About Off Highway Vehicle Aftermarket
Vehicle aftermarket provides a wide variety of automotive parts. They are generic in nature and made by a third party other than the OEM. They have not been used as auto parts hence it is called brand new replacements. Highway vehicles consist of ATVs, dirt bikes, off-road motorcycles, jeeps, trucks, and some sports utility vehicles/SUVs. This vehicle needs special components that can work on any terrain and in any condition. OHV aftermarket encompasses parts for replacement, collision, appearance, and performance. Ohh highways vehicles are majorly using aftermarket to replace damaged parts. Thus, the demand for off-highway vehicle aftermarket continues to rise with the high emergence of special components in extreme conditions.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The off-Highway Vehicle Aftermarket market is expected to grow with rising demand for specialized auto parts and equipment. Further, the surge in aftermarket-related services created a huge positive impact on the market. Its wide availability creates lucrative opportunities for its demand which further creates profitable pathways for market players Though issues related to its quality create a burden on the market. With huge callings for OHV from construction, Agri, and mining industries, major players are gaining attention from the market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Off Highway Vehicle Aftermarket market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Continental AG (Germany), Delphi Automotive PLC (United Kingdom), Magneti Marelli S.p.A. (Italy), Eaton (Ireland), Robert Bosch GmbH (Germany), Yale Materials Handling Corporation (United States), Panacea Aftermarket Co (Canada), Fuyao (China), Vieston (United States), Dastun (Japan), Daimler (Germany), Dacia (Romania), Harris Williams (United States), Volvo (Sweden), Meritor, Inc.(United States), FINETOP Forklift Cabin USA (United States) and Komatsu Forklift(United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are TVH Parts Holding NV (Belgium), Trupar America (United States), Lift Truck Supply Inc. (United States), Pivot Equipment Parts (United States) and All Make Solutions, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Off Highway Vehicle Aftermarket market by and Region.
On the basis of geography, the market of Off Highway Vehicle Aftermarket has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service Channel , the sub-segment i.e. Authorized Service Providers will boost the Off Highway Vehicle Aftermarket market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type , the sub-segment i.e. Tractors will boost the Off Highway Vehicle Aftermarket market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering , the sub-segment i.e. Replacement Parts will boost the Off Highway Vehicle Aftermarket market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Requirement of Heavy-duty Parts for Power and Efficiency in OHVs and Wide Availability of OHVs Aftermarket Parts
Market Growth Drivers:
Growing Demand for Off-Highway Vehicles (OHVs) especially in Material Handling, Mining, and Construction Sites and Reasonable Pricing of Auto parts pushing Off Highways Vehicles Users towards Aftermarket
Challenges:
Quality is one of the Big Concerns as Aftermarket is Generic Replacements, so they might not be Perfect in the way of OEM and Issues related to the Warranty
Restraints:
Lack of Regulations for the Standardization Aftermarket and Deteriorate Vehicle's Performance could be a Hurdle
Opportunities:
Less Expensiveness of Aftermarket Impacting on the demand in Positive Manner and The surge in Callings for Vision-based Terrain Mapping with Utilizing OHVs
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.