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According to Allied Market Research, the global automotive brake system market size is projected to reach $38.48 billion by 2026, registering a CAGR of 7.5 percent from 2019 to 2026. The growth that has been registered is influenced by a number of factors. Technological advancements and integration of advanced safety features in vehicles have hugely contributed to the growth in demand for automotive brake systems and parts. However, this industry is very much fragmented in India.
On one hand, there are the OEMs and there are aftermarket manufacturers on the other. The problem with original spare parts has always been the deficit in supply despite intense demand. This problem exists in the aftermarket sector also but very much less compared to the OEM market. This is where Autocraft Brake Systems from Faridabad, (Hariyana) comes into the picture as an aftermarket manufacturer and exporter of premium automotive brake systems and parts.
When it comes to aftermarket manufacturing, Autocraft Brake Systems has emerged as a winner since its inception. The company manufactures and sells authentic and premium quality brakes systems that are dedicated to different vehicle brands across the globe. “We manufacture and sell each and every product with our own branding in the market. It is one of the core differentiating factors that makes us stand apart in the market. The demand for spare parts is always high.
The demand for the spare parts of a vehicle that has been discontinued years ago still exists in the market. We have always wanted to tap into this kind of demand”, says Narinder Bhatia, Founder, Autocraft Brake Systems. The company has its own design, manufacture, export and supply units which make it transparent to maintain the quality of the products. All the brakes are very meticulously designed by the experienced team of the company that is best suited for the vehicle and increases its working life.
Operational Excellence
Autocraft differentiates itself on two factors that are also the primary expectations of clients in the industry, quality and trust. The company understands that there is immense demand for the product all across the country and at the same time, there is deficiency in the final product as well.
And this deficit ultimately harms the longevity of the vehicle that the component gets fitted in. This is why the company has taken care of each and every detail of the whole process. In order to make a name of its own, the company has designed its state of the art manufacturing unit that provides
ease of production. Added to this, it has its own quality assurance unit and administrative unit that look after the quality of the end product that gets delivered.
Though being an independent manufacturer, the company caters to all the aspects of the business that can be conducted in this domain. Autocraft not only has presence in the retail market, but also manufactures brakes under its own branding. “Quality is the only factor that has kept us going through the years, we have really strong vendor relations that directly help in the better R&D of our products. Garages in the retail market generate varied demand in material.
This gives us the opportunity and tap into this demand that seems to be never ending. And with this opportunity, there is direct feedback of the product that can be achieved. One will be shocked to know that there is still demand for the spare parts of Bajaj Chetak that has been discontinued many years ago. It is because people are still using that vehicle and is in need of the spare parts for the same from time to time”, mentions Narinder.
The company understands that trust can only be earned when a client has complete trust on not only the quality of material but also timely delivery. Initially, Autocraft was only into buying and supplying of products and had gained considerable name as a distributor. But slowly, the founder understood that there is deficit in the quality of the products most of the time. Added to this there is always scarcity for original equipment in the market which calls for such aftermarket manufacturers who can not only cope up to the demand, but also maintain premium quality in components. After several years of conducting business in this sector and having done extended research, Autocraft started manufacturing on its own from 2006. Since then, it has always kept up to the quality of the material and tried to cater to as much demand as it can cater to in the market.
Autocraft is also very consistent about the pricing of its products. The company is very customer centric when it comes to the cost of a product. “We keep the customer informed about the changes in pricing at all times. Customer involvement in fixing up the price of a product ensures further trust in transactions. I remember, during lockdown all the manufacturers were asking for a higher price for Aluminium that had caused widespread disturbance in the market. We have never done anything like that as a manufacturer and supplier. We have always kept our rates fixed and our clients informed that has acted as a game changer for the growth of the company”, states the founder.
Looking At The Future
Most successful businesses have very humble beginnings and Autocraft Brake Systems is no exception. The company started operation in 1988 and has grown slowly and steadily with deep understanding of the market. The founder states that the business faced many hardships but he never gave up on becoming successful. That is the reason why the company can call itself a premium brake manufacturer that doesn’t only cater to the local demand but also exports a gamut of brake systems to various nations across the globe.
Autocraft brake systems has emerged as a winner since its inception.the company manufactures and sells authentic and premium quality brakes systems that are dedicated to different vehicle brands across the globe
It takes time in taking up a project and sometimes it can take up to six months for a deal to be signed which happens only after proper sampling of product by the client. Last but not the least, the company’s excellence quality assurance team conduct several tests before the delivery of any product that include torque test, laboratory & field testing, friction test in wet & dry condition, virtual testing and hardness testing.
With direct vendor relationships and premium quality manufacturing, the company plans to gain more grounds in the automotive brake systems market in the times to come. Speaking about the future plans of the company, Narinder concludes, “We plan to gain more business through customer satisfaction, our commitment to which will be forever unchanged. Added to that, with our exposure to international business, we also expect to add more bulk consignments to our bucket.”
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