Market Research Report : Car Accessories Market in India 2011
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Transcript of Market Research Report : Car Accessories Market in India 2011
Car Accessories – India
January 2011
2CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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
3CAR ACCESSORIES MARKET IN INDIA 2011.PPT
•Market Introduction •Market Overview•Drivers and Challenges •Competition
4CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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
5CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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
6CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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
7CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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:
8CAR ACCESSORIES MARKET IN INDIA 2011.PPT
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The Car Accessories Market - India report is a part of Research on India’s Automobile Industry Series.For more detailed information or customized research requirements please contact:
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