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Market Size of More than $200 Million is Expected to Grow at 2.2% CAGR
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This study covers Class 1-3 vehicles gaskets aftermarket in terms of volume (in million units) and value ($ million) across the US and Canada. It discusses about the unit shipment, revenue average price, distribution channel share, and market share. The base year for this analysis is 2017 and the forecast period is 2018 to 2024. The North American gaskets aftermarket is likely to show marginal growth in unit shipment in the coming years. Increase in vehicles in operation (VIO), coupled with rising average vehicle age, will be the major driver for the growth of unit shipment during the forecast period. This study covers four product sub-types, namely cylinder head gaskets, intake manifold gaskets, exhaust manifold gaskets, and valve cover gaskets. Overall unit shipment is likely to experience a marginal growth considering the fact that the market is mature and the overall market is consolidated. The growth of automotive gaskets aftermarket is further restricted due to the advent of electric and hybrid vehicles, which either eliminate or reduces the need for these gasket replacements. Additionally, due to the marginal increase in average price per unit, the revenues will experience a relatively higher growth.Key channel partners in this segment are warehouse distributors and retailers, as the gaskets aftermarket is a heavily Do-It-For-Me market. OES and eRetailers have very marginal shares with respect to this product category, and this scenario is expected to remain the same during the forecast period. As the market is not lucrative, either in terms of size or growth, channel partners do offer any private labeled parts for this product category. All the four product sub-types are expected to have marginal growth due to increasing product durability and the overall engine durability. The major participants are Federal-Mogul, Mahle, and Dana. As this is a mature market with a marginally increasing unit shipment, market shares are expected to diversify due to increasing competition during the forecast period. Improving the factors such as fill rate, product availability, application coverage, and gaining big customer accounts will enable growth.
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