GVR Report cover Heavy Duty Aftermarket Size, Share & Trends Report

Heavy Duty Aftermarket Size, Share & Trends Analysis Report By Product, By Technology, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Report ID: 595
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global heavy-duty aftermarket is anticipated to grow significantly over the forecast period. Heavy-duty vehicles are used extensively and directly in capital intensive projects. Increasing requirements for new infrastructure has enhanced demand for such construction vehicles. Rising demand for heavy-duty vehicles is expected to boost aftermarket demand since these vehicles often require expensive parts for maintenance and repair. Global aftermarket demand is expected to be supported by aging vehicles. Market growth is directly related to infrastructural development activities. The need for heavy-duty replacement parts depends on several factors, most significantly vehicle population, component durability, vehicle utilization, and vehicle age.

The past decade has seen major consolidation throughout the heavy-duty market, thus creating mega-fleets, mega distributors, mega dealers, and an increasing number of trucks. Computerized management systems, offshore sourcing, and sales, as well as advancements in communication technology and increased durability, have also contributed to the heavy-duty aftermarket industry. Outsourced service providers are expected to continue dominating the aftermarket for heavy-duty vehicles. However, the increased complexity of repair procedures and diagnosis of new heavy-duty trucks is causing some outsourced service providers to gain market share. Industry consolidation has seen large automotive groups bringing together brands, in an effort to spread the R&D costs associated with new model development and gain economies of scale. This helps the producers to explore product development opportunities in order to increase profitability and become more efficient. The industry has witnessed the addition of an array of global products. However, differences in quality, technical specifications, and cost make it difficult to develop and design a vehicle that suits demand of the heavy-duty aftermarket industry. The alignment of manufacturing on a global scale is expected to help overcome technical barriers.

Vehicle design is expected to reflect many changes such as a focus on eco-friendly fuels, alternative drivetrains, change in goods transportation patterns, etc. Asian producers have emerged as strong players and are developing the technologies to compete on a global level. Key vendors dominating the heavy-duty aftermarket industry include China National Heavy Duty, Beiqi Foton Motor Co., Ltd., Daimler Trucks, and Navistar International.

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