Dublin, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The "Truck Repair in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Revenue has been falling at a CAGR of 2.1% to $13.7 billion over the past five years, stabilizing with 0.1% growth in 2023 alone.
Truck repair shops faced significant challenges in recent years, primarily due to the impact of the COVID-19 pandemic. When the pandemic hit, there was a sharp decline in demand for repair services as economic activity slowed down, and many companies postponed spending on truck repairs. This trend persisted for a while, as reduced business activity led to less wear and tear on existing truck fleets.
However, as pandemic-related restrictions eased, the freight transportation services index started to rise steadily, indicating an increase in trucking activity and the subsequent need for truck maintenance and repairs. While this resurgence in trucking activity helped stabilize the industry, it wasn't enough to fully offset the losses incurred during the peak of the pandemic.
One of the ongoing challenges for truck repair shops is heightened competition from various sources. Truck dealerships have been expanding their service offerings, making them formidable competitors. Additionally, warranties often require truck owners to return to the dealership for repairs, further eroding the market share of independent repair shops.
The truck repair shop industry primarily provides aftermarket repair services and products for medium-sized and heavy-duty trucks. "Aftermarket" in this context refers to maintenance, repair, parts, accessories, chemicals, and fluids for trucks after their initial sale. It's worth noting that this industry does not include repair and maintenance services provided by truck dealerships or gas stations.
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/i95xdh
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