Market Research

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The specialty-equipment industry took a hit in 2008 as consumers scaled back their purchases—new vehicle sales dropped 35% during the third quarter alone, for example—but depending on the type of consumers analyzed, spending varied significantly.

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Australia, a country of 20 million people, is world famous for a citizenry whose love of cars and vehicle customization is on a par with that of the United States, and perhaps more so in some sectors. With more than 14 million vehicles and a population a mere one-tenth the size of the U.S., Australia has one of the highest ownership of vehicles per capita in the world.

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Retail sales for the Compact Performance niche reached new heights during 2007, peaking at $6.688 billion for the year. This accounted for a 12.21% increase over 2006: the 10th consecutive year since SEMA began documenting the segment separately.

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Motorsports of all varieties and the products that support them are acknowledged as the unchallenged cornerstones of the specialty equipment market. Performance manufacturer sales reached $2.43 billion in 2007, up 44% in the last 5 years and up 72% from 1993.

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The light-truck niche continues to represent the largest portion of the specialty equipment market for both manufacturer and retail sales. In particular, pickup trucks have been the backbone of the light truck market for aftermarket parts. Pickups are often lifted or lowered. They are accessorized with big wheels and tonneau covers. And they are used to tow boats, race cars and toy haulers.

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