Study predicts slight growth in heavy-duty aftermarket
Dec 1, 2003 12:00 PM
The Automotive Market Research Council (AMRC) released details of its first-ever Heavy Duty Aftermarket Study during the organization's Fall 2003 Conference.This study indicated slight but positive sales growth in all major product categories, contributing to a 0.9% increase in the United States heavy-duty replacement parts market during 2003. Growth will remain modest at 1% per year through 2005.
This forecast summarized survey data from AMRC member and non-member companies that manufacture parts for the heavy-duty aftermarket. It was prepared with and completed by TLG Research (414-302-1740).
Product line results of the survey were summarized in nine categories, including undervehicle (brake, drivetrain, exhaust, steering, and suspension systems), underhood (engine, electrical, fuel, and heating/cooling systems), chemicals (oil and antifreeze), accessories, and more. Survey data also covered macro trends that drive overall heavy-duty market demand.
Results of the survey for 2003 and future years in key product categories support the overall scenario of slight but still positive market growth.
Leading market factors for 2003 include an improving economy, which increases parts demand due to more vehicle use and miles driven. Factors holding down replacement parts demand include improved product quality and extended maintenance cycles. The net result is expected to be a 0.9% increase in heavy-duty aftermarket parts sales in 2003, with estimated growth of 1.0% annually in 2004 and 2005. For more information on the study, phone Mark Kahane at 610-709-3161.
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