While some analysts are predicting a strong rebound in the overall supply chain in 2022, particularly starting in the second and third quarters, this year sounds all too similar to last year—lingering uncertainty, with the promise of better days to come.
The continued COVID-19 pandemic is still having an impact on the aftermarket at the start of 2022, as the segment suffers from some (but not all) of the same difficulties with parts and material shortages as original equipment manufacturers have found as they scramble their truck build plans. Aftermarket suppliers, however, generally had a better year last year—revenues up 17% in 2021, according to published insights from MacKay & Co.—than the parts chain for new vehicles.
Late last year, Molly MacKay, VP of operations at MacKay & Co., attributed the current climate to a “rainstorm of events.” She cited supply chain constraints and shortages, parts issues, hiring issues, and inflation as factors. On the positive side, MacKay & Co.’s data found the total aftermarket value increasing 17.2% in 2021 after declining by 8.9% in 2020.
The comprehensive report tracked more than 800 truck, tractor, and trailer components across Classes 6-8 and several vocations and fleet sizes. In 2022, MacKay projects a 7% increase.
Overall, market uncertainty has not stopped aftermarket suppliers from innovating.
There are countless aftermarket products—wheels and wheel hubs, engine compressors, powertrain systems, couplings, filters and pumps, technical repair software, wireless cameras and monitors, replacement driveshafts, radiators, gears, shafts, bearings, and the like—from which to choose; the aftermarket is as stocked with options as ever.
Flip through the gallery above, which highlights some of the products that stood out over the last 12 months from various manufacturers.