The Growth of the E-Commerce Industry to Expand Heavy-Duty Automotive Aftermarket Market
The global heavy-duty automotive aftermarket market, on the basis of type, has been divided into class 4 to class 6 and class 7 and class 8.
By application, the segments of the heavy-duty automotive aftermarket market are – DIY, OE Seller, and DIFM.
The regional segments of the global heavy-duty automotive aftermarket market span across – Europe, India, North America, China, Southeast Asia, and Japan. Europe is presumed to expand at a moderate pace owing to the developed technological infrastructure of the automotive industry in the region. The developed economies in the region, such as Germany, France, etc. are expected to lead the growth of the heavy-duty automotive aftermarket market in the nearby future. Although the market is likely to get slightly affected by Brexit, the overall influence on the expansion of the heavy-duty automotive aftermarket market is poised to remain positive over the next couple of years.
North America and Southeast Asia are also prognosticated to witness growth of the heavy-duty automotive aftermarket market in the foreseeable future. China is assessed to emerge as a key region of the global heavy-duty automotive aftermarket market in the nearby future.
Increasing demand for autonomous trucks is anticipated to propel the proliferation of the global heavy-duty automotive aftermarket market in the forthcoming years. In addition, the investments in the modernization, re-manufacturing, and replacement of components are anticipated to lead the expansion of the heavy-duty automotive aftermarket market towards growth curve over the next couple of years. Increasing popularity of the e-commerce platform is also presumed to expedite expansion of the heavy-duty automotive aftermarket market in the nearby future. It ensures a lucrative future trajectory for the market players in the years to come.
Digitization is also poised to play a developmental role in the growth of the heavy-duty automotive aftermarket market. Increasing the use of IoT is anticipated to have a positive influence on the expansion of the global market. In addition, new players are assessed to enter the heavy-duty automotive aftermarket market in the upcoming years.
The major manufacturers covered in this report
3M Company, ATC Technology Corp, Continental AG, Denso Corporation, Detroit Diesel Corporation, Dorian Drake International, Dorman Products, Federal-Mogul LLC, Instrument Sales and Service, Remy International, UCI International
Heavy-duty automotive aftermarket is the secondary market in the automotive industry that deals with manufacturing, re-manufacturing, distribution, etc. In this report, it has been assessed that the global heavy-duty automotive aftermarket market is anticipated to register a moderate pace of growth during the forecast period. In addition, the valuation of the market is also estimated to reach a decent mark by the close of the evaluation period. A detailed report on the assessment of the past trends, current status, share analysis, and key developments highlight that the global heavy-duty automotive aftermarket market is set to witness considerable growth in the foreseeable future.
In October 2019, Covenant Transportation has announced the deployment of the first Level 2 autonomous trucks.
In September 2019, the automaker Daimler, after years of testing, has announced that its latest Level 4 autonomous truck will be hitting the roads of Virginia. The truck will use the most recent system developed by the company – Asimov.
Major Key Points in Table of Content:
1 Industry Overview
2 Manufacturing Cost Structure Analysis
3 Development and Manufacturing Plants Analysis
4 Key Figures of Major Manufacturers
5 Regional Market Analysis
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