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Strategic Analysis of the North American Class 6-8 Remanufactured Powertrain Components Aftermarket

  • December 2013
  • 114 pages
  • Frost & Sullivan
Report ID: 1939377

Summary

Table of Contents

Enhanced Component Remanufacturing will Push Revenue by 2019

This research service analyzes the Class 6-8 remanufactured powertrain components aftermarket in the United States and Canada. The research includes unit shipment and revenue forecast, pricing analysis, distribution channel analysis, market share analysis, market drivers and restraints, a market overview, key conclusions and findings, and a future outlook. The product scope includes remanufactured engines, remanufactured transmissions, remanufactured clutches, and remanufactured turbochargers for heavy duty commercial vehicles. All units, prices, and revenue are presented at the manufacturer level and expressed in US dollars. The base year is 2012. Forecasts are provided from 2013 to 2019, and historical data is provided for 2009 to 2011.

Executive Summary—Key Findings

1. Total manufacturer-level revenue will increase from $X billion in the 2012 base year to approximately $X billion in 2019, with increasingly sophisticated components such as variable geometry turbochargers driving most of the growth.
2. Unit shipments of remanufactured engines, transmissions, and clutches will decline because of improving original equipment quality and increasing competition from new replacement parts, but sales of remanufactured turbochargers will rise by about X% annually.
3. With well established core management systems, the original equipment supplier (OES) channel held about X% of aftermarket revenue in 2012 and is likely to gain additional share in the coming years, as increasing powertrain system complexity makes remanufacturing more difficult for independent suppliers.
4. Rising prices—from X% toX% annually—will drive revenue higher. The increased amount of electro-mechanical content in remanufactured powertrain system components to make them compliant with fuel economy and emissions regulations will make products more expensive to distributors, installers, fleets, and truck owners.
5. Original equipment manufacturers (OEMs) Caterpillar, Detroit Reman, Eaton, Honeywell, Cummins, and Meritor hold the highest market shares, with independent suppliers struggling to penetrate the aftermarket.

Executive Summary—Key Conclusions and Future Outlook

Effective core buyback systems and advanced technological exposure make Class 6-8 truck manufacturers and their powertrain system suppliers the leaders in the aftermarket.

Parameter: Market Status
Current:
• Estimated manufacturer-level revenue of $X billion and enjoying low-to-medium growth driven by the entry of more sophisticated powertrain systems with increased electro-mechanical content into the aftermarket.
• Increased presence of competitively priced new replacement products threatens growth for remanufactured units.
Future:
• Estimated manufacturer-level revenue forecasted to reach $X billion by 2019.
• Economic recovery will increase spending on truck maintenance, and growth in Class 6-8 vehicles in operation will increase the installed base of vehicles that could potentially require a remanufactured powertrain component.

Parameter: Competition
Current:
• High entry barriers include increasing product complexity, making it more difficult for independent participants not aligned with the truck manufacturers to penetrate the market.
• Threat of new competitors is low.
Future:
• Vertical integration and in-sourcing of remanufactured powertrain system components by Class 6-8 truck manufacturers will further intensify competition.

Parameter: Distribution
Current:
• OES is positioned to lead in the aftermarket because of its strong core collection programs and technological expertise, making it harder for suppliers to independent channels to compete.
Future:
• Independent remanufacturers will enhance their competitive position as they develop their technological expertise and enjoy greater access to cores.
• Warehouse distributors (WDs) and buying groups to gain share as independent manufacturers improve their competitive position and more new replacement products become available.

Parameter: Market Trend
Current:
• Higher fuel economy, emissions controls, and safety regulations will drive continuous improvements in powertrain technologies that will enter the aftermarket.
Future:
• Market consolidation with large remanufacturers and distributors acquiring smaller competitors are unable to keep up with the pace of change.
• Remanufactured product quality improves and supports long-term market growth.

Key Questions This Study Will Answer

What is the short-to-medium term outlook for remanufactured powertrain components in the North American Class 6-8 aftermarket?
What are the key market trends shaping the direction of the aftermarket?
Which distribution channels are growing the fastest and why?
Who are the key industry participants and what is their value proposition?
What are the challenges faced by the market participants and how do they plan to address them?

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