Noida, India (PressExposure) November 06, 2009 -- Brazil represents one of the largest auto component industries in the world, with revenue touching over US$ 39 Billion in 2008. The industry has around 500 companies that employ above 207.5 Thousand people countrywide. The auto components industry has been showing an impressive growth for the past four years, attributed to the countryâs fast developing automobile market. Rapidly surging domestic demand and gradual technological developments will help the market to achieve 11% CAGR growth during 2010-2013, according to RNCOSâs new research report âBrazil Automobile Forecast to 2013â.
We have done quantitative as well as qualitative analysis of the Brazilian automobile industry and inferred that auto components form a major chunk of overall automobile industry revenue. Over the past few years, the country has become a production hub for global auto components manufactures due to its comparatively cost effective manpower availability and favourable geographical positioning (closer to the US, Mexico, EU) which makes exports much more lucrative.
We have also found that domestic demand contributed close to 67% of overall auto component industry revenue in 2008 and this is expected to grow rapidly in coming years in the backdrop of surging domestic automobile sales. Besides, the exports formed double digit share owing to increase in low cost auto components exports to Argentina, the US and Mexico. It is providing immense market exposure to domestic auto components manufacturers.
However, the auto component industry has been marginally affected by the global economic crisis in 2009, but a strong recovery is predicted for the first half of 2010 uplifted by ongoing investments plans of top global automobile manufacturers coupled with improving consumer confidence.
Our report âBrazil Automobile Forecast to 2013â provides detailed analysis of overall automobile market and its various segments, including passenger vehicle, commercial vehicle, utility vehicles, flex fuel vehicles, motorcycles and auto component. Each section explains the current and future market trends, along with developments in the Brazilian automobile market. The report has been formed considering the impact of global economic slowdown on the industry and thus facilitates an unbiased future outlook.
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