Adoption of New Platform and Fuel Strategies by OEMs Expected to Disrupt the Indian Passenger Vehicle Market
“New product launches will be crucial to gain market space in the sub-compact, sports utility vehicle (SUV), compact and mini segments,” said Sistla Raghuvamsi, Research Analyst, Mobility Practice (Automotive & Transportation), Frost & Sullivan. “The savings achieved through platform modularity will enable car manufacturers to enhance vehicle features. This is expected to boost mild hybrid technology in the existing engine portfolios of OEMs.”
Vehicle Platforms and Fuel Strategies of Car Manufacturers in India, a recent research from Frost & Sullivan’s Mobility (Automotive & Transportation) Growth Partnership Service, provides a strategic overview of the powertrains and platforms in the Indian PV market with forecasts by platform, type of model, engine type, fuel type, and OEM until 2023. The insights include actionable recommendations to enter this segment and increase market size.
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“Quality control and part warranty issues, new technology localization, and cost optimization of hybrid technology will be significant challenges facing OEMs,” noted Raghuvamsi. “Manufacturers are expected to address these through advanced quality control systems and partnerships with Tier I companies to set up R&D centers and design various components and subsystems.”
The rapidly evolving market will offer opportunities to various stakeholders such as:
- Tier I companies: Collaborative R&D with Tier I companies will increase, which will help in developing modular systems, such as infotainment, instrument clusters and navigation systems, to cater to OEM requirements in various car segments.
- Skill development initiatives: Opportunity for car manufacturers to collaborate with governments and educational institutions to enhance the research and development capability.
- Engineering Service Companies: OEMs will seek third-party benchmarking to enhance regional modules in vehicles.
- Quality Control Equipment: Demand for advanced quality control technologies, such as artificial intelligence and machine learning, will boom.
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