The newly released 2016 SEMA Market Report shows that the automotive specialty-equipment industry grew to a new retail sales record of $39.2 billion in 2015.
Industry stalwarts unanimously agree that the hot-rod market is as healthy as it’s ever been. The economy is stronger than it was at this time last year, and consumers have more discretionary income to spend on their toys, partially due to low fuel prices. Although hot rodding—in the most traditional sense—is predominately embraced by aging enthusiasts, the options are diverse, and getting broader.
“Last year’s Battle of the Builders competition at the SEMA Show represents how healthy the market is,” said Rick Love, Hot Rod Industry Alliance (HRIA) past chairman and executive vice president of Vintage Air. “There were excellent examples of all the different vehicle genres to pick from. Everybody in the hot-rod industry is busy; they have more work than they can do and would like to hire more qualified people.”
About this product:
SEMA's Annual Market Report provides the industry with an overview of the state of specialty-equipment market. In 2011, the overall retail sales reached nearly $30 billion, marking the second year of growth.
The report includes:
- The overall size of the specialty-equipment market
- Sales within specialty-equipment segments and niches
- Consumer purchase patterns
- Industry and economic trends
- Vehicle sales trends
About this product:
The 2011 SEMA Market Study will provide you an overview of where the specialty-equipment market stands at the end of 2010 and provide some historical comparisons to put those results in context.Throughout the report, the specialty-equipment market will be shown in two basic category designations:
Three Segments: These are broad product categories: Appearance and Accessory Products; Racing and Performance Products; and Wheels, Tires, and Suspension.
Nine Niches: These categories focus on the application and usage of the product; Truck, Off-Road, Racing, Compact Performance, Street Performance, Restyling, Restoration, Custom, and Other.
The information for this report is compiled from a variety of sources, including interviews with manufacturers, wholesalers, and retailers, consumer surveys, and government data.