This growth will be fuelled by the size expansion and increasing age of the North American light vehicle fleet. Mechanical products – which include automotive filters, brake parts, drivetrain components, engine hard parts, and transmissions – will continue to be the largest aftermarket segment, accounting for 38% of all sales in 2016, the report notes.
However, continuing improvements in vehicle component durability will prevent sales from rising more rapidly through 2016, as will increased monitoring of vehicle systems by advanced onboard electronics, alerting owners of any performance issues. The fastest growth among the major aftermarket product segments will be registered by electronic products.
Professional service providers account for the vast majority of demand for light vehicle aftermarket parts, representing 85% of total sales in 2011. The professional service provider market is expected to see faster growth than the do-it-yourself (DIY) market through 2016.