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Double digit replacement growth for commercial vehicle parts aftermarket

Double digit replacement growth for commercial vehicle parts aftermarket


The story throughout the pandemic all tied back again to product
shortages in a lot of industries including the industrial auto
marketplace. All those shortages led to higher expenses in inputs, labor, and
logistics for the reason that inventory was fatigued. New car or truck production
shortages experienced a domino effect on current automobiles in procedure.
Course 5 automobiles on the road rose 8% from 2019-21 and course 8
automobiles rose 3% during that exact same period. Over-all, we noticed a 5%
increase for all autos on the highway from 2019-21 ensuing in
almost 16.5 million class 3-8 autos on the street at the conclusion of
2021. Since fleets were being not able to swap more mature motor vehicles, we observed an
maximize in the ordinary age by 5% for both equally course 7 and course 8
motor vehicles.

Double digit replacement growth for commercial vehicle parts aftermarket

Greater VIO and the average age of business autos have
led to big boosts in substitute parts profits for the
business motor vehicle field in excess of the past several a long time. S&P Worldwide
Mobility (previously IHS Markit | Automotive) tracks aftermarket
sections alternative for in excess of 95 areas widespread to the professional
car or truck market. We are observing double digit volume will increase for
exhaust, steering, filters, and braking from 2019 to 2021. Throughout
all 95 areas that S&P Global Mobility tracks there was $12.6
billion in substitute revenue and $5.7 billion in remanufactured
profits for 2021.

As we continue on to offer with automobile shortages we will carry on
to see more mature autos on the street which will lead to previously mentioned normal
need for substitution components.

S&P World wide Mobility track’s replacement for much more than 95
pieces widespread to the professional car industry.

Download the top-5 replacements
areas for each individual class of professional motor vehicles

Find out additional about our Professional
Car Aftermarket Parts Option.

For a deeper dive into all 95 substitute pieces and attributes
(quantity, income, geography, vocation, GVW, fleet names) get hold of
us [email protected]


Posted 24 May possibly 2022 by Mark Hazel, Associate Director, Solution Administration – Commercial Automobile Reporting IHS Markit&#13


This short article was posted by S&P International Mobility and not by S&P World wide Ratings, which is a individually managed division of S&P World wide.