| Product Code: ETC291324 | Publication Date: Aug 2022 | Product Type: Market Research Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India engine blocks market import shipments showcased a robust CAGR from 2020 to 2024. However, the growth rate dipped notably between 2023 and 2024. Overall, the market demonstrated expansion with a slight slowdown in momentum towards the end of the period.
The engine blocks market in India is experiencing growth due to the expanding automotive and manufacturing sectors. Engine blocks form the foundation of internal combustion engines and are in high demand as vehicle production increases. Additionally, the government`s emphasis on promoting electric vehicles presents opportunities for engine block manufacturers to innovate and adapt to changing trends.
The engine blocks market in India is witnessing substantial growth, primarily due to several key drivers that are propelling its expansion. Firstly, the automotive industry in India is experiencing significant growth, driven by rising consumer demand, increasing disposable income, and government initiatives to boost manufacturing and exports. Engine blocks are a crucial component of internal combustion engines used in various vehicles, including cars, motorcycles, and commercial vehicles, and the growth in vehicle production is directly impacting the demand for engine blocks. Secondly, the emphasis on reducing vehicle emissions and improving fuel efficiency has led to the adoption of lightweight materials for engine blocks, such as aluminum and compact graphite iron, which offer higher strength-to-weight ratios and better heat dissipation properties. Moreover, the growing trend of electric vehicles (EVs) is creating opportunities for engine block manufacturers to develop lightweight and efficient components for hybrid vehicles and range-extender engines. Furthermore, India increasing focus on indigenization and the government`s "Make in India" campaign are encouraging automobile manufacturers to source engine blocks domestically, boosting the market for local suppliers. These factors, combined with technological advancements in engine block manufacturing processes, are expected to drive the engine blocks market`s growth in India.
One of the primary challenges in the India engine blocks market is the rising demand for electric vehicles (EVs). As the automotive industry shifts towards EVs, the demand for traditional internal combustion engine blocks may decrease, affecting the market for engine block manufacturers. This shift presents an opportunity for companies to diversify into manufacturing components for electric vehicles. However, it also requires significant investments in research and development to adapt to new technologies and materials.
The engine blocks market in India faced challenges during the COVID-19 pandemic due to disruptions in the automotive supply chain and manufacturing activities. With vehicle production and sales declining during lockdowns, the demand for engine blocks also experienced a setback. However, with the automotive industry`s recovery and the focus on electric vehicles and sustainable mobility, the market is projected to rebound.
As the automotive industry continues to evolve, the engine blocks market in India is projected to grow. Key players in this market include Mahindra & Mahindra Ltd., Tata Motors Limited, Maruti Suzuki India Ltd., and Hyundai Motor India Ltd.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Engine Blocks Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Engine Blocks Market Revenues & Volume, 2021 & 2031F |
3.3 India Engine Blocks Market - Industry Life Cycle |
3.4 India Engine Blocks Market - Porter's Five Forces |
3.5 India Engine Blocks Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 India Engine Blocks Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Engine Blocks Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for automobiles in India |
4.2.2 Growth in the manufacturing sector leading to higher demand for engine blocks |
4.2.3 Technological advancements and innovations in engine block materials and manufacturing processes |
4.3 Market Restraints |
4.3.1 Fluctuating raw material prices impacting production costs |
4.3.2 Stringent emission regulations requiring engine blocks to meet certain standards |
4.3.3 Intense competition from imported engine blocks |
5 India Engine Blocks Market Trends |
6 India Engine Blocks Market, By Types |
6.1 India Engine Blocks Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 India Engine Blocks Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 India Engine Blocks Market Revenues & Volume, By V Engine, 2021-2031F |
6.1.4 India Engine Blocks Market Revenues & Volume, By Inline Engine, 2021-2031F |
6.1.5 India Engine Blocks Market Revenues & Volume, By Boxer Engine, 2021-2031F |
6.2 India Engine Blocks Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Engine Blocks Market Revenues & Volume, By Passenger Vehicles, 2021-2031F |
6.2.3 India Engine Blocks Market Revenues & Volume, By Trucks, 2021-2031F |
6.2.4 India Engine Blocks Market Revenues & Volume, By Racing Cars, 2021-2031F |
6.2.5 India Engine Blocks Market Revenues & Volume, By Others, 2021-2031F |
7 India Engine Blocks Market Import-Export Trade Statistics |
7.1 India Engine Blocks Market Export to Major Countries |
7.2 India Engine Blocks Market Imports from Major Countries |
8 India Engine Blocks Market Key Performance Indicators |
8.1 Average selling price of engine blocks |
8.2 Adoption rate of lightweight engine block materials |
8.3 Number of patents filed for engine block innovations |
8.4 Percentage of engine blocks meeting emission standards |
8.5 Growth in demand for engine blocks in key industries such as automotive, aerospace, and marine industries |
9 India Engine Blocks Market - Opportunity Assessment |
9.1 India Engine Blocks Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 India Engine Blocks Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Engine Blocks Market - Competitive Landscape |
10.1 India Engine Blocks Market Revenue Share, By Companies, 2024 |
10.2 India Engine Blocks Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |