Global Medium/Heavy Commercial Vehicle Aftermarket Outlook, 2021

Global Medium/Heavy Commercial Vehicle Aftermarket Outlook, 2021

Average Miles Driven and Spend Per Vehicle to Rise Sharply, Resulting in Transformational Growth

RELEASE DATE
09-Sep-2021
REGION
Global
Research Code: K689-01-00-00-00
SKU: AU02225-GL-MO_25766
$4,950.00
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Description

The COVID-19 pandemic has affected industries worldwide, but few felt it as directly as the global commercial vehicles aftermarket. The collapse of economic activity in many regions reduced the number of trucks on the road and average miles driven. It also has caused a skilled labor shortage of truck drivers, repair technicians, and other workers needed to keep the aftermarket industry thriving. The aim of this study is to identify the size of the global medium/heavy commercial vehicle aftermarket, and its growth opportunities in 2021, given the unique challenges posed by the pandemic recovery. Commercial vehicles include medium- and heavy-duty on-road trucks. Revenue includes parts only and excludes service. Revenue is measured at the manufacturer level and is expressed in US dollars. This research is the culmination of the work of Frost & Sullivan’s analysts located all over the world. Frost & Sullivan’s 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. The markets covered are 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. Growth opportunities and companies to action are covered as well. The research includes a global economic outlook with top trends for 2020 and predictions for 2021, as well as analysis of the COVID-19 pandemic on each region. 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 2020 that will have an impact on the market in 2021. 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 outlook for 2021.

Author: Stephen Spivey

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Global Medium/Heavy Commercial Vehicles Aftermarket

Growth Opportunities Fuel the Growth Pipeline Engine™

The 2020 Global Medium/Heavy Commercial Vehicles Aftermarket— Actuals vs. Forecast

Global Medium/Heavy Commercial Vehicles Aftermarket Replacement Parts and Accessories Revenue, 2019–2025

2020 Spend Per Vehicle Analysis

2020 in Numbers—Key Highlights

2020 in Trends—Key Highlights

2021 in Numbers—Key Predictions

2021 in Trends—Key Predictions

Challenges Faced by the Global Medium/Heavy Commercial Vehicles Aftermarket Industry Due to COVID-19 in 2020

Impact of COVID-19 on Key Regions/Recovery

Research Scope

Geographic Scope

Research Aims and Objectives

Key Questions this Study will Answer

Data Sources

Research Process

COVID-19 Impact on World GDP Growth

Global Growth Scenario Analysis—Assumptions

World GDP Growth Under Differing Scenarios

COVID-19 Impact on Key Regions

Global Medium and Heavy-duty Vehicles in Operation

2020–2021 Manufacturer-level Revenue and Spend Per Vehicle by Region

Revenue by Parts Type

2020 Spend Per Vehicle Analysis

Global Average Annual Miles Driven—2020 and 2021

Global Distribution Channel Analysis

Key Trends in the Global Commercial Trucks Aftermarket

Trend 1—Growing Installation Rates for Connected Truck Telematics

Trend 2—Traction of Online Parts Sales and eRetailing Platforms in the Wake of the COVID-19 Pandemic

Trend 3—Rapid Expansion Mobile-on-demand Service Models in the Wake of the COVID-19 Pandemic

Trend 4—Increasing Vehicles in Operation and Miles Driven

Key Mergers and Acquisitions, 2020

Key Policies and Regulations, 2020

Key 2021 Global Medium/Heavy Commercial Vehicles Aftermarket Market Trends

Prediction 1—New Products and Services for Medium-duty e-trucks are on the Way

Prediction 2—Production of Heavy-duty Trucks with Manual Transmissions will Be Discontinued

Prediction 3—Online Parts Sales will Grow 20% Annually Over the Next Five Years

Regional Outlook—North America

North America Aftermarket Dashboard

Aftermarket Outlook—Revenue by Parts Type

VIO Ownership Pattern

Vehicles in Operation Model Mix—North America

Distribution Channel Analysis

Medium/Heavy Commercial Vehicle Aftermarket Opportunity Areas

Regional Outlook—Europe

Europe—Aftermarket Dashboard

Aftermarket Outlook—Revenue by Parts Type

VIO Ownership Pattern

Vehicles in Operation Model Mix—Europe

Distribution Channel Analysis

Medium/Heavy Commercial Vehicle Aftermarket Opportunity Areas

Regional Outlook—Latin America

Latin America Aftermarket Dashboard

Aftermarket Outlook—Revenue by Parts Type

VIO Ownership Pattern

Vehicles in Operation Model Mix

Distribution Channel Analysis

Medium/Heavy Commercial Vehicle Aftermarket Opportunity Areas

Regional Outlook

Aftermarket Dashboard

Aftermarket Outlook—Revenue by Parts Type

VIO Ownership Pattern

Vehicles in Operation Model Mix

Distribution Channel Analysis

Medium/Heavy Commercial Vehicle Aftermarket Opportunity Areas

Regional Outlook

Aftermarket Dashboard

Aftermarket Outlook—Revenue by Parts Type

VIO Ownership Pattern

Vehicles in Operation Model Mix

Distribution Channel Analysis

Medium/Heavy Commercial Vehicle Aftermarket Opportunity Areas

Growth Opportunity 1: Private Labeling for Greater Market Share in New Product Category

Growth Opportunity 1: Private Labeling for Greater Market Share in New Product Category (continued)

Growth Opportunity 2: Brand Licensing for Customer Recognition

Growth Opportunity 2: Brand Licensing for Customer Recognition (continued)

Growth Opportunity 3: Direct Importing for Lower Product Acquisition and Distribution Costs

Growth Opportunity 3: Direct Importing for Lower Product Acquisition and Distribution Costs (continued)

Growth Opportunity 4: Specialization in Niche Products/Services for Maximum Profitability

Growth Opportunity 4: Specialization in Niche Products/Services for Maximum Profitability (continued)

Growth Opportunity 5: Joint Ventures for Overseas Manufacturing and Quality Assurance

Growth Opportunity 5: Joint Ventures for Overseas Manufacturing and Quality Assurance (continued)

Key Conclusions and Future Outlook

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

2020 Planned Research—Commercial Vehicle Aftermarket

Related Research
The COVID-19 pandemic has affected industries worldwide, but few felt it as directly as the global commercial vehicles aftermarket. The collapse of economic activity in many regions reduced the number of trucks on the road and average miles driven. It also has caused a skilled labor shortage of truck drivers, repair technicians, and other workers needed to keep the aftermarket industry thriving. The aim of this study is to identify the size of the global medium/heavy commercial vehicle aftermarket, and its growth opportunities in 2021, given the unique challenges posed by the pandemic recovery. Commercial vehicles include medium- and heavy-duty on-road trucks. Revenue includes parts only and excludes service. Revenue is measured at the manufacturer level and is expressed in US dollars. This research is the culmination of the work of Frost & Sullivans analysts located all over the world. Frost & Sullivans 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. The markets covered are 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. Growth opportunities and companies to action are covered as well. The research includes a global economic outlook with top trends for 2020 and predictions for 2021, as well as analysis of the COVID-19 pandemic on each region. 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 2020 that will have an impact on the market in 2021. 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 outlook for 2021. Author: Stephen Spivey
More Information
No Index No
Podcast No
Predecessor K472-01-00-00-00
Author Stephen Spivey
Industries Automotive
WIP Number K689-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9801-A6,9963-A6