June 27, 2022

Vehicle Definition

Comfortable Vehicle

Double digit replacement growth for commercial vehicle parts aftermarket

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The story throughout the pandemic all tied again to materials
shortages in various industries which include the industrial motor vehicle
sector. Individuals shortages led to higher expenses in inputs, labor, and
logistics because stock was exhausted. New car or truck generation
shortages had a domino result on existing cars in operation.
Class 5 motor vehicles on the street rose 8% from 2019-21 and class 8
autos rose 3% through that similar time period. All round, we saw a 5%
improve for all vehicles on the highway from 2019-21 resulting in
pretty much 16.5 million class 3-8 cars on the highway at the conclude of
2021. Since fleets had been not able to swap older automobiles, we saw an
increase in the typical age by 5% for both equally course 7 and course 8
motor vehicles.

Amplified VIO and the ordinary age of business vehicles have
led to large boosts in alternative parts profits for the
industrial car or truck industry about the earlier few several years. S&P World wide
Mobility (previously IHS Markit | Automotive) tracks aftermarket
sections alternative for over 95 elements common to the business
automobile industry. We are viewing double digit quantity increases for
exhaust, steering, filters, and braking from 2019 to 2021. Across
all 95 pieces that S&P World-wide Mobility tracks there was $12.6
billion in substitution earnings and $5.7 billion in remanufactured
revenue for 2021.

As we continue on to deal with automobile shortages we will continue
to see older cars on the road which will guide to over ordinary
demand for replacement parts.

S&P World-wide Mobility track’s substitute for more than 95
pieces typical to the professional car or truck field.

Down load the leading-5 replacements
parts for every single course of commercial autos

Understand additional about our Commercial
Car or truck Aftermarket Elements Remedy.

For a further dive into all 95 alternative components and characteristics
(amount, revenue, geography, vocation, GVW, fleet names) get hold of
us [email protected]

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Posted 24 May 2022 by Mark Hazel, Affiliate Director, Merchandise Administration – Business Car or truck Reporting IHS Markit&#13
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This report was published by S&P World Mobility and not by S&P World Rankings, which is a independently managed division of S&P World-wide.