Automotive Specialty-Equipment Sales Increase to $50.9 Billion

 

Income of specialty-products elements achieved a new large in 2021, increasing to $50.9 billion in retail profits for the to start with time in record—up from $47.9 billion in 2020.

The acquiring arrives from the new “2022 SEMA Market Report,” obtainable for download at www.sema.org/research, furnishing the automotive aftermarket marketplace a in depth evaluation of the specialty devices current market in 2021. The report incorporates new data on the U.S. market place measurement, customer profiling, market tendencies and modifications in the car or truck inhabitants.

 

SEMA estimates the expansion was pushed by sturdy buyer interest in doing work on their car or truck, as far more than 80% of specialty-machines consumers noted spending as a lot, if not extra, time performing on their personal vehicles as they did through 2020.

 

“The 2022 SEMA Industry Report can aid member organizations discover important regions of desire for consumers, and the place the most revenue was put in on elements in 2021,” said SEMA Director of Current market Study Gavin Knapp. “As our greatest investigation report of the yr, this is a will have to-go through for any organization owner who wants to make strategic, details-driven selections.”

 

Restrictions on in-particular person shopping eased in 2021, prompting individuals to grow to be much more relaxed heading back into retailers to acquire elements. The break up of in-retail store compared to on the internet sales in 2021 was about 50/50—as opposed to 54% on the internet in 2020, and 45% on the internet in 2019. This normalization is anticipated to continue on in 2022.

 

Pickups continue being the single major phase in the specialty-tools pieces sector. An estimated 13.6 million pickups were modified by buyers in 2021, accounting for a put together 31% of specialty-tools areas profits.

 

Ongoing provide chain concerns are also a problem in 2022. Far more than 90% of specialty-equipment makers, distributors and shops really feel their business enterprise has been impacted by provide-chain-relevant issues. This, in turn, is softening expectations about 2022 gross sales.

 

For additional info on the prospect readily available in the automotive specialty-equipment industry, obtain the 2022 SEMA Sector Report for totally free now at www.sema.org/investigation.

 

Source: SEMA