Insights into Heavy-Duty Automotive Aftermarket Market Trends: Market Analysis and Key Competitors
In a recent report by IMARC Group called "Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", it has been predicted that the heavy-duty automotive aftermarket market will experience a Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2028.
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What does the term 'heavy-duty automotive aftermarket' refer to?
The secondary market for heavy-duty automotive parts and accessories deals with various aspects like remanufacturing, manufacturing, retailing, distribution, and installation. It also includes the replacement and distribution of different automobile equipment, exhaust components, appearance products, tires, lubricants, and accessories. This market also offers services to improve the performance and reduce carbon emissions of older vehicles through refurbishment and retrofitting. By providing a range of generic parts, the heavy-duty automotive aftermarket helps extend the lifespan of vehicles and reduce expenses. As a result, these parts are widely used by different service channels such as defense industrial financial management systems (DIFMs), original equipment sellers, and do-it-yourself (DIYs).
What are the potential for expansion and patterns in the heavy-duty automotive aftermarket business?
The market growth is being greatly influenced by the increased understanding among consumers about the importance of maintaining and servicing their vehicles regularly, as well as the easy availability of heavy-duty vehicle parts on online shopping platforms. Other factors driving the growth include the growing partnerships between car manufacturers and the incorporation of IoT-based sensors and advanced technologies in heavy-duty vehicles. Additionally, governments in different countries are implementing strict laws to reduce emissions from heavy-duty vehicles, which is creating a positive outlook for the market. Furthermore, the rapid digitalization, the commercialization of autonomous trucks, and the introduction of innovative services like mobility and telematics are also contributing to the market's growth.
Competition and Division in the Heavy-Duty Automotive Aftermarket Sector from 2023 to 2028
Overview of the Market and Major Participants:
The report provides a thorough analysis of the competitive environment in the worldwide heavy-duty automotive aftermarket market, including in-depth profiles of the main companies active in the industry.
Several of these significant participants consist of:
The blog section features a multitude of eminent companies such as 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.
End of Relationship through Spare Parts
Tyres, batteries, brake components, filters, body components, electronic parts, wheels, exhaust parts, turbocharging equipment, and miscellaneous items.
Separation according to the kind of vehicles:
Grade 4 to Grade 6 Grade 7 and Grade 8
Dividing the service channel
Do-it-yourself Original Equipment (OE) provider Done-By-Others (DBO)
Asia Pacific - East Asia, Southeast Asia, and Pacific Islands North America - United States, Canada, Mexico Europe - Western Europe, Eastern Europe, and Scandinavian countries Middle East and Africa - Gulf countries, North Africa, Sub-Saharan Africa, and the Middle Eastern peninsula Latin America - Central America, South America, and the Caribbean
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Important Points from the Report:
Performance of the market from 2017 to 2022, Outlook of the market from 2023 to 2028, Current trends in the market, Factors that drive the market and contribute to its success, Effects of COVID-19 on the market, Analysis of the value chain, Detailed assessment of the competitive landscape.
If there are particular details that you require which are not presently covered in the report, we will furnish them to you as part of the customization service.
For media inquiries, please reach out to IMARC Group through the following contact details: - Company Name: IMARC Group - Contact Person: Elena Anderson - Email: [email protected] - Phone: +1-631-791-1145 - Address: 134 N 4th St, Brooklyn, NY, United States - Website: https://www.imarcgroup.com
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