IMARC Group, a leading market research company, has recently released a report titled "Heavy-Duty Automotive Aftermarket Market Report by Replacement Parts (Tires, Batteries, Brake Parts, Filters, Body Parts, Lighting and Electronic Components, Wheels, Exhaust Components, Turbochargers, and Others), Vehicle Type (4 to Class 6, Class 7 and Class 8), Service Channel (DIY, OE Seller, DIFM), and Region 2024-2032". The study provides a detailed analysis of the industry, including the global heavy-duty automotive aftermarket market share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global heavy-duty automotive aftermarket market size is expected to exhibit a growth rate (CAGR) of 3.14% during 2024-2032.
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Factors Affecting the Growth of the Heavy-Duty Automotive Aftermarket Industry:
Aging Vehicle Fleet:
The aging vehicle fleet is one of the most significant factors driving the growth in the heavy-duty automotive aftermarket market. As vehicles age, they require more frequent and comprehensive maintenance to ensure their continued safe and efficient operation. Furthermore, older vehicles are more prone to wear and tear, necessitating the replacement of parts such as brake systems, suspension components, exhaust systems, and various engine parts. This continuous demand for replacement parts is creating a substantial market for aftermarket products. Additionally, older vehicles often fall out of warranty coverage, promoting owners to seek cost-effective solutions in the aftermarket rather than returning to original equipment manufacturers (OEMs) for repairs.
Increasing Vehicle Miles Traveled (VMT):
The increasing vehicle miles traveled (VMT) is another pivotal factor driving the growth of the heavy-duty automotive aftermarket market. As vehicles are driven more frequently and over longer distances, the rate of wear and tear accelerates, leading to a higher demand for maintenance and replacement parts. This trend is particularly notable in sectors such as logistics, transportation, and delivery services, where heavy-duty vehicles are integral to operations. The rise of e-commerce has significantly contributed to this increase in VMT, with more goods being transported to meet consumer demand. Additionally, as global economies grow and urbanization continues, the need for efficient transportation infrastructure intensifies, further boosting VMT. This consistent and elevated usage of vehicles translates directly into greater opportunities for the aftermarket industry.
Technological Advancements:
Technological advancements in the automotive industry are playing a transformative role in driving the heavy-duty automotive aftermarket market. Innovations such as advanced driver-assistance systems (ADAS), telematics, and electric vehicle (EV) technologies are creating new avenues for aftermarket products and services. ADAS technologies, which include features like adaptive cruise control, lane-keeping assistance, and automated braking, require specialized maintenance and parts, fostering a new segment within the aftermarket industry. Similarly, telematics systems, which provide real-time data on vehicle performance and diagnostics, are enabling predictive maintenance models that can preemptively identify and address potential issues. This shift towards proactive maintenance not only enhances vehicle reliability but also increases the demand for high-tech aftermarket solutions.
Heavy-Duty Automotive Aftermarket Market Report Segmentation:
By Replacement Parts:
- Tires
- Batteries
- Brake Parts
- Filters
- Body Parts
- Lighting and Electronic Components
- Wheels
- Exhaust Components
- Turbochargers
- Others
Based on the replacement parts, the market has been divided into tires, batteries, brake parts, filters, body parts, lighting and electronic components., wheels, exhaust components, turbochargers, and others.
By Vehicle Type:
- Class 4 to Class 6
- Class 7 and Class 8
On the basis of the vehicle type, the market has been bifurcated into class 4 to class 6 and class 7 and class 8.
By Service Channel:
- DIY
- OE Seller
- DIFM
Based on the service channel, the market has been classified into DIY, OE Seller, and DIFM.
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Region-wise the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Global Heavy-Duty Automotive Aftermarket Market Trends:
The significant growth of online retail platforms, which has made it easier for consumers and businesses to purchase aftermarket parts, is boosting the market expansion. Additionally, the imposition of stricter environmental regulations, requiring regular maintenance and replacement of parts to ensure compliance, is driving the market growth. Besides this, the expansion of the logistics sector, which increases the use of heavy-duty vehicles, thereby elevating the demand for aftermarket services and parts, is supporting the market growth. Furthermore, rapid urbanization and infrastructure projects, which increase the use of heavy-duty vehicles, are fostering the market growth.
Top Companies Operated in Heavy-Duty Automotive Aftermarket Industry:
- 3M Company
- Atc Drivetrain, LLC
- Continental Aktiengesellschaft
- DENSO CORPORATION
- Detroit Diesel Corporation
- Dorian Drake International Inc.
- Dorman Products, Inc.
- Federal-Mogul Products US LLC
- Instrument Sales and Service, Inc.
- UCI International, LLC
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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