replacement demand

VIS has noted that sales volumes have slightly increased during FY19 while increasing replacement demand of oil tankers and product diversification should support sales.

Farmer concerns over the lingering trade disputes with China and the resulting increase in soybean inventories has curtailed replacement demand from row crop farmers.

"Many markets have already hit a saturation point for new smartphone demand and are dependent on replacement demand. However, since last year, consumers decided to trade up whenever they had the chance and are thus going for a better device, despite the price difference," said Tom Kang, research director, Counterpoint Research.

"We believe that replacement demand for XR will be better than it was for the iPhone 8 series last year because of XR's larger display, longer battery life, dual-SIM support, and new form factor design," Kuo said in the note to investors.

Technological innovation remains one of the prominent driving market forces in the global industrial air compressor market, which results in significant replacement demand for the industrial air compressor.

"A slowdown in replacement demand in some developed markets, including the United States and Western Europe, will impact overall aftermarket growth," noted Rajesh.

With consensus expectations of better monsoon rains in FY17 and new model launches intensifying competition in the passenger and two-wheeler segments, Fitch believes replacement demand will increase, supporting commercial vehicle demand.

The report finds that the worldwide notebook PC market declined 4.9% year-on-year in 2015 as global economic uncertainties remained and the benefit of the massive replacement demand, expected to come from Windows 10 and Skylake CPUs, had yet to be felt.

All these factors have been fueling OEM and replacement demand for automotive tyres in Vietnam.