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North American Truck Toolboxes Aftermarket
Frost & Sullivan, Aug 2010, Pages: 49
This service analyzes truck toolboxes in the aftermarket in the United States and Canada. It includes unit shipment and revenue forecasts, pricing analyses, distribution channel analyses, market share analyses, market drivers and restraints, and key conclusions and findings. The product scope includes toolboxes for light, medium and heavy-duty trucks. All units, prices and revenues are presented at the manufacturer level and expressed in U.S. dollars. The base year is 2009. Forecasts are provided from 2010 to 2016, and historical data is provided for 2006 to 2008. The market is further segmented into saddleboxes and utility boxes. Within each of these segments, there are subsegments for aluminum, steel and plastic toolboxes.
This Frost & Sullivan research service titled North American Truck Toolboxes Aftermarket provides a detailed analysis of unit shipments and revenues market drivers and restraints, distribution channels, and market shares for the North American truck toolboxes aftermarket. The study covers aluminum, steel and plastic toolboxes for light, medium and heavy-duty trucks. The research also segments the market into saddleboxes and utility boxes.
Market Overview
Rebound of Light Truck Market to Boost Toolbox Sales
Demand for truck toolboxes is closely tied to new truck sales. Plummeting sales of new vehicles over the last two years saw revenues for light truck toolboxes decline by about 35 percent. As the economy recovers and commercial fleet owners begin to increase their capital expenditures, truck toolbox revenues will rise. New light truck sales in the United States and Canada are expected to grow from 1.4 million in 2009 to 2.2 million in 2016. Sales growth will be particularly strong over the next two to three years as buyers satisfy pent-up demand for new trucks brought on by the current economic recession.
While individual truck owners may not return to the market so quickly, fleets and small businesses will increase their spending for truck toolboxes in the coming years. Weak consumer confidence and concerns over rising fuel prices are likely to push more motorists into smaller, less expensive cars, and to limit the potential growth of truck toolboxes. Those buyers using their trucks for business purposes will account for most of the growth in light truck and toolbox sales.
Currently, truck toolboxes are available through specialty retailers and mass merchants, as well as wholesale distributors. “The retail channels are growing at a much faster rate than the wholesalers and are attracting new customers, including fleets and small businesses,” says the analyst of the research. “Suppliers can maximize their growth by positioning their products where the most customers have access to them.”
Companies that used to procure their truck equipment from an industrial supply house or jobber store have gradually joined consumers at the big-box stores to take advantage of lower pricing. “However, buyers should understand that retail products typically use lower-grade aluminum or steel and have fewer product features than those found in the other major channels to achieve their price advantage,” notes the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Saddleboxes aftermarket
- Utility boxes aftermarket
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