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

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The Joint Channel Forecast Design offered by the Auto Care Association and the Automotive Aftermarket Suppliers Association facts a strong aftermarket recovery coupled with indicators for continued growth

BETHESDA, Md. and Exploration TRIANGLE PARK, N.C. , June 7, 2022 /PRNewswire/ — The automotive aftermarket continues to show its market energy with greater-than-anticipated product sales in 2021 in the wake of a sluggish financial recovery from the COVID-19 pandemic in the United States. Overall U.S. gentle duty automotive aftermarket profits are forecasted to raise 8.5% in 2022, totaling $356.5 billion, according to the “2022 Joint Channel Forecast Design” manufactured jointly by the Auto Treatment Affiliation and the Automotive Aftermarket Suppliers Association (AASA). This knowledge will be examined in a joint, member-exclusive webinar led by Shane Norton of S&P World-wide 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 progress will regular more than 3% in 2024, bringing the mild-obligation aftermarket to $401.5 billion by 2025. The compound common yearly growth level from 2019 to 2022 will be 5.7%, far more than generating up for losses viewed in 2020 owing to the pandemic.

“Yr right after year, the auto care industry carries on to show its energy and trustworthiness,” stated Monthly bill Hanvey, president and CEO, Auto Care Association. “In the midst of the greatest gas rates on history and an inflation level at a 40-yr higher, coupled with persistent supply chain disruptions and war in Japanese Europe, Motor vehicle Miles Driven, Vehicles in Procedure, and client investing all greater in 2021 and are projected to boost into the coming decades as effectively.”

“The automotive aftermarket after once again shows its resiliency with a more powerful than envisioned recovery from the pandemic,” commented Paul McCarthy, president and CEO, AASA. “In reality, the automotive aftermarket rose nearly 25% in the previous two yrs in spite of ongoing headwinds, and we are excited to see the landmark marketplace measurement of $400 billion in 2025. But as the field innovations to that landmark number, glimpse for a new problem to emerge as we may perhaps change from a current market supported by higher need and availability to a fight for market place share. With that, we will see just one far more strength of the aftermarket emerge, collaboration with the correct companions to make sure the same pace of achievement in this up coming phase of market dynamics.”

Important data in the joint channel forecast product consist of:

  • Marketplace traits influencing the aftermarket
  • A 2021-2025 critique of field progress and forecasts
  • Industry revenue by channel like record and forecasts
  • Business income by distribution channel
  • And extra.

The industry sizing and forecast are conducted on behalf of the Auto Treatment Affiliation and AASA by S&P World wide Mobility (formerly the automotive crew at IHS Markit), a main business intelligence firm. The forecast is centered on the U.S. Census Bureau’s Economic Census IMR Inc. and proprietary information, economic investigation and forecasting styles from S&P Worldwide Mobility.

The Joint Channel Forecast Model is offered in the Auto Care Association’s 2023 Auto Treatment Factbook at digital.autocare.org/2023factbook and in AASA’s Aftermarket Sizing & Forecast Report offered at https://www.aftermarketsuppliers.org/resource.

About the Auto Treatment Association
The Auto Treatment Association is the voice of the auto treatment marketplace, a $400 billion in addition sector comprised of extra than 4.4 million American employees. Furnishing advocacy, academic, networking, know-how, market intelligence and info assets to provide the collective interests of customers, the Auto Care Affiliation serves the complete supply chain of the automotive aftermarket: enterprises that manufacture, distribute and provide motor car sections, equipment, instruments, machines, components and supplies, and execute vehicle service, upkeep and mend. To master much more, go to www.autocare.org

About AASA
AASA (www.aftermarketsuppliers.org) solely serves producers of aftermarket elements, equipment and equipment, and relevant goods, an critical component of the automotive parts production marketplace which supports 871,000 American positions. AASA is a regarded business improve agent – selling a collaborative sector setting, delivering a discussion board to deal with problems and serving as a valued useful resource for members. AASA is the light auto aftermarket division of the Motor & Tools Manufacturers Association (MEMA). “AASA, Connecting Customers to What Issues.” To master more about other methods AASA connects associates to what issues, check out aftermarketsuppliers.org.

Cision Check out authentic articles to down load multimedia:https://www.prnewswire.com/information-releases/whole-us-automotive-aftermarket-product sales-forecasted-to-increase-8-5-in-2022–301563077.html

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