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- May 23 2013
Research Reports
2003 Light Truck Market Report
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The light truck aftermarket niche is the largest of seven generally acknowledged specialty equipment industry niches. The following table lays out the contribution of each in 2002. The driving force behind light vehicle sales in the U.S. is clearly the light truck segment; in fact, the light trucks have eclipsed the passenger car vehicle market in sales through the twelve months ending in July 2003. The market has been driven by a number of factors. Pickup trucks have been typically associated with rural lifestyles and construction/utility needs. Extra and king cabs, along with improved ride and comforts have provided for a much more suburban vehicle, combined with utility, the pickup truck segment has been appealing. The rise of two new classes of vehicles, the SUV and now the crossover utility vehicle (CUV) are dramatically adding sales to a category that is broadening in appeal.
Specialty Equipment Market in Germany
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The German market, the largest in Western Europe, is at the forefront of producing and accessorizing cars which look good and drive fast. With its renowned Autobahn, on which speeds of 200 km an hour (125 mph) are common, a highly developed culture of vehicle customization exists. From upscale specialized tuners such as Brabus, AC Schnitzer, Kamei and Irmscher who can charge upwards of $200,000 for a full vehicle customization to the smaller multibrand accessorization shops, German motorists have a wide array of options with which to accessorize their VWs, Opels and BMWs and the other cars that make up their 44 million passenger vehicle market.
Western Europe: Prospects for Specialty Products
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United States specialty product suppliers can succeed with marketing and sales efforts in the vast—168 million registered vehicles—European market. But given the differences in the European marketplace in terms of vehicle mix, consumer preferences and government regulation, it is not enough for American companies to simply ship merchandise primarily designed for U.S. vehicles to outlets in Europe, sit back and expect volume sales on a scale comparable to that which is established in the States. For some companies, those with appropriate products and applications, Europe is and could increasingly become a lucrative sales arena.
2002 SEMA Industry Update
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Those who are not part of the industry would have trouble accepting that any industry could exhibit continued growth patterns as this industry does. Last year, 2001, the automotive specialty equipment industry continued its incredible growth pattern. With the exception of 1991, the industry has had at least 16 years of continual growth. The streak is probably longer, but industry wide records were not kept prior to 1985. In 2001, we saw an increase of approximately 4 percent. That may not seem like much, but reflect for a moment on everything that happened last year. A year in which the economy of the U.S. grew only 1.2 percent, but still a year that saw our industry increase more than three times that rate.
Specialty Automotive Aftermarket in the U.K.
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The U.K. market, the fourth largest in Western Europe, is also one of the easiest markets in Western Europe for SEMA-member companies to gain a foothold. The lack of language barriers and the relatively regulation-free environment regarding vehicle customization form a basis for exploring the market. These two factors, coupled with a sizable and growing portion of British consumers who seek to personalize their vehicles, make the U.K. market attractive for specialty equipment companies.
2001 SEMA Market Study
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On an annual basis we continue to see the specialty automotive products industry growing. Since 1992, the industry has had an average annual growth of 8 percent. That's eight years of nice increases. How long can the industry keep up such a pace? There are many companies within the industry that are still reporting appreciable sales gains. Of course there is the other side of the coin and some companies are struggling, but as a whole the industry appears to be holding its own. One of the secrets to industry growth is niches. Since most of the companies involved with specialty automotive equipment are small, niche markets that are unprofitable for larger firms provide a good living with potential for growth. Combined with owners and operators who are enthusiasts at heart, niche markets provide an excellent spawning ground for innovative products.
1999 SEMA Market Study
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The specialty automotive equipment industry has always been hard to quantify; not only is it fragmented, but depending on who you talk to, the market definition has any number of possibilities. The approach used here defines specialty automotive equipment as products and services used to improve or otherwise change production vehicles. For the consumers who purchase the industry's products, the real distinction is that performance parts and accessories make their vehicles more enjoyable. In 1998, manufacturer sales of specialty automotive products reached $7.47 billion at manufacturer level, and retail sales were $21.2 billion. That's an increase of 71.6 percent from 1990, when manufacturers' sales of specialty equipment were $4.352 billion.
1998 SEMA Market Study
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The automotive aftermarket is typically divided into three major segments: repair parts, service and maintenance, and specialty equipment. The approach used here defines specialty equipment as aftermarket products and services used to improve or otherwise change production vehicles. In this way we differentiate specialty equipment from repair parts used to maintain a vehicle in its original condition. In 1997, sales of specialty automotive products reached $6.85 billion at manufacturer level and retail sales were $19.33 billion. An increase of 57.4 percent from 1990, when the manufacturers' sales of specialty equipment was $4.35 billion.