North American Medium- and Heavy-Duty Truck Aftermarket by Product and Performer

Report Overview

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Growing Size and Age of Medium- & Heavy-Duty Truck Stock, More Stringent Regulations to Boost Aftermarket Sales

Aftermarket demand for medium- and heavy-duty truck components in North America is forecast to accelerate from the slower growth posted between 2011 and 2016 as the Mexican and Canadian markets rebound. Sales will be promoted by:

• growth in the size and average age of the regional truck park
• gains in the average number of miles driven annually, which increases component wear
• increasingly stringent emissions, vehicle idling, and hazardous materials regulations, particularly in the US and Canada, which boost the number, complexity, and value of many components
• strong established transcontinental and international long-haul trucking commerce

Market advances, however, will be restrained by:

• lower costs associated with remanufactured components
• continuation of the current shortage of drivers, which limits the number of vehicles driven and the average miles driven annually, across the region
• competition from low-cost imports
• improvements in product materials and design that lengthen the useful lifespan and increase the durability of components

Key Findings in the Medium- & Heavy-Duty Truck Aftermarket Study:

US to See Largest Net Gains through 2021; Mexico Fastest Growth

The US, which is 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 will be spurred by increasingly stringent emissions, hazardous materials, and anti-idling laws, as well as lightweighting efforts that boost the rate at which certain components wear.

Demand gains in Mexico will outpace those in the US and Canada due 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
• the comparatively advanced average truck age
• poor fuel quality and the practice among some of adding water to the fuel, which has an adverse effect on the lifespan of many components
• a dearth of anti-idling laws, which enables Mexican long-haul drivers to put in more hours per week, increasing the mileage on these vehicles

Electrical and Electronic Products to Post Fastest Gains through 2021

Mechanical products and electrical and electronic components together accounted for over 90% of North American truck aftermarket demand in 2016. Electrical and electronic component aftermarket sales will advance at the fastest rate through 2021, buoyed by increasingly stringent emissions, fuel economy, and vehicle idling legislation, as well as the high per-unit costs of many products in this category.

Study Coverage

This study presents historical demand data (2006, 2011, and 2016) and forecasts for 2021 by product category (mechanical, electrical & electronic, and exterior & structural), country (US, Canada, Mexico), and performer (in-house and outsourced). The study also evaluates company market share and provides an analysis of key competitors including ArvinMeritor, Caterpillar, Cummins, Daimler, Dana, East Penn, Eaton, Exide, Johnson Controls, MANN+HUMMEL, Navistar, and Volvo.

This study analyzes the North American aftermarket for medium- and heavy-duty truck components. The aftermarket represents parts and components installed after the vehicle has left the factory. All product sales figures provided in this report are given at the manufacturers’ level and do not include wholesale or retail mark-ups or installation costs. However, remanufactured and rebuilt components are included in the scope of this report.

In this study, North America comprises the United States, Canada, and Mexico.

Medium- and heavy-duty trucks include class 4 through 8 trucks. Buses, recreational vehicles, and off-road trucks used in applications such as mining and construction are excluded. Also excluded are application-specific components for specialty vehicles (e.g., cement trucks, refuse haulers, tow trucks, car carriers, fire trucks, ambulances); however, the general-purpose products used in these vehicles (e.g., filters, engine components) are included.

Among the products that are excluded from the scope of this study are:

• chemical products (e.g., motor oil, windshield washer fluid, etc.)
• tires
• trim and other decorative items
• add-on vehicle accessories, such as car seats, trailer hitches, and special body panels

To distinguish between parts that are produced by the original equipment manufacturer and those that are made by other companies, many automotive parts suppliers label the former as “OEM parts” or “OEM replacement parts”, while the latter are often referred to as “aftermarket parts”. In addition, parts made by a vehicle manufacturer’s OEM component supplier that are installed by dealer repair departments are sometimes referred to as original equipment service or original equipment supplier (OES) parts. For the purposes of this report, OEM replacement parts, OES parts, and aftermarket parts are all included in the automotive aftermarket, as long as these parts are utilized to repair or upgrade medium- and heavy-duty trucks in use.

Furthermore, sales are attributed to the final purchaser, rather than the installer. Thus, a component purchased by a fleet owner or owner operator but installed by a third party is considered to be a fleet owner or owner operator sale.

Aftermarket demand for medium- and heavy-duty truck components is examined by product category and segment, country, and major aftermarket service performer in US dollars.

Historical data for 2006, 2011, and 2016 and forecasts for 2021 are presented in current US dollars. Historical data is adjusted to account for fluctuations in exchange rates; forecasts are thus not adjusted.