'Auto parts aftermarket industry to touch Rs 37K cr by 2015'
Agencies: Chennai, Nov 17 2012, 02:17 IST
expected to move towards "consolidation" mainly driven by -- adoption of electronic controls to enhance fuel efficiency, adoption of power train technologies and use of vehicle electronic devices for safety and navigation.
The increasing demand for safety, navigation and multi- media features would help the vehicle electronics market grow at 22 per cent each year to reach USD 4.5 bn by 2016, the report said, adding that electronics would constitute 40 per cent of the vehicle cost by 2016.
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