The Report Heavy-duty Automotive Aftermarket Analysis Report By Vehicle Type, By
Replacement Part (Tires, Brake Parts, Turbochargers), By Service Channel (DIFM,
DIY), By Region, And Segment Forecasts, 2018 - 2025
The global heavy-duty automotive
aftermarket size is anticipated to reach USD 155.8 billion by 2025,
according to a new report by Grand View Research, exhibiting a 4.5% CAGR during
the forecast period. Increasing presence of older, more outdated trucks is
leading to rise in demand for replacement parts, which in turn, drives the
heavy-duty automotive aftermarket. Other factors expected to drive the market
include greater wear and tear of vehicles due to frequent use, growth in number
of vehicles, and durability of components.
Connected trucks are
embedded with IoT sensors that enable fleet management companies to obtain
real-time data on the condition of replacement parts in trucks. Thus,
digitalization and IoT have helped drivers gain insights on the health of the
vehicle and to schedule preventive maintenance checks. Subsequently, with more
real-time data made available about the vehicles, automotive parts can be
replaced periodically. This, in turn, is expected to boost demand for
heavy-duty automotive aftermarket components over the forecast period.
The Asia Pacific region
accounted for the largest market share in 2017, followed by Europe. Increasing
number of old trucks in regions such as North America and Europe is expected to
fuel demand for replacement parts on account of increased wear and tear of
these vehicles.
South America is poised
to expand at the highest CAGR over the forecast period, owing to rising sale of
trucks in developing countries such as Brazil. The heavy-duty automotive
aftermarket is expected to grow at a higher rate in nations such as South
Africa and Brazil owing to poor road infrastructure, which triggers the need
for frequent maintenance of transportation fleets.
Access Research Report of Heavy-duty
Automotive Aftermarket @ www.grandviewresearch.com/industry-analysis/heavy-duty-automotive-aftermarket-industry
Further key findings from the report suggest:
· Demand for heavy-duty aftermarket
components is expected to grow owing to rising penetration of e-commerce in
distribution and sale of automotive components
· The DIY segment is expected to exhibit the
highest CAGR of 9.0% over the forecast period
· Rising awareness about emission standards
and stringent laws laid down by various governments to limit emissions by
heavy-duty vehicles is expected to positively impact the market
· 3M Company; ATC Technology Corp;
Continental AG; Denso Corporation; Detroit Diesel Corporation; Dorian Drake
International Inc.; Dorman Products; Federal-Mogul LLC; Instrument Sales &
Service, Inc.; Remy International Inc.; and UCI International Inc. are some of
the key players in the heavy-duty automotive aftermarket.
Grand View Research has
segmented the global heavy-duty automotive aftermarket based on replacement
part, vehicle type, service channel, and region:
Heavy-Duty Automotive Aftermarket Replacement Parts
Outlook (Revenue, USD Billion, 2014 - 2025)
·
Tires
·
Batteries
·
Brake parts
·
Filters
·
Body parts
·
Lighting & electronic components
·
Wheels
·
Exhaust components
·
Turbochargers
·
Others
Heavy-Duty Automotive Aftermarket Vehicle Type Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Class 4 to Class 6
·
Class 7 & Class 8
Heavy-Duty Automotive Aftermarket Service Channel Outlook
(Revenue, USD Billion, 2014 - 2025)
·
DIY
·
OE seller
·
DIFM
Heavy-Duty Automotive Aftermarket Regional Outlook
(Revenue, USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
