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U.S. Brake System Parts Aftermarket
Frost & Sullivan, Jan 2001
Large Customer Accounts, Consolidation Critical to Maintain Market Share
To be a major competitor in the automotive aftermarket, brake parts manufacturers must supply large customer accounts, such as programmed distributors, retailers, and national installer chains. Large distribution organizations with a national presence are seizing market share from independent distributors. These companies typically prefer sourcing parts from larger manufacturers that can offer them a complete range of products. As a result,
brake parts manufacturers must continue to expand and consolidate to gain
market share.
This in-depth Frost &Sullivan research provides a comprehensive look at the
current market-size and potential of the U.S. brake system parts aftermarket.
It presents market challenges and strategies to overcome them, making it an
excellent resource for companies that want to take advantage of key market
opportunities.
Increased Auto Sales, Vehicle Longevity Spark Demand for Replacement Parts
Due to the robust state of the U.S. economy, the vehicle population has grown
consistently over the past decade. The increased number of vehicles per household accompanied by an extended vehicle life span has resulted in increased
revenues and profits for the brake systems parts aftermarkets.
Extended vehicle life span is expected to boost brake system component
aftermarket sales by increasing the total number of replacements per vehicle,
states the author of this report. At 9.3 years old in 1999,the average car is
now older than at any other time in the past 25 years.
Since an efficient braking system operation is necessary for personal safety,
vehicle owners seldom postpone brake repair. As the population of new vehicles ages, manufacturers can expect to see heightened demand for replacement
parts.
Value Line Enhances Development of Premium Products
Intense price competition and the progression of offshore product manufacturing will have a significant impact on companies with strong premium product
lines. The value-conscious customer will force larger companies to focus on a
value line product to gain market share. To ensure their profit margin, companies must develop creative marketing strategies to avoid loss of sales revenue
in the premium product line segments.
Participants will need to educate customers on the benefits of buying premium
products while at the same time, create a diverse range of brands for their
value lines that may be pushed through separate distribution channels
Users of this Frost &Sullivan research are provided with the most up-to-date
market intelligence available, enabling their companies to formulate investment
strategies for the future.
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