Electrical and Electronic Product Demand in the North American Truck Aftermarket to Grow 4.3% Annually Through 2021
February 26, 2018 (Investorideas.com Newswire) The North American truck aftermarket for electrical and electronic products will expand 4.3% per annum through 2021 to US$8.6 billion. Sales are nearly evenly split between the two major product segments: electrical and electronic. Government regulation of proper lighting protocol and vehicle idling will boost replacement demand and associated dollar gains. This and other trends are presented in North American Medium- & Heavy-Duty Truck Aftermarket, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Sales will be fueled by:
- growth in the size and age of the medium- and heavy-duty vehicle park in the region
- growing proliferation of anti-idling laws, which increase the number of starts per long-haul truck, increasing wear on batteries and charging and starting equipment and boosting demand for auxiliary power units (APUs)
- higher underhood temperatures of modern trucks, increasing wear on products such as alternators and starters
- trends toward the use of higher-value products such as LED lights and absorbent glass mat (AGM) batteries
Aftermarket demand for all types of medium- and heavy-duty truck components in North America is forecast to expand 3.5% per year through 2021, accelerating from the slower growth posted between 2011 and 2016, when a drop in the value of the Mexican peso and Canadian dollar dampened regional market gains in US dollar terms.
The US, home to two-thirds of the region's total medium- and heavy-duty truck stock, will account for over half of regional medium- and heavy-duty truck aftermarket sales gains through 2021. Demand gains in Mexico will outpace those in the US and Canada due, in part, to double-digit growth in class 8 vehicle sales in Mexico since 2014, boosting the size of Mexico's medium- and heavy-duty truck park.
North American Medium- & Heavy-Duty Truck Aftermarket (published 2/2018, 244 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
#3578 North America Automotive Aftermarket Competitor Analysis (11/17)
#3577 North America Automotive Aftermarket, 8th Edition (11/17)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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