Automotive Specialty-Equipment Sales Increase to $50.9 Billion

Income of specialty-gear areas reached a new superior in 2021, growing to $50.9 billion in retail sales for the initial time in heritage—up from $47.9 billion in 2020.

The discovering comes from the new “2022 SEMA Market Report,” available for download at www.sema.org/exploration, offering the automotive aftermarket marketplace a detailed critique of the specialty tools market place in 2021. The report contains new information on the U.S. industry dimension, consumer profiling, field traits and variations in the car or truck population.

SEMA estimates the expansion was driven by solid customer curiosity in doing the job on their automobile or truck, as a lot more than 80% of specialty-machines shoppers claimed paying as significantly, if not a lot more, time doing the job on their individual motor vehicles as they did throughout 2020.

“The 2022 SEMA Current market Report can help member businesses discover important areas of curiosity for people, and exactly where the most income was expended on elements in 2021,” mentioned SEMA Director of Market place Analysis Gavin Knapp. “As our greatest research report of the 12 months, this is a must-examine for any business enterprise owner who would like to make strategic, information-driven conclusions.”

Restrictions on in-particular person searching eased in 2021, prompting consumers to develop into additional cozy likely back into shops to invest in parts. The split of in-retail outlet compared to on the net profits in 2021 was around 50/50—compared to 54% on the net in 2020, and 45% on-line in 2019. This normalization is envisioned to carry on in 2022.

Pickups keep on being the one biggest section in the specialty-products pieces marketplace. An estimated 13.6 million pickups ended up modified by consumers in 2021, accounting for a merged 31% of specialty-products elements gross sales.

Ongoing offer chain difficulties are also a worry in 2022. More than 90% of specialty-gear producers, distributors and stores experience their small business has been impacted by offer-chain-linked problems. This, in transform, is softening expectations about 2022 income.

For a lot more info on the opportunity readily available in the automotive specialty-tools market place, download the 2022 SEMA Current market Report for totally free these days at www.sema.org/study.

Resource: SEMA