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The global heavy-duty automotive aftermarket market reached a value of US$ 120.5 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 155.4 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The heavy-duty automotive aftermarket refers to the secondary market in the automotive sector that primarily deals with after-sales of heavy-duty vehicle components. The market engages in the manufacturing, retrofitting, replacement and distribution of automobile equipment, tires, lubricants, exhaust components, appearance products, and accessories, among several others. Various automotive aftermarket heavy-duty products provide the scope of remanufacturing or reinstallation of mechanical and electrical components, thereby minimizing expenses and enhancing vehicle life. Additionally, the retrofitting and refurbishment of old vehicles also help in reducing carbon emissions by their automotive parts. Owing to these benefits, automotive heavy-duty parts are widely employed across various service channels, including original equipment sellers, DIFMs, and DIYs, among others.
Rapid digitalization, coupled with the rising integration of Internet-of-Things (IoT) sensors with advanced tracking technologies in heavy-duty vehicles, has propelled the market growth globally. These IoT sensors installed in the heavy-duty automobiles allow several fleet managements companies to get real-time information regarding the condition of replacement parts, thereby minimizing various risks involved in the untimely breakdown of the vehicle. Furthermore, rising environmental concerns, along with the implementation of stringent laws by various governments to limit emissions by heavy-duty vehicles have also catalyzed the demand for heavy-duty aftermarket components. Moreover, the growing consumer awareness towards regular servicing and maintenance of their vehicles, further bolsters the market growth. The wide availability of heavy-duty automotive parts across various e-commerce platforms have enabled the customers to purchase genuine and original quality parts at reasonable prices, which is also fueling the growth of this market. In addition to this, various technological upgradations have led to the introduction of several innovative services, such as telematics and mobility services, that further drive the market for heavy-duty automotive afterparts. Moreover, across several emerging economies of the Middle East, Asia Pacific, and Latin America, the growth of heavy-duty automotive aftermarket can be attributed to the growing sales and ownerships of heavy-duty vehicles, which is also bolstering the demand for aftermarket products. On the other hand, various developed regions of North America and Europe are rapidly adopting various technological advancements for the development and commercialization of autonomous trucks that spur the sales of aftermarket truck components and parts. Additionally, several automotive manufacturers are entering into strategic collaborations and partnerships with various exhaust components OEMs, thereby positively influencing the demand for automotive aftermarket heavy-duty products. All of the abovementioned factors will continue to bolster the market growth in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global heavy-duty automotive aftermarket market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on replacement parts, vehicle type and service channel.
Breakup by Replacement Parts:
Breakup by Vehicle Type:
Breakup by Service Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being 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, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Replacement Parts, Vehicle Type, Service Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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. and UCI International, LLC|
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The global heavy-duty automotive aftermarket market was valued at US$ 120.5 Billion in 2020.
The expanding automotive sector and the rising integration of Internet-of-Things (IoT) sensors with advanced tracking technologies in heavy-duty vehicles represent some of the factors driving the global heavy-duty automotive aftermarket market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of manufacturing the heavy-duty vehicle components, with decrease in the demand based on unavailability of sufficient fund, thereby negatively impacting the overall market growth.
Based on the vehicle type, the global heavy-duty automotive aftermarket market can be segmented into Class 4 to Class 6 and Class 7 and Class 8. Currently, Class 7 and Class 8 holds the majority of the total market share.
Based on the service channel, the global heavy-duty automotive aftermarket market has been segregated into DIY, OE seller, and DIFM. Among these, DIFM currently represents the largest segment.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global heavy-duty automotive aftermarket market include 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, etc.
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