SKF India has three manufacturing facilities in Pune serving the automotive and industrial electrical industry, Bangalore for the automotive and industrial industries and for Hariwar.

Mumbai: Swedish auto parts maker SKF India expects to gain a “significantly higher” share of the industry it serves, regardless of industry growth rates during the demand recovery. Sales in the ninth quarter of the current fiscal stood at ₹650.2 crore, down 23.16% from the July-September month of 2019-20, and it said that demand during the festive season (so far) has been good, especially in the automotive sector.

SKF India has three manufacturing plants in Pune serving the automotive and industrial electrical sectors: automotive and industrial in Bengaluru and Hariwar.

The industrial sector accounts for 55% of SKF India’s overall business, with the remaining 45% coming from the automotive sector.

“Whatever the industry is doing, whether it is doing well or slowly, we are focused on increasing our share. We expect SKF to gain share much higher than the growth rate (of the industry),” said Manish Bhatnagar. Managing Director, SKF India, said during the interaction.

He added, “In the automotive sector, we expect to gain market share in two-wheelers and tractors, while in the industrial sector, we expect to gain market share in all segments.”

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He said, “Infrastructure related sectors such as steel, cement, construction equipment, textiles, food and beverages and other sectors related to consumer demand are expected to grow.”

Bhatnagar added, “We are refocusing on the areas we are attracting, the customers we can pursue and the suppliers we need to add.”

Demand for auto parts is recovering, he said, but it is difficult to predict whether demand will last long.

Bhatnagar said the automotive sector is growing at a much faster rate, around double digits, while the industrial sector is growing at a lower rate, in single digits.

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Demand was quite good during the holiday season and the automotive industry performed well during the holiday season. He said, “So far, we are just focusing on the demand during the holidays and things are going well and the future looks bright.”

He said, “At this point, that could be due to a prolonged blockade or it could be due to the buildup of inventory during the holiday season.”

However, he added that the actual nature of demand and the peak season will only be known in early December when November sales figures are released.

On the on-demand recovery in the automobile sector, he said, “I think two-wheelers and tractors have recovered and grown. On the other hand, the systemic problems in the commercial vehicle sector predate the automobile industry.” Growth is expected to accelerate with the launch of new models during the holidays and early next year.

Bhatnagar “We don’t expect the commercial vehicle market to recover anytime soon,” he said. growth is likely to be seen in 2022. It started around 2000. However, other segments will recover much earlier than commercial vehicles.

He also said that although the supply chain issue has not been resolved, it has no impact on SKF’s business in India as the company has established “best-in-class” supply chain mechanisms in the country.