The global heavy-duty automotive aftermarket market grew at a CAGR of around 5.3% during 2014-2019. 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. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.
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.
The global heavy-duty automotive aftermarket market was worth around US$ 118 Billion in 2019.
According to the estimates by IMARC Group, the global heavy-duty automotive aftermarket market will exhibit moderate growth during the next five years.
The increasing integration of the Internet-of-Things (IoT) sensors with advanced tracking technologies in heavy-duty vehicles, in confluence with rising consumer awareness about regular servicing and maintenance of their vehicles, represents one of the major factors impelling the market growth.
Due to rising environmental concerns, governments of numerous countries are implementing stringent laws to limit vehicular emissions. Consequently, leading automotive manufacturers are partnering with various exhaust components original equipment manufacturers (OEMs), which represents one of the major trends in the market.
Due to the mass spread coronavirus disease (COVID-19), governments of several countries have imposed lockdowns and are promoting social distancing measures. This, along with disrupted supply chains, and the temporary closure of manufacturing units, is negatively impacting the market growth.
Based on replacement parts, the market has been categorized into tires, batteries, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, turbochargers, and others.
The market has been bifurcated based on the vehicle type into class 4 to 6 and class 7 and 8.
On the basis of the service channel, the market has been classified into DIY, OE seller and DIFM.
Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
Leading industry players are 3M Company, ATC Drivetrain, LLC, Continental AG, Denso Corporation, Detroit Diesel Corporation, Dorian Drake International Inc., Dorman Products, Inc., Tenneco Inc., Instrument Sales and Service, Inc. and UCI International, LLC.
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