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 Increasing presence of older, more outdated trucks is leading to rise in demand for replacement parts, which in turn, drives the heavy-duty automotive aftermarket.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.
Full Research Report On Heavy-duty Automotive Aftermarket Visit Here:
https://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.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/heavy-duty-automotive-aftermarket-industry/request/rs1
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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- 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.
For more info visit @ https://www.grandviewresearch.com
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