Heavy-duty Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part, By Vehicle Type, By Service Channel, By Region, And Segment Forecast, 2023 - 2030

Heavy-duty Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part, By Vehicle Type, By Service Channel, By Region, And Segment Forecast, 2023 - 2030

Heavy-Duty Automotive Aftermarket Industry Growth & Trends

The global heavy-duty automotive aftermarket industry size is anticipated to reach USD 186.39 billion by 2030, registering a CAGR of 3.79% from 2023 to 2030, according to a new report by Grand View Research, Inc. Heavy-duty vehicles are used extensively and directly in capital-intensive projects. Increasing requirements for new infrastructure have enhanced demand for such construction vehicles. Growing demand for heavy-duty vehicles is anticipated to increase aftermarket demand as these vehicles frequently need pricey parts for maintenance and repair. Vehicle aging is anticipated to support aftermarket demand globally. Infrastructure development activities are directly tied to market growth. The number of vehicles, the longevity of the components, how often the vehicle is used, and the age of the vehicle are the main determinants of the demand for heavy-duty replacement parts.

The aftermarket includes a vast array of products and parts such as engines, transmissions, brakes, suspensions, exhaust systems, and tires. These components are sold to fleet operators, independent repair shops, and individual owners for maintenance and replacement purposes. Service providers in the market offer repair and maintenance services to keep these vehicles in good working condition. This includes services like engine overhauls, transmission repairs, brake inspections, and routine maintenance.

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’s growth. 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 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 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 the demand of the heavy-duty aftermarket industry. The alignment of manufacturing on a global scale is expected to help overcome technical barriers.

The aftermarket for heavy-duty automotive is a global industry, with companies operating on a regional and international scale. Different regions may have specific market dynamics influenced by factors like vehicle demand, regulatory standards, and economic conditions. For example, in the United States and Canada, the heavy-duty truck market is significant, with a substantial number of trucks and commercial vehicles on the road. This drives a robust aftermarket for parts and services. The adoption of electric and hybrid heavy-duty vehicles is rising in the U.S., leading to increased demand for electric vehicle (EV) components and charging infrastructure.

Heavy-duty Automotive Aftermarket Industry Report Highlights

• Based on replacement parts, the other segment held the largest revenue share of over 47.4% in 2022.The increase in the aging population of trucks in various regions such as North America and Europe is expected to fuel the growth of replacement parts, owing to the increased wear and tear with the age of the trucks
• Based on vehicle type, the class 7 to class 8 segment held a dominant revenue share of 64.3% in 2022. There is a higher demand for class 7 and 8 aftermarket products in nations such as South Africa, and Brazil, where road infrastructure is in its developing stage and transportation fleets require frequent maintenance
• Based on vehicle type, the DiFM segment dominated with a revenue share of 69.4% in 2022.Modern heavy-duty vehicles are becoming increasingly complex, with advanced technologies, emissions control systems, and telematics. This complexity drives demand for professional DiFM services as DIY maintenance becomes more challenging.
• The Asia Pacific region led with the largest revenue share of 41.2% in 2022. The region is a significant market for heavy-duty vehicles, particularly, in countries like China and India. In countries like China, where environmental concerns are increasing, there is a growing interest in emissions control technologies which results in the growth of the market

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