The India vehicle scrapping market comprises vehicles that have lived beyond their economic life and constitute environmental and safety hazards. Vehicles once beyond repair or incur high maintenance costs are disposed to authorized scrapping facilities. The scrapping process involves dismantling vehicles and extracting reusable and recyclable components like engine, transmission, body panels, tires, batteries, and other materials. The extracted materials are further segregated and sent for recycling.
India Vehicle Scrapping Market is estimated to be valued at USD 8.9 Mn in 2024 and is expected to reach USD 38.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.
Key Takeaways Key players operating in the India vehicle scrapping market are Maruti Suzuki Toyotsu India (MSTI), CERO Recycling, Tata Motors Re.Wi.Re, Kaiho Sangyo Co. Ltd, Mjunction Services Ltd, Go Green ELV Handlers, Goodvalue Auto Scrap Pvt Ltd, Goenka Motors Pvt Ltd, KD Ecosystem, Mahindra MSTC Recycling Pvt Ltd, SRI NEELAYUM PRECOATED STEEL. The key opportunities in the market include generating revenue from resale of scrap metal and components. Technological advancements such as AI and IoT enabled intelligent dismantling process are being adopted to efficiently segregate reusable components during the scrapping process. Market drivers The mandatory India Vehicle Scrapping Market Growth policy by the India government requiring private vehicles to undergo fitness tests after 15-20 years and obtaining a scrapping certificate will be a key driver for the India vehicle scrapping market. Other drivers include increased vehicular pollution in major cities prompting authorities to scrap old cars, generating employment opportunities at authorized scrapping facilities, and boosting the secondary steel and components industry with raw material supply from recycled vehicles.
Current Challenges in India Vehicle Scrapping Market The major challenges in the India Vehicle Scrapping Market Size and Trends include lack of infrastructure for inspection and certification centres, absence of organized dismantlers and recyclers, lack of awareness about the scrapping policy among vehicle owners, and high costs associated with vehicle dismantling and recycling. Vehicles older than 15-20 years constitute a major chunk of the Indian automobile fleet. However, due to the unavailability of sufficient scrapping centres, dismantling units and materials recovery facilities, end-of-life vehicles are not scientifically dismantled and recycled. This has led to adverse environmental and safety issues. Additionally, there is a lack of awareness among vehicle owners about the economic and environmental benefits of scrapping old vehicles. Many owners hesitate to scrap vehicles due to the sentimental value attached and lack of monetary incentive. High operating costs also pose a challenge for scrapping units to generate sufficient profit margins. SWOT Analysis Strength: Growing environmental concerns and strict emission norms are raising awareness about scientific vehicle scrapping. Presence of large automobile manufacturers can facilitate development of scrapping infrastructure. Weakness: Absence of an organized scrapping ecosystem and uncertified dismantlers/ recyclers hamper quality standards. Lack of awareness and high costs pose demand-side challenges. Opportunity: Implementation of the national vehicle scrapping policy aims to address challenges and attract investments. Rising automobile sector and vehicle replacement cycle point to strong future prospects. Threats: Substandard scrapping practices can lead to environmental damage if not properly addressed. Economic slowdowns may negatively impact demand for scrapped vehicles. Geographical Regions The main regions in India where the vehicle scrapping market is currently concentrated in terms of value are Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Ahmedabad. These cities account for a major share of the country's automobile fleet due to high vehicle density and presence of important automobile manufacturing bases. Northern states like Haryana and Uttar Pradesh that are in close proximity to Delhi also witness significant vehicle scrapping activities currently. Fastest Growing Regions The fastest growing regions for India's vehicle scrapping market over the forecast period are expected to be Tier II and Tier III cities in Southern, Western and Central parts of the country. As awareness increases regarding scrapping benefits and process due to policy implementation, regions outside major urban centers will show higher growth rates. Cities in states like Telangana, Andhra Pradesh, Maharashtra, Madhya Pradesh, Gujarat, Chhattisgarh and Odisha are well-positioned to witness maximum expansion.
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