Heavy-duty Automotive Aftermarket Worth $155.8 Billion by 2025

Grand View Research, Inc.

SAN FRANCISCO, Feb. 20, 2019 /PRNewswire/ -- The global heavy-duty automotive aftermarket size is anticipated to reach USD 155.8 billion by 2025, according to a new report by Grand View Research, exhibiting a 4.5% CAGR during the forecast period. Increasing presence of older, more outdated trucks is leading to rise in demand for replacement parts, which in turn, drives the heavy-duty automotive aftermarket. Other factors expected to drive the market include greater wear and tear of vehicles due to frequent use, growth in number of vehicles, and durability of components.

Key suggestions from the report:

• Demand for heavy-duty aftermarket components is expected to grow owing to rising penetration of e-commerce in distribution and sale of automotive components
• The DIY segment is expected to exhibit the highest CAGR of 9.0% over the forecast period
• Rising awareness about emission standards and stringent laws laid down by various governments to limit emissions by heavy-duty vehicles is expected to positively impact the market
• 3M Company; ATC Technology Corp; Continental AG; Denso Corporation; Detroit Diesel Corporation; Dorian Drake International Inc.; Dorman Products; Federal-Mogul LLC; Instrument Sales & Service, Inc.; Remy International Inc.; and UCI International Inc. are some of the key players in the heavy-duty automotive aftermarket.

Read 100 page research report with TOC on "Heavy-duty Automotive Aftermarket Analysis Report By Vehicle Type, By Replacement Part (Tires, Brake Parts, Turbochargers), By Service Channel (DIFM, DIY), By Region, And Segment Forecasts, 2018 - 2025" at:  https://www.grandviewresearch.com/industry-analysis/heavy-duty-automotive-aftermarket-industry

Connected trucks are embedded with IoT sensors that enable fleet management companies to obtain real-time data on the condition of replacement parts in trucks. Thus, digitalization and IoT have helped drivers gain insights on the health of the vehicle and to schedule preventive maintenance checks. Subsequently, with more real-time data made available about the vehicles, automotive parts can be replaced periodically. This, in turn, is expected to boost demand for heavy-duty automotive aftermarket components over the forecast period.