Overview:

• The auto-components industry includes frame, suspension system, axles, wheels, gearboxes and many more. The $46 billion (FY21) auto components industry in India is expected to grow to $200 billion by 2026. Indian auto component industry exports, which are currently valued at $13.3 billion in FY21, are expected to reach $80 billlion by 2026. A stable government framework, increased purchasing power, large domestic market, and an ever-increasing development in infrastructure have made India a favourable destination for investment.
• The USA, Germany, United Kingdom, Thailand, and Italy are the top destinations for exports of auto components.
  
• Automotive gearbox is a mechanical device created by automotive gearbox manufacturers for increasing thrust force or changing the motor speed. The crankshaft is attached to one end of the gearbox, which delivers a particular output speed and torque dictated by the gear ratio through the internal arrangement of gear in the gearbox. 
• An industrial gearbox is a type of enclosed system responsible for transmitting mechanical energy to designated units. In the process, gearboxes control rotation speed and torque. Unlike standard gearboxes, industrial models feature a longer lifespan and improved safety mechanisms.
• The Industrial Gearbox Market is expected to reach $38.10 billion by 2028, growing at a 4.5% CAGR during the forecasted period of FY21-28. In today's world, consumers preferances are inclined towards enhanced driving experience, smooth gear shifting and expectation of high performance which in turn will drive the demand for automative gearboxes.

Key Trends:

• The prices of the gearboxes are highly dependent on it's major raw material i.e. steel, so it becomes imperative for us to talk about the steel industry. India is the second largest producer of steel in the world after China. In the year 2021, India’s steel production stood at 104.91 MMT, out of which finished steel production was 96.20 MMT and consumption was 93.057 MMT. The Indian steel industry is affected by demand and supply of steel, shipping costs, exports and imports and thus directly affect the auto component industry.
  

Peers:  

• Leading players in the segment are B & R Machine and Gear, Bharat Gears, Gleason Plastic Gears, IMS Gear, Taiwan United Gear and Universal Auto Gears.