More than 36 months removed from some of the toughest economic conditions the aftermarket has seen in a generation, trade winds have started to blow in favorable directions.
Truck sales from 2006 and 2007 were at record levels and those units are now reaching a historically good timeframe for aftermarket services.
From the two years leading through 2007, Class 8 truck sales reached records heights, combining for 537,000 units.
According to John Blodgett, vice president of sales and marketing for MacKay and Company, the highest annual parts demand comes in years seven through nine, which puts the aftermarket currently in the “sweet spot.”
MacKay and Company estimated the 2014 aftermarket as a $26.19 billion business. That growth trend is expected to climb to at least the end of this decade when it is expected to reach nearly $32.5 billion.
As of 2014, there were 2.9 million Class 8 trucks on the roads, nearly double the 1.5 million registered in 1994. Class 6 and 7 trucks have actually decreased marginally; down 130,000 units in the same 20 year span, according to MacKay and Company.
Among the major changes taking place in the aftermarket is the proliferation of OE captive engines.
