Each year, SEMA’s research department produces a report that explores the automotive specialty-equipment market. The report examines the size of the market while also looking at different product segments, vehicle niches and sales trends. For more than 20 years, the report has been compiled based on data culled from industry manufacturers, providing an outward view of what their businesses are selling. For the first time, the research team has now added an element based on consumer feedback. The goal of the 2015 SEMA Market Report (available free to association members at www.sema.org/automotive-aftermarket-research) is to provide member companies with comprehensive information they can use to help their businesses.
Consumer spending on automotive specialty equipment parts and accessories is on a rise, reaching $36 billion in 2014. This number, which represents an 8% growth over the previous year and the fifth consecutive year of growth, is reported in the 2015 SEMA Market Report available exclusively to SEMA member companies at (www.sema.org/marketreport2015).
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The SEMA Market Report provides an overview on the state of the specialty-equipment market. For the first time ever, the 2015 report includes new data collected from 20,000 consumers and delivers depth on this $36 billion industry.
The report includes:
Legacy Stylings Meet New Technologies
The automotive aftermarket owes quite a bit to hot rodders. While, technically, the industry existed prior to the street scene of the ’50s, it was hot rodders who sparked the explosion of innovative performance and appearance products that now characterize the heart and soul of the automotive specialty-equipment market. They made tinkering with, modifying and personalizing cars cool, catapulting the industry into the $33-billion powerhouse it is today. And although the industry has since grown and broadened to encompass a dizzying array of products and trends in countless categories, hot rodding has hardly faded from the scene.
Compass Points for Specialty-Equipment Companies
Business trends reveal themselves in a host of incarnations, and we seek each year to ferret out those that pertain to the automotive specialty-equipment aftermarket. The SEMA Show, new-vehicle sales, educational tendencies and other indicators may reveal significant industry developments—or at least give savvy professionals some compass points to steer by. We hope that the following areas of interest help with the navigation.
Attendees of the 2014 SEMA Show experienced the association’s membership offerings firsthand at SEMA Central, with many even joining on-site. A common question from these new members was “Now what?” Figuring out how to gain the most from association membership can be tricky at first, but there are a few easy ways to get started and a team of people eager to help. Whatever the niche and scope of a company, these instruments can accelerate your business for no added cost.
Steeped in the American automotive tradition of increasing vehicle power and performance, the street-performance niche is the strongest and largest in the specialty-equipment market, comprising $8.72 billion in retail sales in 2013.
Sales of automotive specialty-equipment products continue to climb, reaching $33 billion in 2013. The number represents a 6.7 percent increase over the previous year and marks the fourth consecutive year of growth, according to the SEMA Annual Market Study that is available at www.sema.org/2014samr.
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Annual Market Report provides the industry with an overview of the state of the
specialty-equipment market. In 2013, overall retail sales reached more than $33
billion, marking the fourth year of growth.
The Report Includes:
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The SEMA Consumer Demand Index for Performance Products and Accessories (CDI) measures purchase intentions of consumers (both enthusiast and mainstream) over the next 90 days. As enthusiasts represent approximately 10-15% of U.S. drivers, the Index is an indicator of mainstream consumer demand for automotive specialty and performance products.
The Consumer Demand Index is a weighted composite index, set to an initial value of 100 based on demand levels benchmarked between January and March 2007.
The June 2014 based on 775 interviews conducted nationwide via Random Digital Dial (RDD) telephone survey. Since last month, the index increased from 32 to 61.