Abstract
Demand in North America to reach $59 billion in 2010
The North American aftermarket for light vehicle components and parts is
forecast to rise 3.2 percent per year, reaching $59 billion in 2010. While
this rate duplicates historical trends, some segments of the market, such as
electronics, will experience much faster growth. The parts aftermarket' s
current moderate revenue growth results from improvements in new light vehicle
quality, reliability and durability. However, the emergence of aftermarket
parts sourced from China will apply increasing downward pressure on parts
prices.
Overall new vehicle quality and resulting durability began to improve
significantly during the 1980s, as new technologies and improved electronic
systems were gradually introduced into the vehicle platform. In the years
since, the aftermarket has experienced a resultant slowing of demand, which is
likely to continue for a few more years. However, as these "new quality"
vehicles remain in the vehicle park for longer periods of time than prior
vehicles, they will require additional service and repair, thus lifting future
aftermarket demand.
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