The Automotive Component Manufacturers Association of India (ACMA) revealed a robust 11.3 percent growth in India’s auto component industry for the first half of fiscal 2024-25, with turnover reaching INR 3,320 billion from April to September 2024.

ACMA Director General Vinnie Mehta highlighted the sector's resilience, supported by steady vehicle sales and exports. Domestic supplies to OEMs rose 11.2 percent to INR 2,830 billion, while exports expanded 7 percent to INR 933 billion, maintaining a USD 150 million trade surplus. Imports grew 4 percent to INR 920.5 billion. The aftermarket also recorded a 5 percent increase, reaching INR 474.16 crore.

“Despite global headwinds, the industry’s performance underscores its adaptability and strong fundamentals,” Mehta remarked.

ACMA President Shradha Suri Marwah noted the return of vehicle sales to pre-pandemic levels. “While two-wheeler sales surged, passenger and commercial vehicle sales remained moderate. Export challenges including rising freight costs, posed hurdles, yet the industry displayed resilience, maintaining stable value growth,” she stated.

Marwah emphasised ongoing investments in technology upgrades, localisation and higher value-added components to meet evolving market demands.

Officials also noted that North America and Europe each accounted for 31 percent of total exports. North America grew 8.3 percent, while Europe held steady. Asia, representing 22 percent, saw a 10 percent uptick.

Asia dominated with 65 percent of imports, followed by Europe (27 percent) and North America (7 percent). Imports from Asia rose 5.5 percent, while those from Europe increased 3.2 percent. North American imports declined by 8.3 percent.

The aftermarket’s 5 percent growth reflects the sector's evolution, driven by the rising penetration of e-commerce and growing demand in rural areas. The trend indicates a gradual shift towards an organised market structure.

ACMA’s review reinforces the auto component sector’s vital role in India’s economy, with strong growth prospects driven by strategic investments and market resilience.

Elaborating on the mood of the industry and outlook for the near to mid-term future, Marwah mentioned, “The festive season brought significant sales across most segments of the vehicle industry. However, reflecting on the past eight months of this fiscal year, while two-wheelers have shown promising growth, sales of passenger vehicles (PVs) and commercial vehicles (CVs) has been relatively moderate. On exports front, with geological challenges, delivery time and freight costs have once again gone up. That said, in value terms, the industry remains in robust health, signalling stability and resilience amidst evolving market dynamics. The components industry continues to make investments for purposes of higher value-addition, technology upgradation and localisation to stay relevant to both domestic and international customers.”

Tier 1 supplier Jay Bharat Maruti (JBML) has announced it has further acquired 10 percent stake from its joint venture partner Ogihara Thailand Co.

The move will see JBM hike its stake from 39 percent to 49 percent in JBM Ogihara Die-Tech (JODT), which is a key supplier of press stamping dies, especially for high-tensile and critical Body In White (BIW) dies.

In FY2024, the company reported a turnover of INR 489.65 million.

At present, JODT is a key supplier for high-tensile and critical BIW dies to JBM. The technology was adopted as part of its association with Ogihara, and the move to hike its stake in the JV will further enhance JBM’s supply to Maruti Suzuki India, a leading passenger vehicle manufacturer in the country and a key client for the brand.

Furthermore, JBM has announced that its technology agreement with OTC and its name in the company will continue for almost two years.

German mechatronics specialist Marquardt has inaugurated its new plant in Talegaon in Pune, Maharashtra, which replaces its existing production facility near Mumbai.

The new facility is equipped with in-house electronics production and logistics to support Marquardt’s customers for complete mechatronic solutions, including drive authorisation systems, gear selector switches and battery management systems (BMS) for electric vehicles.

With a total investment of INR 1.8 billion towards the new plant, the facility will improve supply chain, response time for its customers. The company expects to create 500 new jobs in the next five years.

