European Commercial Vehicle Replacement Brake Parts Aftermarket, Forecast to 2026
The increasing vehicles in operation (VIO) and the rising average vehicle age will drive growth. However, revenue will record faster growth than units due to the marginal rise in average price per unit.
As part of the disc brake system, pads, rotors and calipers are expected to record growth, while shoes and drums are likely to register a decline due to their shrinking installed bases. Key channel partners include wholesale distributors (WDs) and OES channels. Retailers and eRetailers hold a lesser share; however, they are anticipated to capture some share from WDs.
With increasing bargaining power, distribution groups will be able to restrict the price increase. As a result, overall average price will record marginal growth during the forecast period. Moreover, as OEMs have started to offer cost-competitive parts for all make-and-model vehicles, price growth will be restricted. With the introduction of electric vehicles (EVs), brake parts will have a higher product life, and this will result in slower market growth. However, the competition will intensify, which will result in further fragmentation of market share. Improvement in factors such as fill rate, product availability and application coverage and the ability to win big customer accounts will enable future growth.