Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Heavy Duty Truck Parts Dealers in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
Heavy duty truck parts dealers sell products to a wide range of manufacturers and aftermarket buyers. Parts dealers represent a key component of local and long-distance freight trucking, helping maintain global supply chains. As a result, companies receive relatively stable demand from a wide range of commercial markets, limiting uncertainty.
Even so, dealers have faced severe economic uncertainty following the pandemic, contributing to tepid revenue growth. Conversely, soaring e-commerce growth and the post-pandemic economic recovery have enabled a steady rebound, highlighted by freight transportation services index growth. Dealers have taken advantage of increased trucking activity and robust demand for truck repair to expand positions in key aftermarkets.
Overall, revenue for truck parts dealers has expanded at an expected CAGR of 0.9% to $26.7 billion through the current period, including a 1% increase in 2024, where profit settled at 3.9%.
Trends and Insights
- Rebounding economic activity and torrid e-commerce sales have spurred growth: Increased trucking activity has increased wear and tear on trucks, supporting demand for parts from key aftermarkets.
- Companies provide mechanical, electronic and exterior parts for trucks and buses: Innovation in electric trucks has supported demand for truck and bus electronics.
- Most truck parts dealers operate in the Southeast: The region's high population and robust trucking and trade activity contribute to stable demand for parts.
- Successful truck dealers can differentiate themselves through competitive pricing, on-time deliveries and diverse inventories: Companies that develop strong reputations and forge relationships with key buyers and suppliers can gain a competitive advantage.
- Strong economic conditions will support growth: Truck trailer dealers will benefit from rebounding performance across most sectors of the US economy.
Sustained e-commerce growth alongside recovering brick-and-mortar markets will spur demand for consumer products, increasing shipping demand from retail, wholesale and manufacturing markets.
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
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
For more information about this report visit https://www.researchandmarkets.com/r/lhd5vi
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