Heavy-duty Automotive Aftermarket Industry: Customer Expectations and Service Delivery

Heavy-duty Automotive Aftermarket Industry Overview

The global Heavy-Duty Automotive Aftermarket Industry was valued at an estimated USD 137.68 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 3.79% from 2023 to 2030. This growth is anticipated to be significantly driven by ongoing technological advancements. Innovations such as the development of connected and autonomous trucks, alongside progress in diagnostic tools, data analytics, and telematics, are becoming increasingly crucial in the heavy-duty automotive aftermarket. These advancements enable superior vehicle monitoring, facilitate predictive maintenance, and lead to more cost-effective repairs, all of which are expected to bolster demand throughout the forecast period.

Furthermore, the growing adoption of electric and hybrid heavy-duty vehicles is carving out a distinct new segment within the aftermarket. Given that electric and hybrid vehicles feature different powertrains and components compared to conventional internal combustion engine (ICE) vehicles, this technological shift generates demand for a new array of aftermarket products. These include essential components such as batteries, electric motors, inverters, and charging infrastructure. The expansion of electric vehicles (EVs) also necessitates the establishment of robust charging infrastructure, encompassing charging stations, cables, and connectors. The aftermarket is playing a vital role in supplying these products and facilitating the installation of charging stations for both commercial and fleet customers.

Detailed Segmentation:

• Replacement Parts Insights

The turbochargers segment is expected to grow at a CAGR of 7.37% from 2023 to 2030. Turbochargers enable engine downsizing, where a smaller-displacement engine is equipped with a turbocharger to deliver the power output of a larger engine. This reduces fuel consumption and emissions while maintaining performance. Furthermore, the segment is crucial for enhancing the fuel efficiency of heavy-duty vehicles. As fuel costs remain a significant operational expense for fleet operators, there’s a growing focus on adopting turbochargers to reduce fuel consumption.

• Vehicle Type Insights

The class 7 to class 8 segment dominated the market with a revenue share of 64.3% in 2022. Stricter emissions regulations are driving the demand for aftermarket emissions control technologies in class 7 to class 8 vehicles. This includes diesel particulate filters (DPFs), selective catalytic reduction (SCR) systems, and exhaust gas recirculation (EGR) components. Moreover, the integration of telematics and fleet management systems is growing in this segment. Fleet operators are using these technologies for vehicle tracking, maintenance scheduling, and route optimization, leading to increased demand for related aftermarket products and services.

• Service Channel Insights

The DiFM segment dominated the market with a revenue share of 69.4% in 2022. The “Do it For Me” (DiFM) segment in the heavy-duty automotive aftermarket is characterized by services and maintenance performed by professional technicians or service providers on behalf of vehicle owners or fleet operators. This segment is essential for those who prefer to outsource vehicle maintenance and repairs rather than doing it themselves. DiFM providers often offer fleet management services that include maintenance scheduling, cost tracking, and compliance management. These services help fleet operators optimize vehicle performance and reduce operational costs.

• Regional Insights

South America is expected to grow at the fastest CAGR of 12.1% from 2023 to 2030.Economic conditions play a significant role in the heavy-duty automotive aftermarket in South America. Economic stability and growth can lead to increased demand for transportation services, which, in turn, drives the demand for heavy-duty vehicles and their aftermarket parts and services. Furthermore, the need for infrastructure development and maintenance in South America, including road construction and improvements, has historically driven the demand for heavy-duty vehicles and their aftermarket components, such as tires, suspension systems, and engine parts.

Gather more insights about the market drivers, restraints, and growth of the Heavy-duty Automotive Aftermarket Market

Key Companies & Market Share Insights

The market is characterized by strong competition, with a few major worldwide competitors owning a significant market share. The major focus is developing new products and collaborating among the key players. In January 2023, Dorian Drake International, Inc. and maximatecc announced a strategic alliance to manage and develop sales of specialty gauges for the aftermarkets in Mexico and South Africa. The alliance will focus on the Stewart-Warner and Datcon brands of maximatecc. Some prominent players in the global heavy-duty automotive aftermarket industry include:

• 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.
• UCI International Inc.

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