Connect with us

News

Specialty-Equipment Parts Sales Increase by $3 Billion

Advertisement

Sales of specialty-equipment parts reached a new high in 2021, increasing to $50.9 billion in retail sales for the first time in history – up from $47.9 billion in 2020.

The finding comes from the new “2022 SEMA Market Report,” which is available for download at www.sema.org/research and provides the automotive aftermarket industry a comprehensive review of the specialty-equipment market in 2021. The report includes new data on the U.S. market size, consumer profiling, industry trends and changes in the vehicle population.

SEMA estimates that the growth was driven by strong consumer interest in working on their car or truck, as more than 80% of specialty-equipment consumers reported spending as much, if not more, time working on their personal vehicles as they did during 2020.

Advertisement

The split of in-store versus online sales in 2021 was roughly 50/50 ¬– versus 54% online in 2020, and 45% online in 2019.

Pickups remain the single biggest segment in the specialty-equipment parts market, the organization says. An estimated 13.6 million pickups were modified by consumers in 2021, accounting for a combined 31% of specialty-equipment parts sales.

Ongoing supply chain issues are also a concern in 2022, SEMA says. More than 90% of specialty-equipment manufacturers, distributors and retailers feel that their business has been impacted by supply-chain-related challenges. This, in turn, is softening expectations regarding 2022 sales.

Advertisement
Click to comment

POPULAR POSTS

hand shake hand shake

News

Melvin’s Tire Pros Partners with Mavis

Toyo Tire manufacturing north america plant white georgia Toyo Tire manufacturing north america plant white georgia

People

Toyo Tires Announces Executive Changes in Manufacturing

Bridgestone Recall 1400 Bridgestone Recall 1400

News

Goodyear Tire & Rubber Company Recalls Certain Kelly Armorsteel KDM I tires

Belle Tire anniversary Chicago expansion Don Barnes Belle Tire anniversary Chicago expansion Don Barnes

News

Belle Tire’s Don Barnes III Reflects on 100th Anniversary, Expansion into Chicago

Connect
Tire Review Magazine