Heavy Duty Truck Parts Dealers in the US - Industry Market Research Report

Heavy Duty Truck Parts Dealers in the US - Industry Market Research Report

Heavy Duty Truck Parts Dealers in the US

The Heavy Duty Truck Parts Dealers industry has experienced an overall decline in revenue in recent years. Industry revenue has benefited from an increase in the average age of vehicle fleet, which increased demand from truck repair and maintenance service providers. However, truck manufacturers demanded fewer heavy duty truck parts during the period, harming revenue growth. The COVID-19 pandemic negatively affected industry revenue, with steel prices increasing and demand from downstream markets decreasing in 2020. While overall positive trends are expected to have supported industry revenue in the years following 2020, the industry has not yet fully recovered. IBISWorld estimates industry revenue has been decreasing at a CAGR of 2.3% over the past five years, and is expected to reach $21.3 billion in 2023. In the same year, revenue is expected to grow 1.5%.

Operators in this industry primarily engage in the merchant wholesale distribution of truck parts and supplies for heavy duty and commercial trucks. Products include engine parts, differentials, transmissions, suspensions and cabs. New tires and tubes are excluded.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."