Global Heavy-Duty Automotive Aftermarket Market Growth (Status and Outlook) 2024-2030
The global Heavy-Duty Automotive Aftermarket market size was valued at US$ 120,880 million in 2023. With growing demand in the downstream market, the heavy-duty automotive aftermar
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Introduction
The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories.
Market Insights
According to the Publishers’ latest study, the global Heavy-Duty Automotive Aftermarket market size was valued at US$ 120880 million in 2023. With growing demand in downstream market, the Heavy-Duty Automotive Aftermarket is forecast to a readjusted size of US$ 175820 million by 2030 with a CAGR of 5.5% during review period.
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Asia Pacific emerged as the leading regional market in terms of revenue in 2019. Rise in number of trucks in developing nations such as China and India is expected to drive demand for aftermarket components over the forecast period. China is the largest consumption region with a share of 33.2% in 2019.
Key Features:
The report on Heavy-Duty Automotive Aftermarket market reflects various aspects and provide valuable insights into the industry.
Trends:
The global heavy-duty automotive aftermarket has been shaped by several key trends in recent years:
Increasing Fleet Size and Vehicle Miles Traveled: The growing number of heavy-duty vehicles, such as commercial trucks, buses, and construction equipment, combined with the increasing average miles traveled per vehicle, has been a significant driver for the aftermarket industry.
Shift towards Preventive Maintenance: There is an increasing focus on preventive maintenance and proactive vehicle care among fleet operators, leading to a growing demand for replacement parts, repair services, and maintenance products.
Technological Advancements: The integration of advanced technologies, such as telematics, predictive analytics, and connected vehicle solutions, has transformed the heavy-duty automotive aftermarket, enabling better fleet management, data-driven maintenance, and improved overall vehicle performance.
Sustainability and Environmental Regulations: Stricter environmental regulations and the growing emphasis on sustainability have driven the demand for aftermarket products and services that enhance fuel efficiency, reduce emissions, and promote the use of eco-friendly components.
Digitalization and E-commerce: The rise of e-commerce platforms and the increasing adoption of digital technologies have revolutionized the heavy-duty automotive aftermarket, enabling online parts ordering, remote diagnostics, and enhanced customer experiences.
Drivers:
The growth of the global heavy-duty automotive aftermarket is driven by several key factors:
Aging Vehicle Fleet: The increasing age of heavy-duty vehicles, coupled with higher mileage accumulation, has led to a greater demand for replacement parts, maintenance, and repair services.
Demand for Customization and Specialty Parts: Fleet operators are seeking customized solutions and specialty parts to meet specific operational needs, such as enhanced productivity, improved safety, and reduced operating costs.
Longer Vehicle Life Cycles: The trend towards longer vehicle life cycles in the heavy-duty segment has created a sustained need for aftermarket parts and services to maintain the performance and reliability of these vehicles.
Increasing Complexity of Vehicle Technologies: The growing complexity of heavy-duty vehicle technologies, including advanced electronics, engine systems, and diagnostic tools, has driven the demand for specialized aftermarket solutions and skilled technicians.
Globalization and Expanding Trade Networks: The globalization of supply chains and the expansion of international trade have increased the availability of aftermarket parts and services across different regions, fueling market growth.
Opportunities:
The global heavy-duty automotive aftermarket presents several growth opportunities, including:
Emerging Markets: Rapidly developing economies, particularly in Asia-Pacific, Africa, and Latin America, offer significant potential for the heavy-duty automotive aftermarket due to the growth in commercial vehicle fleets and infrastructure development.
Electrification and Alternative Fuel Vehicles: The increasing adoption of electric and alternative-fuel heavy-duty vehicles, such as hybrid, natural gas, and hydrogen-powered vehicles, creates new opportunities for specialized aftermarket products and services.
Digitalization and Data-Driven Services: The integration of advanced technologies, such as IoT, predictive analytics, and cloud-based platforms, can enable the development of innovative aftermarket solutions, including remote diagnostics, predictive maintenance, and fleet optimization services.
