Outsourcing has become a popular global issue and the automotive manufacturing industry is now in line with this growing trend. With an increase in globalization, outsourcing is seen as an opportunity to tap the global market. India and China are regarded as a huge potential market due to their growth in infrastructure and easy availability of educated and trained labor.
In India and China, labor can be hired at very reasonable rates and these countries have become the global hub for automotive industry manufacturers.
Automotive manufacturers have opened their production plants in India and China and have transformed the market into a multibillion dollar one. Many of the big players have set up production base in either of these two countries to cut down costs and stay competitive even during economic downturn.
Some of the factors driving automotive manufacturing outsourcing such as easy availability of cheap labor, difference in the exchange rates of currencies, opening up of the Indian markets, and many more. However, there are some factors that may limit the market growth such as stringent government regulations in other countries, export import regulations and many more.
Some of the major players in this space are Michelin Group, Denso Corporation AGC Flat Glass, Autoliv Inc., BorgWarner Turbo Systems GmbH, Delphi Automotive LLP, Faurecia, Johnson Controls, Inc., Lear Corporation, Rane Group, Shriram Pistons, Amtek Group, BorgWarner Inc., Continental AG, Honeywell Turbo Technologies, KIRCHHOFF Automotive GmbH, Benteler International AG, Cummins Inc., Robert Bosch GmbH, Bharat Forge Limited, and Magna International Inc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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