Genuine Parts vs. Aftermarket Parts: How After-Sales Leaders in Industrial Equipment Manufacturing Can Win Back Customers and Drive Revenue
How Aftermarket Competitors are Seizing the Spare Parts Opportunity For after-sales leaders at industrial equipment manufacturers, genuine part sales and services have never been more important. Your customers are keeping equipment in service longer than ever before, driven by the need to maximize capital investments and navigate ongoing economic uncertainty. McKinsey research indicates that the average lifespan of industrial machinery in North America has increased by nearly 20% over the past decade, with more than 60% of manufacturers reporting that parts and service revenue constitutes a growing share of their business. The same trends have been shared by our customers, with many
