Market Research Report : Car Accessories Market in India 2011

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Car Accessories – India January 2011

description

For the complete report, get in touch with us at : [email protected] 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.

Transcript of Market Research Report : Car Accessories Market in India 2011

Page 1: Market Research Report : Car Accessories Market in India 2011

Car Accessories – India

January 2011

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SAMPLE

Executive Summary

Market

Issues & Challenges

Competition

Car accessories market is expected to grow as the younger generation is looking to convert their cars into an entertainment zone

It has been expected that car accessories market will reach INR X bn by 2014 growing at a CAGR of Z%

– Accessories for luxury car segment alone accounts for INR X – Y bn in 2010 Latest car accessories like Product 1, 2, 3, 4 and 5 are becoming the need of the hour for latest

models

Drivers– Favourable Demographics – Development of Automobile Sector– Used Car Market – Growing Youth– Increasing Traffic Problem

Major Domestic Players Major Foreign Players

Company 1 Company 2 Company 5 Company 6

Company 3 Company 4 Company 7 Company 8

Challenges – Higher Cost of Accessories – Competition from Unorganized Players

Car accessories market is dominated by a large number of X players Accessories market also includes retail chains which is a one stop shop where customer can get

all the domestic as well as foreign brands

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•Market Introduction •Market Overview•Drivers and Challenges •Competition

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SAMPLE

Younger generation looking to convert their cars into an entertainment zone will develop the market

• Car accessories market is expected to grow as younger generation is looking to convert their cars into an entertainment zone

Demand is not just for Product 1 but also for product 2, 3, 4 and 5

• Development of the car accessories market has also shattered the old perception that expensive cars are better

With good accessories, even low cost cars can be compared with relatively costlier ones

• It has been estimated that entertainment accessories, such as product 1, 2, 3, 4 accounts for a major share of the car accessories market

Product 1 are an essential accessory for any car Besides entertainment accessories, product 2, and 3 is also

in huge demand

• It has been estimated that accessories for luxury car segment alone accounts for INR X – Y bn of the market in 2010

Car Accessories – Overview

Source:

Market Size and Growth

Share of Expenditure on Accessories

INR bn

d

c

b

a

0

Z%

2014e

t

2013e

s

2012e

r

2011e

q

2010

p

S1%

S2%

Segment 1

Segment 2

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Drivers & Challenges – Summary

Drivers

Development of Automobile Sector

Used Car Market

Favourable Demographics

Growing Youth

Increasing Traffic Problem

Challenges

Higher Cost of Accessories

Competition from Unorganized Players

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SAMPLE

Customer will have more bargaining power as competition between X and Y players increases

• Car accessories market is expected to face stiff competition due to the X and Y players vying for a larger market share. This leaves much of the bargaining power in the hands of customers

• Car accessories can be bought from various channels such as X and Y players X players sells good quality branded product with service warranty mainly sourced form local markets or through imports Accessories market is dominated by Y players offering low price product and the product is generally sourced either through import or

from small scale domestic manufacturers – Market constitutes of product X manufactured from locally assembled parts, catering mainly to price conscious customers

• To overcome the competition, X players have also diversified its range of products so as to provide complete solution to the car owners

Car manufacturers are now using accessories to differentiate their cars from competitors– Players such as Company 1 have started selling branded accessories through its selected outlets

Competition – Overview

Y Players

Segment 3

Segment 4

Type 1

Type 2

Type 3

Segment 2

Roles are interchangeable leading to much of

concentration of bargaining power in the hands of type 2

and 3

Source:

X Players

Segment 1

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SAMPLE

Domestic Players in the Market (1/6)

Corporate Information Business Highlights

Headquarters State 1

Founded NA

Products Product X

Key People Mr. X – Promoter

Company Snapshot: Company 1

• It has car accessories stores spread over X sq ft with Z varieties of car accessories

• Company 1 is a project of Company X which is a conglomerate of Group Y and Z

• It sells products of brand such as Brand 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11

Corporate Information Business Highlights

Headquarters State 2

Founded XX

Products Product X

Key People Mr. X – President

Company Snapshot: Company 2

• Company 1 is a organized retail chain offering a complete range of car accessories

It’s a part of Group X which is a part of the Group Z • Customer can choose from X products from Y leading

brands for car• The company is expected to open Z outlets in metro

in next X years

Source:

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