Total U.S. Automotive Aftermarket Sales Forecasted to Increase 8.5% in 2022

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The Joint Channel Forecast Model introduced by the Car Care Association and the Automotive Aftermarket Suppliers Affiliation particulars a potent aftermarket recovery coupled with indicators for ongoing advancement

BETHESDA, Md. and Study TRIANGLE PARK, N.C. , June 7, 2022 /PRNewswire/ — The automotive aftermarket proceeds to exhibit its market place power with greater-than-predicted product sales in 2021 in the wake of a sluggish financial restoration from the COVID-19 pandemic in the United States. Whole U.S. mild obligation automotive aftermarket revenue are forecasted to enhance 8.5% in 2022, totaling $356.5 billion, in accordance to the “2022 Joint Channel Forecast Design” manufactured jointly by the Vehicle Care Affiliation and the Automotive Aftermarket Suppliers Association (AASA). This facts will be examined in a joint, member-distinctive webinar led by Shane Norton of S&P World Mobility at 1 p.m. EDT on June 9.

Auto Care Association Logo (PRNewsFoto/Auto Care Association)

An more 5% progress is anticipated for 2023 and advancement will normal extra than 3% in 2024, bringing the light-weight-responsibility aftermarket to $401.5 billion by 2025. The compound normal once-a-year development charge from 2019 to 2022 will be 5.7%, extra than making up for losses observed in 2020 because of to the pandemic.

“Calendar year following yr, the automobile care industry continues to clearly show its power and reliability,” mentioned Bill Hanvey, president and CEO, Car Treatment Affiliation. “In the midst of the best gasoline costs on document and an inflation rate at a 40-12 months high, coupled with persistent offer chain disruptions and war in Eastern Europe, Car or truck Miles Driven, Cars in Procedure, and shopper spending all amplified in 2021 and are projected to increase into the coming yrs as nicely.”

“The automotive aftermarket at the time once again shows its resiliency with a stronger than expected recovery from the pandemic,” commented Paul McCarthy, president and CEO, AASA. “In simple fact, the automotive aftermarket rose virtually 25% in the earlier two decades irrespective of ongoing headwinds, and we are enthusiastic to see the landmark sector dimension of $400 billion in 2025. But as the market improvements to that landmark variety, seem for a new obstacle to arise as we may possibly change from a industry supported by substantial demand and availability to a fight for current market share. With that, we’ll see one additional strength of the aftermarket emerge, collaboration with the ideal associates to be certain the very same tempo of achievements in this upcoming stage of market dynamics.”

Key details in the joint channel forecast product include:

  • Marketplace tendencies influencing the aftermarket
  • A 2021-2025 overview of market growth and forecasts
  • Marketplace income by channel which include record and forecasts
  • Business revenue by distribution channel
  • And a lot more.

The sector sizing and forecast are executed on behalf of the Auto Care Affiliation and AASA by S&P World Mobility (previously the automotive team at IHS Markit), a foremost enterprise intelligence organization. The forecast is primarily based on the U.S. Census Bureau’s Financial Census IMR Inc. and proprietary facts, financial assessment and forecasting styles from S&P World wide Mobility.

The Joint Channel Forecast Model is obtainable in the Car Care Association’s 2023 Car Treatment Factbook at digital.autocare.org/2023factbook and in AASA’s Aftermarket Dimension & Forecast Report readily available at https://www.aftermarketsuppliers.org/useful resource.

About the Car Care Association
The Vehicle Care Affiliation is the voice of the car care industry, a $400 billion in addition industry comprised of a lot more than 4.4 million American personnel. Giving advocacy, academic, networking, technologies, market intelligence and information sources to provide the collective pursuits of users, the Car Care Affiliation serves the entire provide chain of the automotive aftermarket: organizations that manufacture, distribute and offer motor car or truck parts, accessories, applications, equipment, supplies and supplies, and execute automobile assistance, servicing and repair service. To find out a lot more, go to www.autocare.org

About AASA
AASA (www.aftermarketsuppliers.org) solely serves manufacturers of aftermarket elements, tools and gear, and connected products, an essential aspect of the automotive components producing business which supports 871,000 American work opportunities. AASA is a regarded sector adjust agent – advertising and marketing a collaborative market atmosphere, supplying a forum to handle troubles and serving as a valued resource for customers. AASA is the light-weight automobile aftermarket division of the Motor & Devices Brands Association (MEMA). “AASA, Connecting Associates to What Issues.” To discover far more about other strategies AASA connects customers to what issues, visit aftermarketsuppliers.org.

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