Global Medium/Heavy Commercial Vehicle Aftermarket Outlook 2021: Average Miles Driven and Spend Per Vehicle to Rise Sharply, Resulting in Transformational Growth

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Oct 04, 2021, 14:15 ET

DUBLIN, Oct. 4, 2021 /PRNewswire/ -- The "Global Medium/Heavy Commercial Vehicle Aftermarket Outlook, 2021" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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 analysts located all over the world.

The 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 an 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 studies, statistical modeling, and analysis.

Other exhibits include spending per vehicle and market attractiveness analyses. To determine market attractiveness, the analyst 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.

Key Topics Covered:

1. The Strategic Imperative

Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top Three Strategic Imperatives on the Global Medium/Heavy Commercial Vehicles Aftermarket
Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Environment

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

3. Research Scope and Objectives

Research Scope
Geographic Scope
Research Aims and Objectives
Key Questions this Study will Answer

4. Methodology

5. Macroeconomic Factors Impacting Global Medium/Heavy Commercial Vehicles Aftermarket

COVID-19 Impact on World GDP Growth
Global Growth Scenario Analysis - Assumptions
World GDP Growth Under Differing Scenarios
COVID-19 Impact on Key Regions

6. Industry Outlook - Global Medium/Heavy Commercial Vehicle Aftermarket

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

7. Key Predictions for 2021

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

8. Industry Outlook - North America

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

9. Industry Outlook - Europe

10. Industry Outlook - Latin America

11. Industry Outlook - Asia-Pacific

12. Industry Outlook - Saudi Arabia and South Africa

13. Growth Opportunities Universe

Growth Opportunity 1: Private Labeling for Greater Market Share in New Product Category
Growth Opportunity 2: Brand Licensing for Customer Recognition
Growth Opportunity 3: Direct Importing for Lower Product Acquisition and Distribution Costs
Growth Opportunity 4: Specialization in Niche Products/Services for Maximum Profitability
Growth Opportunity 5: Joint Ventures for Overseas Manufacturing and Quality Assurance

14. Key Conclusions and Future Outlook

For more information about this report visit https://www.researchandmarkets.com/r/1ty61s

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