Double digit replacement growth for commercial vehicle parts aftermarket

The story all over the pandemic all tied back to substance
shortages in several industries which include the business automobile
industry. These shortages led to larger fees in inputs, labor, and
logistics simply because inventory was fatigued. New vehicle manufacturing
shortages had a domino outcome on current cars in operation.
Course 5 motor vehicles on the road rose 8% from 2019-21 and class 8
vehicles rose 3% through that very same interval. General, we saw a 5%
boost for all cars on the highway from 2019-21 resulting in
pretty much 16.5 million course 3-8 cars on the highway at the close of
2021. Considering that fleets were not able to change older automobiles, we observed an
enhance in the regular age by 5% for equally class 7 and course 8

Amplified VIO and the typical age of commercial autos have
led to substantial increases in replacement components income for the
professional car or truck sector around the past couple many years. S&P Global
Mobility (formerly IHS Markit | Automotive) tracks aftermarket
components substitution for around 95 elements frequent to the professional
auto field. We are observing double digit quantity increases for
exhaust, steering, filters, and braking from 2019 to 2021. Throughout
all 95 elements that S&P International Mobility tracks there was $12.6
billion in replacement revenue and $5.7 billion in remanufactured
earnings for 2021.

As we proceed to offer with vehicle shortages we will continue on
to see more mature vehicles on the street which will guide to previously mentioned regular
desire for replacement elements.

S&P Worldwide Mobility track’s replacement for a lot more than 95
parts typical to the industrial automobile industry.

Obtain the top rated-5 replacements
elements for just about every class of commercial automobiles

Understand additional about our Business
Motor vehicle Aftermarket Parts Option.

For a deeper dive into all 95 alternative components and attributes
(amount, income, geography, vocation, GVW, fleet names) call
us [email protected]


Posted 24 May well 2022 by Mark Hazel, Associate Director, Product Administration – Business Car or truck Reporting IHS Markit&#13


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