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Manufacturer-level Revenue to Approach $100 Billion in 2019 Across 20 Key Markets
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The global commercial vehicles aftermarket is a large, but overlooked industry. Across the world, the average company spends nearly $5,000 a year on maintenance and repair parts for just one commercial truck, compared to less than $1,000 that a consumer spends for a passenger vehicle. The aim of this study is to identify the size of the global commercial vehicle parts and services aftermarket, and its growth opportunities in 2019. Commercial vehicles include medium and heavy-duty on-road trucks. Revenue includes parts only and excludes service. All revenue is measured at the manufacturer level and is expressed in US dollars. This research is the culmination of the work of Frost & Sullivan analysts located in regions throughout the world. Frost & Sullivan analysts have used multiple sources and statistical analysis in markets where information is missing to increase the confidence level of the research findings. Revenue is presented at the manufacturer, distributor and end-user levels. Covered markets include the United States, Canada, Mexico, Brazil, Argentina, the United Kingdom, Germany, France, Italy, Spain, Russia, Turkey, Saudi Arabia, South Africa, India, Japan, Thailand, Australia, Taiwan, and China. The research covers the impact of connected trucks on vehicle maintenance. This includes the penetration of truck telematics by region as well as an analysis of services offered. Other findings include results from a survey of fleets on the factors that most influence the purchase of telematics services such as prognostics and remote vehicle diagnostics. Respondents were also asked for which vehicle systems they would most like to access telematics data for the purposes of reducing truck maintenance costs. Growth opportunities and companies to action are covered as well. The research includes a global economic outlook with top trends for 2018 and predictions for 2019, as well as analysis of fastest-growing markets. It identifies the main factors that will influence the size of the global commercial vehicle aftermarket, as well as how the industry outlook varies from region to region. The findings cover developments in the global commercial vehicle aftermarket in 2018 that will have an impact during 2019. Data sources include primary and secondary research, existing Frost & Sullivan studies, statistical modeling and analysis. Other exhibits include spend per vehicle and market attractiveness analyses. To determine market attractiveness, Frost & Sullivan has analyzed each of the 20 countries for their growth outlook, barriers to entry, and economic competitiveness. The research ends with key conclusions and the future outlook.Author: Stephen Spivey
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