Bjorn Twiehaus, Chief Executive Officer, Marquardt Group, said, “India is an important growth market for Marquardt with great potential. We work closely with leading vehicle manufacturers here and utilise the innovative strength and expertise of our Indian team. With the opening of the plant in Talegaon, we are continuing our success story in India and strengthening our position as a leading supplier of mechatronic systems for the mobility of the future."

Vishal Narvekar, General Manager, Marquardt India, added, "The inauguration of our new facility in Talegaon marks a significant milestone for Marquardt in India. Our strong and long-standing relationships with customers in the Indian automotive industry have been instrumental in our growth. With this expansion, we reaffirm our commitment to delivering world-class mechatronic solutions tailored to the needs of our local partners. Additionally, this facility underscores our contribution to the 'Make in India' initiative by enhancing local production, fostering innovation, and creating new employment opportunities."

The new facility will complement and work in sync with the company’s development centre which has already been active for the last decade. With around 450 employees the development centre supports Marquadt’s domestic & global customers, and is a key part of the company’s innovation network.

Dr. Harald Marquardt, Shareholder and Board Member, Marquadt, added, "Our team in India is a cornerstone of our global success. The high level of innovation, efficiency and commitment of our Indian experts are groundbreaking. With this new plant, we are underlining our long-term commitment to our customers in India and worldwide."

Swedish industrial bearings major SKF is revamping its brand identity, which it said is to help the group to further stand out in the industry, attract new customers and ultimately drive profitability.

The over a century old bearings company is amongst the top players globally when it comes to being a closed partner for industrial and mobility solutions.Rickard Gustafson, President and CEO, SKF, said, “Our brand is the accumulation of everything we do – innovations, values, people, reputation, communication and our desired future state. From a business perspective, we are building favourability among current and potential customers, employees, investors, partners, and beyond. It is a way of earning our place in the world while staying true to our values and purpose.”

The refresh brand strategy aims to reflect upon SKF’s historical, current and future strengths. The idea is to clearly communicate its impact on the world and public perception towards its innovative and sustainable solutions.

Per Nilsson, Director Communication, SKF, said, "Only a few companies in the world can reduce friction like SKF. Wherever there is rotation, we show up – from bicycles to high-speed trains, from paper mills to washing machines. A fantastic position to have, but also an inspiring story still to be told. We have been fighting friction since 1907 and today it is more relevant than ever before.”

The refreshed brand identity includes a redesigned logo, a fresher blue, a new typeface and more distinctive photography.

Going forward, the company will roll out the brand identity across its marketing communication along with working with its distribution partner.

“Through almost 120 years of innovation, we’ve developed products and solutions that reduce friction. Now we’re stepping that up. Not just reducing friction but actively fighting friction to move the world forward and telling the story about the difference we make,” concluded Gustafson.

MSL (Mobility Solutions), a part of JCBL Group, has expanded its manufacturing facility in Batauli, Punjab.

The move will see the company expand its advanced product offerings for the automotive, railway, defense and other sectors. The company has now extended its product offering beyond Glass-Reinforced Plastic (GRP) at the 41,700 sqmt facility, which covers 12,000 sqmt.

The commercial production, which commenced in December 2024, will see the company now provide various advanced composites solutions for its clients with full operational capacity slated to be achieved by July 2025.

In addition to the expansion, the company also plans to establish a Centre of Excellence (CoE), which will integrate R&D, tooling, prototyping, manufacturing and testing under one roof. It will also focus on developing new, durable lightweight composite solutions.

MSL shared that it chose Batauli for its strategic proximity to JCBL Group’s other manufacturing hubs, availability of skilled labour and efficient access to transportation networks.

R G Arora, Managing Director, Mobility Solutions, said, "This expansion is a big shift for MSL, taking a significant leap forward in delivering cutting-edge composite solutions for high-tech products across industries. This facility not only enhances our manufacturing capabilities but also reflects our unwavering commitment to innovation, sustainability, and contributing to the economic growth of the region."