The Aftermarket Is Growing Faster Than the Original Market

Everyone tracks new capacity and fresh orders. The recurring revenue story is getting overlooked. As India's installed base of industrial equipment, power plants and automation systems expands, demand for servicing, spare parts and maintenance contracts is rising steadily. These businesses typically enjoy higher margins, stronger cash flows and better earnings visibility than one-time equipment sales. Companies like $ABB , $SIEMENS , $THERMAX , $CUMMINSIND and $HONAUT could quietly compound through this long-term aftermarket opportunity.