Heavy-Duty Automotive Aftermarket Market Regional Share, Top Countries Data, New Innovations, Emerging Trends Analysis Report
The Heavy-Duty Automotive Aftermarket Market valued at $72.75 billion in 2023 & is expected to grow to $ 105.38 billion by 2029, representing a compound annual growth rate (CAGR) of 5.2% during the forecast period.
Heavy-Duty Automotive Aftermarket Market Overview:
The Heavy-Duty Automotive Aftermarket market research provides a comprehensive insight into the competition, including the market share and company profiles of the world's biggest rivals. The research scope covers a comprehensive examination of the Heavy-Duty Automotive Aftermarket Market, as well as the causes for variances in the industry's growth across a variety of sectors.
Heavy-Duty Automotive Aftermarket Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
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Heavy-Duty Automotive Aftermarket Market Dynamics:
Market Drivers
The age of heavy-duty trucks on the road is one of the most significant factors. The demand for aftermarket goods and services is being driven by the fact that as these cars get older, they need more regular maintenance and replacement parts. The growing number of heavy-duty vehicles on the road is also contributing to an increase in the need for replacement parts. As a result of car owners wanting to maintain the functionality of their vehicles, the aftermarket market is expanding.
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
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Heavy-Duty Automotive Aftermarket Market Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Heavy-Duty Automotive Aftermarket market are as follows:
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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Heavy-Duty Automotive Aftermarket Market Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Heavy-Duty Automotive Aftermarket market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Heavy-Duty Automotive Aftermarket Market:
End-user industries where Heavy-Duty Automotive Aftermarket are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Heavy-Duty Automotive Aftermarket manufacturers, harming the Heavy-Duty Automotive Aftermarket market's growth in 2020. End-user business demand for Heavy-Duty Automotive Aftermarket has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Heavy-Duty Automotive Aftermarket Market Report are:
- In 2021, which segment accounted for the most share of the Heavy-Duty Automotive Aftermarket market?
- What is the competitive landscape of the Heavy-Duty Automotive Aftermarket market?
- What are the key factors influencing Heavy-Duty Automotive Aftermarket market growth?
- In the Heavy-Duty Automotive Aftermarket market, which region has the most market share?
- What will be the CAGR of the Heavy-Duty Automotive Aftermarket market during the forecast period (2029-2029)?
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