Industry icons, SEMA leadership and volunteers gathered July 29 in Anaheim, California, to honor the association's new Hall of Fame inductees at the 2022 SEMA Awards Gala. The celebration took place at the Westin Anaheim Resort, not far from the Anaheim Convention Center, a place of historical significance for the association.
For the first time ever, specialty-equipment retail sales in the United States have topped $50 billion. Overall consumer spending on parts and accessories jumped 6.3% last year, pushing our industry’s market size to a record $50.9 billion in 2021. Consumers continue to show that they love their cars and accessorizing them. Although there are some economic headwinds on the horizon, our forecast remains optimistic. Sales may slow a bit in 2022, but a drop is not expected. As we get further past the pandemic and resolve supply-chain issues, we expect a return to the growth levels seen over the last decade.
The products featured below are from SEMA Data member companies that have attained Gold- or Platinum-level data, which means that their product data is robust and complete—likely to drive customer purchase decisions. SEMA Data members meeting data scorecard requirements are invited to submit product releases for consideration to enews@semadatacoop.org.
If we’re not already at it, we’re likely near the cusp of an electric vehicle (EV) tipping point. Two years ago, the state of California mandated 35% EV sales by 2025 and banned all new non-EV sales by 2035; Washington state’s mandate is even more ambitious: by 2030 it will refuse to license any vehicle made that year or later unless it’s electric, a push that resembles the one in several Western European countries.
An interview format where hosts pitch ads feels a touch anachronistic in this digital-everything age. Podcasts seem more like the kind of medium our grandparents’ generation would’ve invented, had the internet spontaneously appeared in their youth. You just know Milton Berle would’ve slayed.
The SEMA Businesswomen’s Network (SBN) embarked on an all-female Ford Bronco build this year to highlight successful women in the automotive industry while also attracting and supporting more females to pursue careers in the field.
In a recent issue of SEMA News, we reviewed a SEMA Education seminar that discussed the challenges and opportunities posed to the specialty-equipment market by the proliferation of advanced driver assistance systems (ADAS) on OE vehicles (“ADAS and The Art of Vehicle Customization,” May 2022). In the article, we discussed the proper procedures to follow when lifting or lowering a vehicle. This month, we take a look at a recent follow-up session, “Modding Vehicles With ADAS,” which aimed to provide insight for designers and manufacturers of exterior dress-up and bolt-on components who want to make sure their products are ADAS-compatible.
A recent study published by Straits Research forecasts a huge upsurge in demand for advanced driver-assist systems (ADAS) through the remainder of the decade. Currently valued at $12.7 billion, the global ADAS market is expected to surpass $57 billion by 2030, with a compound annual growth rate (CAGR) of more than 18%, as originally reported by Aftermarket News. Increases in consumer demand combined with more disposable income, greater adoption by OE manufacturers and more stringent government mandates were all cited as contributing factors.
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