Press release
Heavy-Duty Automotive Aftermarket Market Size, Top Companies, Latest Trends, Analysis and Forecast Till 2028
How Big is the Heavy-Duty Automotive Aftermarket Market?
The global heavy-duty automotive aftermarket market is expected to exhibit a growth rate (CAGR) of 3.5% during 2023-2028.
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What is Heavy-Duty Automotive Aftermarket?
The heavy-duty automotive aftermarket is a secondary market that deals with the remanufacturing, manufacturing, retailing, distribution, and installation of all vehicle parts, equipment, chemicals, and accessories. It also includes the replacement and distribution of automobile equipment, exhaust components, appearance products, tires, lubricants, and accessories. It offers refurbishment and retrofitting services to older vehicles to improve their performance and reduce carbon emissions. The heavy-duty automotive aftermarket provides a variety of generic parts and helps enhance vehicle life and minimize expenses. Consequently, automotive heavy-duty parts are extensively used across several service channels, such as defense industrial financial management systems (DIFMs), original equipment sellers, and do-it-yourself (DIYs).
Heavy-Duty Automotive Aftermarket Market Trends:
The increasing consumer understanding of regular vehicle maintenance and servicing and the easy availability of heavy-duty vehicle components on e-commerce platforms are primary factors significantly boosting the market growth. The rising strategic collaborations between automobile manufacturers and the integration of Internet-of-Things (IoT)-based sensors with advanced technologies in heavy-duty vehicles are acting as other growth-inducing factors. Additionally, governments of various nations are implementing stringent laws to limit emissions by heavy-duty vehicles, which, in turn, is creating a positive outlook for the market. Besides this, rapid digitalization, commercialization of autonomous trucks, and the introduction of several innovative services, such as mobility and telematic services, are positively contributing to the market growth.
Leading Companies Operating in the Global Heavy-Duty Automotive Aftermarket Industry:
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
Heavy-Duty Automotive Aftermarket Market Report Segmentation:
Breakup by Replacement Parts:
Tires
Batteries
Brake Parts
Filters
Body Parts
Lighting and Electronic Components
Wheels
Exhaust Components
Turbochargers
Others
Breakup by Vehicle Type:
Class 4 to Class 6
Class 7 and Class 8
Breakup by Service Channel:
DIY
OE Seller
DIFM
Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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