Double digit replacement growth for commercial vehicle parts aftermarket

Double digit replacement growth for commercial vehicle parts aftermarket


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The story all through the pandemic all tied back to material
shortages in several industries which includes the commercial car or truck
sector. These shortages led to better fees in inputs, labor, and
logistics mainly because stock was fatigued. New vehicle production
shortages had a domino influence on present-day autos in procedure.
Course 5 cars on the road rose 8% from 2019-21 and class 8
autos rose 3% during that same time period. In general, we observed a 5%
raise for all automobiles on the road from 2019-21 ensuing in
practically 16.5 million class 3-8 vehicles on the highway at the end of
2021. Given that fleets have been not able to swap older cars, we observed an
improve in the regular age by 5% for the two course 7 and course 8
automobiles.

Improved VIO and the regular age of professional vehicles have
led to big improves in substitution parts earnings for the
industrial motor vehicle business above the past few decades. S&P World-wide
Mobility (formerly IHS Markit | Automotive) tracks aftermarket
sections substitute for more than 95 areas widespread to the business
car or truck sector. We are looking at double digit quantity improves for
exhaust, steering, filters, and braking from 2019 to 2021. Across
all 95 components that S&P Worldwide Mobility tracks there was $12.6
billion in substitute revenue and $5.7 billion in remanufactured
revenue for 2021.

As we proceed to offer with car shortages we will continue
to see more mature vehicles on the street which will lead to higher than ordinary
demand for substitute components.

S&P World Mobility track’s alternative for a lot more than 95
pieces widespread to the professional car business.

Download the top-5 replacements
pieces for each course of industrial cars

Find out extra about our Commercial
Car Aftermarket Components Remedy.

For a further dive into all 95 replacement components and attributes
(amount, revenue, geography, vocation, GVW, fleet names) speak to
us [email protected]

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Posted 24 May possibly 2022 by Mark Hazel, Affiliate Director, Product Management – Professional Motor vehicle Reporting IHS Markit&#13
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This post was released by S&P World-wide Mobility and not by S&P Worldwide Rankings, which is a individually managed division of S&P World.



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