Electrical and Electronic Product Demand in the North American Truck Aftermarket to Grow 4.3% Annually Through 2021

Higher underhood temperatures of modern trucks will increase wear on alternators and starters

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Feb 26, 2018, 12:15 ET

CLEVELAND, Feb. 26, 2018 /PRNewswire/ -- 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.

More information about this study is here: https://www.freedoniagroup.com/industry-study/north-american-medium-and-heavy-duty-truck-aftermarket-by-product-and-performer-3601.htm

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.

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.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group