Expansion into Ancillary Services: Beyond traditional replacement parts and repair services, there are opportunities for aftermarket players to diversify into complementary services, such as fleet management, training, and mobile maintenance solutions.
Mergers, Acquisitions, and Strategic Partnerships: Consolidation and strategic partnerships within the heavy-duty automotive aftermarket can lead to the integration of diverse capabilities, expanded product portfolios, and improved market reach.
Threats:
The global heavy-duty automotive aftermarket also faces several threats and challenges, including:
Increasing Competition: The heavy-duty automotive aftermarket is highly competitive, with the presence of both established players and new entrants, leading to price pressures and the need for continuous innovation.
Shift towards Original Equipment Manufacturer (OEM) Parts and Services: Fleet operators' growing preference for OEM-branded parts and authorized repair services can pose a challenge for independent aftermarket players.
Regulatory Changes and Compliance Requirements: Evolving regulations, such as emissions standards, safety guidelines, and parts certification requirements, can create compliance challenges and increase operating costs for aftermarket businesses.
Supply Chain Disruptions: Disruptions in the global supply chain, including the availability of raw materials, components, and logistics, can impact the timely delivery of aftermarket products and services.
Technological Obsolescence: The rapid pace of technological advancements in heavy-duty vehicles, particularly in areas like telematics and advanced driver assistance systems, can lead to the obsolescence of certain aftermarket products and services.
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Research Consultant
Market Size and Growth: The research report provide an overview of the current size and growth of the Heavy-Duty Automotive Aftermarket market. It may include historical data, market segmentation by Type (e.g., Class 4 to Class 6, Class 7 and Class 8), and regional breakdowns.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Heavy-Duty Automotive Aftermarket market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Heavy-Duty Automotive Aftermarket market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Heavy-Duty Automotive Aftermarket market. The report also evaluates the effectiveness of these policies in driving market growth.
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Market Forecasts and Future Outlook: The heavy-duty automotive aftermarket will also face challenges, such as increasing competition, the shift towards OEM-branded parts and services, regulatory changes, supply chain disruptions, and the rapid pace of technological advancements. The ability of market players to adapt to these challenges and capitalize on the emerging opportunities will be crucial in shaping the future of the global heavy-duty automotive aftermarket.
Market Segmentation:
Heavy-Duty Automotive Aftermarket market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
Class 4 to Class 6
Class 7 and Class 8
Segmentation by application
DIY
OE Seller
DIFM
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Bridgestone
Michelin
Continental
Goodyear
Bosch
Tenneco
ZF
Denso
3M Company
Delphi
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Heavy-Duty Automotive Aftermarket Market Size 2019-2030
2.1.2 Heavy-Duty Automotive Aftermarket Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Heavy-Duty Automotive Aftermarket Segment by Type
2.2.1 Class 4 to Class 6
2.2.2 Class 7 and Class 8
2.3 Heavy-Duty Automotive Aftermarket Market Size by Type
2.3.1 Heavy-Duty Automotive Aftermarket Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Heavy-Duty Automotive Aftermarket Market Size Market Share by Type (2019-2024)
2.4 Heavy-Duty Automotive Aftermarket Segment by Application
2.4.1 DIY
2.4.2 OE Seller
2.4.3 DIFM
2.5 Heavy-Duty Automotive Aftermarket Market Size by Application
2.5.1 Heavy-Duty Automotive Aftermarket Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Heavy-Duty Automotive Aftermarket Market Size Market Share by Application (2019-2024)
3 Heavy-Duty Automotive Aftermarket Market Size by Player
3.1 Heavy-Duty Automotive Aftermarket Market Size Market Share by Players
3.1.1 Global Heavy-Duty Automotive Aftermarket Revenue by Players (2019-2024)
3.1.2 Global Heavy-Duty Automotive Aftermarket Revenue Market Share by Players (2019-2024)
3.2 Global Heavy-Duty Automotive Aftermarket Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Heavy-Duty Automotive Aftermarket by Regions
4.1 Heavy-Duty Automotive Aftermarket Market Size by Regions (2019-2024)
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