Heavy Truck Parts Market was valued at USD 100 Billion in 2022 and is projected to reach USD 145 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The global heavy truck parts market was valued at approximately USD 80 billion in 2022. This market is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2028. The growth is driven by factors such as increasing demand for heavy-duty vehicles in emerging economies, advancements in truck technology, and rising logistical and transportation activities worldwide. The market encompasses a wide range of components, including engines, transmissions, axles, and braking systems, each contributing to the overall market expansion.
Emerging markets present significant opportunities for growth in the heavy truck parts sector. Regions such as Asia-Pacific and Latin America are experiencing rapid industrialization and infrastructure development, which in turn boosts the demand for heavy trucks and their parts. Additionally, the adoption of advanced technologies such as electric and autonomous trucks is expected to create new avenues for market players. The rising focus on reducing vehicle emissions and improving fuel efficiency further supports the development of innovative parts and systems, potentially opening up new segments within the market.
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Denso
Magna International
Continental
ZF Friedrichshafen
Aisin Seiki
Valeo
Linamar
Mitsubishi
Aptiv
Sumitomo Electric
JTEKT Corp
Panasonic Automotive
Autoliv
Dana
Gestamp Celikform
BorgWarner
Knorr Bremse
Meritor
Duparts
PAI Industry
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Heavy Truck Parts Market
OEMs
Aftermarket
Based on Types the Market is categorized into Below types that held the largest Heavy Truck Parts market share In 2023.
Driveline and Powertrain
Interiors and Exteriors
Electronics
Bodies and Chassis
Seating
Lighting
Wheel and Tires
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Heavy Truck Parts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Heavy Truck Parts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Heavy Truck Parts Market, By Type
6. Global Heavy Truck Parts Market, By Application
7. Global Heavy Truck Parts Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Heavy Truck Parts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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