North American Heavy Duty Parts Outlook | 2022



As we close in on two years of a global pandemic and a supply
chain shortage that has drastically cut commercial vehicle
production, we are still seeing an increase of vehicles on the road
and positive new registration trends in the commercial vehicle
industry for GVW 3-8. Vehicles in operation (VIO) for GVW 3-8 has
increased 9% since 2018 and new registrations for the same weight
classes have increased 10% over the same period.

With the increasing trends of new registration and VIO we will
continue to see an increase in demand for replacement parts. The
chip shortage has caused the average age of a vehicles on the road
to increase in parallel with replacement part demand. IHS Markit’s
Aftermarket Parts Demand takes VIO data from TIPNet accompanied
with expert analysis to show the demand for 12 parts categories and
95 parts for GVW’s 3-8.

Our latest Aftermarket Parts Demand update shows engine parts
and oil demand have risen 5% from 2018. Exhaust and steering parts
have seen double digit growth during that same time at 12%. Filter
replacements have increased 10%, and brake demand has also grown at
16%. Understanding the parts market is crucial for suppliers and
distributers alike to know how many parts need to be produced and
ideal inventory levels.




Posted 29 October 2021 by Mark Hazel, Associate Director, Product Management – Commercial Vehicle Reporting IHS Markit

Admin

The smell of the leather seats, the sound of the throttle, and even light from outside—all affect your state of mind. That’s what makes a good car great.

Leave a Reply