Heavy Duty Automotive Aftermarket Market to reach USD 105.38 Bn by 2029, emerging at a CAGR of 5.2 percent and forecast 2023-2029

Heavy Duty Automotive Aftermarket Market Report Scope and Research Methodology

The global Heavy-Duty Automotive Aftermarket Market, valued at $72.75 billion in 2023, is projected to witness robust growth, reaching $105.38 billion by 2029. This represents a compound annual growth rate (CAGR) of 5.2% during the forecast period.

Maximize Market Research Pvt Ltd, a leading market research firm, has released an in-depth report on the Heavy-Duty Automotive Aftermarket Market. The report encompasses key insights, market dynamics, trends, challenges, and opportunities in the heavy-duty automotive aftermarket industry.

The research methodology employed by Maximize Market Research combines both primary and secondary research methods. This includes data collection from existing sources such as industry reports, academic journals, and online databases, complemented by primary research through surveys, interviews, and other techniques. The analysis aims to provide a comprehensive understanding of the market, drawing conclusions and recommendations from the gathered data.

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Heavy Duty Automotive Aftermarket Market Dynamics:

One of the primary catalysts for the robust growth of the heavy-duty automotive aftermarket market stems from the aging fleet of heavy-duty vehicles in operation. As these vehicles mature, the necessity for more frequent maintenance and replacement parts becomes imperative, consequently propelling the demand for aftermarket products and services. The escalating number of aging heavy-duty vehicles on the road further amplifies the requirement for replacement parts, thus significantly contributing to the overall expansion of the aftermarket market. Vehicle owners are actively seeking aftermarket solutions to ensure the continuous optimal performance of their vehicles and to sustain their working condition.

Another pivotal factor fueling the market's growth is the surging popularity of e-commerce channels. The evolving consumer trend towards online purchases is evident, with customers increasingly choosing the convenience and simplicity of acquiring products through digital platforms. This shift in consumer behavior is a key driver propelling the heavy-duty automotive aftermarket market forward.

Heavy Duty Automotive Aftermarket Market Regional Insights:

The heavy-duty automotive aftermarket sector in North America stands as the global leader, boasting the largest market for products and services. The expansion of this market is propelled by several factors, including a high level of disposable income, a burgeoning transportation sector, and a rising demand for electric vehicles. Primary contributors to the growth of this market in North America are the United States and Canada.

In Europe, key contributors to the flourishing heavy-duty automotive aftermarket market include prominent countries such as Germany, France, and the United Kingdom. The growth in this region is fueled by stringent regulations pertaining to emissions, safety standards, and vehicle performance, driving an increased demand for aftermarket products and services.

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Heavy Duty Automotive Aftermarket Market Segmentation:

by Type

1. engine and engine parts
2. transmission and drivetrain parts
3. suspension and braking parts
4. electrical and electronic parts
5. body and interior parts
6. others

by Vehicle Type

1. trucks
2. buses
3. trailers
4. others

by Sales Channel

1. original equipment supplier (OES)
2. independent aftermarket (IAM)

by Component

1. batteries
2. brake parts
3. filters
4. exhaust systems
5.lighting and electrical components
6. Turbochargers
7. others

by End-User

1. fleet operators
2. repair and maintenance service providers
3. individual vehicle owners

by Service Provider

1. authorized service centers
2. independent service centers
3.others

by Vehicle Age

1. less than 5 years old
2. 5-10 years old
3. More than 10 years old

by Material

1. Metal
2. Plastic
3. others

by Technology

1. Mechanical
2. Electronic
3. Hybrid

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Heavy Duty Automotive Aftermarket Market Key Players:

1. Advance Auto Parts (USA)
2. O'Reilly Auto Parts (USA)
3. AutoZone (USA)
4. Genuine Parts Company (USA)
5. Canadian Tire (Canada)
6. Robert Bosch GmbH (Germany)
7. Continental AG (Germany)
8. Denso Corporation (Japan)
9. Magna International Inc. (Canada)
10. Valeo SA (France)
11. China Automotive Systems Inc. (China)
12. Aisin Seiki Co., Ltd. (Japan)
13. Hitachi Automotive Systems Ltd. (Japan)
14. ZF Friedrichshafen AG (Germany)
15. Knorr-Bremse AG (Germany)
16. AutoZone (Mexico)
17. Robert Bosch GmbH (Brazil)
18. DENSO Corporation (Mexico)
19. Hella GmbH & Co. KGaA (Mexico)
20. Continental AG (Brazil)
21. Bridgestone Corporation (Japan)
22. Valeo SA (France)
23. Continental AG (Germany)
24. Magneti Marelli S.p.A. (Italy)
25. Denso Corporation (Japan)

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Table of content for the Heavy Duty Automotive Aftermarket Market includes:

1. Global Heavy Duty Automotive Aftermarket Market: Research Methodology

2. Global Heavy Duty Automotive Aftermarket Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3.Global Heavy Duty Automotive Aftermarket Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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