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Market Study Report presents latest report on global Heavy-Duty Automotive Aftermarket Market, which evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2021-2027.
Market Analysis and Insights: Global Heavy-Duty Automotive Aftermarket Market
The global Heavy-Duty Automotive Aftermarket market size is projected to reach US$ 168460 million by 2027, from US$ 117160 million in 2020, at a CAGR of 5.3% during 2021-2027.
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The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories.
Asia Pacific emerged as the leading regional market in terms of revenue in 2019. Rise in number of trucks in developing nations such as China and India is expected to drive demand for aftermarket components over the forecast period. China is the largest consumption region with a share of 33.2% in 2019.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Heavy-Duty Automotive Aftermarket market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Heavy-Duty Automotive Aftermarket market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Heavy-Duty Automotive Aftermarket market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Heavy-Duty Automotive Aftermarket market.
Geographically, the Heavy-Duty Automotive Aftermarket market report concentrates on elaborating the growth prospects of the marketplace spanning numerous regions across the globe. A detailed evaluation of the competitive trends has also been provided, enabling shareholders to leverage the best of information delivered, in order to take informed decisions. Say for example, the report retains focus on the parameters such as the ex-factory price, production capacity, etc.
How extensively has the industry been segmented in terms of the product and application landscapes?
- The report encompasses a generic outline of the Heavy-Duty Automotive Aftermarket market with respect to the product types as well as applications.
- The product landscape, as claimed by the report, is classified into the type such as Class 4 to Class 6, Class 7 and Class 8 and The segment of class 7 and class 8 dominated the market with a share of 70.5% in 2021 and is expected to retain its dominance through 2026.
- The report not only features extensive information with respect to the valuation held by every product, but also elaborates on the price models and the production volume.
- Considering the application terrain, the report effectively categorizes the same into DIY, OE Seller, DIFM, On the basis of service channel, the market has been segmented into do it yourself (DIY), do it for me (DIFM), and original equipment (OE) seller. The DIFM segment dominated the market with a share of 75.2% in 2021 and is expected hold a majority share over the forecast period.
- The study delivers expansive details regarding the segment, particularly focusing on the product consumption with respect to every application sector.
- Also, the remuneration accrued by every application segment has been provided in the report, alongside the consumption market share.
- Not to mention, the consumption growth rate of every application has also been provided, enabling the consumer to better understand the growth path of the application in question.
The competitive spectrum holds a pivotal position in the Heavy-Duty Automotive Aftermarket market, given that it is bound to help emerging entrants and prospective shareholders decide on the possibilities of penetrating the industry at the opportune time. The details of the competitive landscape outlined in this report are likely to provide an analysis of the prominent industry vendors, their growth profiles, strategies and tactics, etc., that would help investors in decision-making.
As per the report, the Heavy-Duty Automotive Aftermarket market is segmented into:
- 3M Company
with respect to the competitive spectrum. The study includes elaborate details regarding these companies, including the market share that each firm accounts for in the industry and the production capacity.
Some other pivotal details include a brief overview of the firm – generic outline, product description, present valuation and standing in the industry, etc.
A detailed cover-up of the regional landscapes of the Heavy-Duty Automotive Aftermarket market:
- The study extensively elaborates on the geographical expanse of the Heavy-Duty Automotive Aftermarket market, spanning zones such as United States, China, Europe, Japan, Southeast Asia & India.
- The market share that each region holds, alongside the growth prospects of the region, in consort with the growth rate that every topography is projected to register over the forecast period have been delivered in the Heavy-Duty Automotive Aftermarket market report.
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