US Dominates Aftermarket in North America
March 24, 2017—According to Automotive Aftermarket in Powertrain Components in North America, a new study from The Freedonia Group, the U.S. dominates the North American automotive aftermarket for powertrain components, accounting for 86 percent of overall sales, or $10.3 billion, in 2016.
Through 2021, US aftermarket demand for engine, transmission, and drivetrain components will rise 1.6 percent per year, a slight uptick from 2011-2016 period.
Factors promoting aftermarket sales of powertrain components in the US include:
- increases in the size and the average age of the light vehicle park, the latter of which stood at 11.4 years in 2016
- climatic extremes, including snow in some regions and heat in others
- technological improvements, such as the incorporation of computers and sensors, that raise the average per-unit cost of repairs and replacements
- growth in the total number of light vehicles involved in accidents
Sales growth will be restrained by:
- technological improvements that reduce the frequency of maintenance and replacement intervals
- increased reliability and durability of many powertrain components
More information on the study is available here.