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Marginal Revenue Growth to Drive the Market Over $1 Billion During the Forecast Period
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The North American automotive HVAC components aftermarket is expected to show marginal growth in unit shipment in the coming years. Increase in Vehicles in Operation (VIO), coupled with rising average vehicle age and adverse climatic conditions will be the major drivers for the growth of unit shipment during the forecast period. This study covers eight product sub-types namely compressors, condensers, heater cores, evaporators, radiators, expansion valves, accumulators and receiver driers, and radiator fans and motors. Overall unit shipment will experience marginal growth, considering the fact that the market is mature and the overall market is consolidated. Due to the marginal decline in average price per unit, the revenue will experience relatively lower growth. Key channel partners in this segment are warehouse distributors and retailers, as this product is a heavily Do-It-For-Me (DIFM) market segment. The OES channel has a significant share in certain components and eRetailers have very marginal shares with respect to this product category. The retail channel is expected to gain share marginally from WDs during the forecast period. HVAC components compete primarily on the price factor and a few major channel partners offer parts through their respective private label brands. All the eight product sub-types are expected to have marginal growth due to increasing product durability. The major participants are Spectra Premium, SMP, LKQ, APDI, GPD Omega, UAC, TYC Genera, CSF, Continental Automotive, Dorman Products, and Denso. As this is a mature market with marginally increasing unit shipments, market shares are expected to fluctuate due to increasing competition during the forecast period. Improving on factors such as fill rate, product availability, application coverage, and gaining big customer accounts will enable growth.
This research service covers the Heating Ventilation and Air Conditioning (HVAC) components aftermarket for Class 1-3 vehicles in terms of volume (in million units) and value ($ Million) across the United States and Canada. It discuss about unit shipment, revenue average price, distribution channel share, and market share. The base year for analysis is 2017 and the forecast period is 2018 to 2024.
The following are the key forecast that this study will provide:
Author: Vasanth Raj
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