can now “self-report” faults and order parts through integrated service networks. For the aftermarket, this means new software-plus-hardware sales opportunities.
[color=hsl(0, 0%, 0%)]3. Connected: Telematics, IoT devices, and vehicle-to-cloud interfaces are connecting customers, garages, and parts suppliers in real time. Connected diagnostics, remote updates, and predictive maintenance will redefine how workshops operate.
[color=hsl(0, 0%, 0%)]4. Electrified: EV penetration is transforming the part mix — from engine-centric spares to battery modules, converters, cooling systems, and smart lighting. Electrification will demand new capabilities in thermal management, insulation, and electronic safety systems.
[color=hsl(0, 0%, 0%)]Emerging Buzzwords and Strategic Imperatives
[color=hsl(0, 0%, 0%)]1. Digital Twin Workshops: Real-time virtual replicas of garages for inventory, service tracking, and technician support.
[color=hsl(0, 0%, 0%)]2. Circular Economy & Remanufacturing: Battery recycling, component refurbishing, and second-life markets will be critical sustainability levers.
[color=hsl(0, 0%, 0%)]3. Omnichannel Retail: Integrated digital + physical retail models where spares can be booked online, serviced offline, and tracked via app.
[color=hsl(0, 0%, 0%)]4. Data-Driven Loyalty: Aftermarket brands will build CRM ecosystems to convert one-time buyers into lifetime customers.
[color=hsl(0, 0%, 0%)]5. Skill 4.0: Upskilling technicians in EV systems, IoT diagnostics, and ADAS calibration will be the most vital investment for the decade ahead.
[color=hsl(0, 0%, 0%)]Conclusion: From Parts to Smart Mobility
[color=hsl(0, 0%, 0%)]India’s automotive aftermarket, already worth Rs 9.38 lakh crore, is not just about replacement; it’s about reinvention. The next decade belongs to players who embrace PACE, making products Personalised, Autonomous, Connected, and Electrified. As mobility becomes intelligent, the aftermarket becomes indispensable.
<hr>Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the publication.
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