CLEVELAND, March 23, 2017 /PRNewswire/ -- The US dominates the North American automotive aftermarket for powertrain components, accounting for 86% of overall sales, or $10.3 billion, in 2016. Through 2021, US aftermarket demand for engine, transmission, and drivetrain components will rise 1.6% per year, a slight uptick from the 2011-2016 period but trailing advances in the smaller Canadian and Mexican markets. These and other trends are presented in Automotive Aftermarket in Powertrain Components in North America, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Factors promoting aftermarket sales of powertrain components in the US include:
- increases in the size and the average age of the light vehicle park, the latter of which stood at 11.4 years in 2016
- climatic extremes, including snow in some regions and heat in others
- technological improvements, such as the incorporation of computers and sensors, that raise the average per-unit cost of repairs and replacements
- growth in the total number of light vehicles involved in accidents
Sales growth will be restrained by:
- technological improvements that reduce the frequency of maintenance and replacement intervals
- increased reliability and durability of many powertrain components
More information about the study is available at http://www.freedoniagroup.com/industry-study/automotive-aftermarket-for-powertrain-components-in-north-america-by-product-engine-transmission-and-drivetrain-and-performer-3505.htm
Related studies include:
- #3480 Gasket & Seal Market in the US, 12th edition (December 2016)
- #3458 Rechargeable (Secondary) Batteries (September 2016)
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Automotive & Transport studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group