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Original Equipment Service Providers in the CV Aftermarket to Edge Out Independent Aftermarket Participants Finds Frost & Sullivan - eCommerce helps lower cost of parts and creates growth opportunities across the end-user spectrum, finds Frost & Sullivan’s Mobility team - Frost.com
Original Equipment Service Providers in the CV Aftermarket to Edge Out Independent Aftermarket Participants Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2017/07/11 - eCommerce helps lower cost of parts and creates growth opportunities across the end-user spectrum, finds Frost & Sullivan’s Mobility team - Frost.com.

   
 
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The share of four- to seven-year-old vehicles in the commercial vehicle (CV) parc is forecast to rise from 17% in 2016 to 21% in 2025, opening up opportunities for aftermarket products and services. This widening of the addressable market will intensify the competition between independent aftermarket (IAM) and original equipment manufacturers (OEMs), and result in the expansion of OE service (OES) channels. OEMs are expected to flood the aftermarket with economy-line products for post-warranty trucks as well as attract new classes of buyers with innovative logistics models, such as Uber for trucks and Big Data analytics for total cost of ownership optimisation.

Strategic Overview of the Commercial Vehicles Aftermarket in Europe, Forecast to 2023, part of Frost & Sullivan's Automotive & Transportation Growth Partnership Subscription, analyses the independent aftermarket as well as OES or dealer service channel. The study covers light CVs (LCVs), medium CVs and heavy CVs; the macro indicators for the aftermarket; and emerging opportunities, business models and country-level analysis for Germany, France, the UK, Italy, Spain and Russia.

“There is a large market for aftermarket solutions that significantly increase customer engagement and convenience in CVs,” said Frost & Sullivan Mobility Principal Consultant Avijit Ghosh. “OEMs will integrate remote diagnostic and prognostic solutions using telematics into their fleet management solutions to create more visibility and business for dealer channels. Telematics is not just a brand differentiator and new revenue stream in the European market, but also a tool to ensure OES channel retention and parts/service sales.”

While the aging CV parc creates growth opportunities, it challenges OEMs and their respective OES network to match the service and repair costs offered by independent garages, particularly after the expiry of warranty. Suppliers and distributors in the aftermarket are also concerned about extending a fleet's downtime due to the low availability of parts. To resolve these issues, OEMs need to introduce an all-makes program at their dealerships, offer genuine value-line parts, and adjust service pricing through a tiered labour rate based on service and location.

“In the future, the CV aftermarket will be heavily influenced by the eCommerce wave, especially in the LCV segment,” noted Ghosh. “eCommerce will enable selling of parts and services directly to installer and garages, while the eRetailing of parts will increase price competitiveness and attract business from a wider range of end users.”

Additionally, truck OEMs will focus on:

• Costs, as pricing will be a key sales influencer in a market that does not boast much innovation;
• Ready availability of products, since fleets prefer suppliers that can offer multiple product lines in the shortest time and at competitive rates; and
• Engine downsizing and implementation of truck weight reduction strategies to adhere to stringent Euro 6 and 7 regulations that will also fuel demand for advanced multi-materials.

About Frost & Sullivan

Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.

 
 
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Original Equipment Service Providers in the CV Aftermarket to Edge Out Independent Aftermarket Participants Finds Frost & Sullivan

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