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.
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.
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.
Preview of a New Report on the Side-by-Side Accessory Marketplace
Spurred by the growth in the number of utility task vehicles (UTVs) over the last decade, SEMA recently released a new report examining the size, types of accessories and accessory purchasing processes involved in this burgeoning powersports segment.
UTVs, also known as side-by-sides, evolved as an offshoot of the all-terrain vehicle (ATV) market. The earliest models were spawned by the need for greater cargo capacity for those who used three- and four-wheel cycles for work tasks on farms, job sites, golf courses and other areas where off-road performance was required but a fullsize pickup was unnecessary or too cumbersome.
