Will the auto component industry’s revenue return to 2019 levels in FY22?

While demand from the conventional vehicle industry remained subdued, demand for electronics and electrical parts from the electric vehicle sector provided additional business.New Delhi: In the automotive value chain, the component makers are emerging as the dark horse. The segment seems to be on its way to achieving the previous peak revenue of the financial year 2018-19 in this financial year ending on March 31, 2022.India’s auto component Inc has mopped up revenue of USD 26.6 billion in the first half of the year with a rise of almost 67% compared to the same period in the previous year.

By the end of this fiscal year, if no major negative disruption erupts, auto component makers are most likely to reach closer to the peak business of USD 57.1 billion in the previous financial year. Auto Components Industry Performance in H1 FY 2022. The demand push from the after-sales service for the auto parts rose by 25% in H1.