US Automotive aftermarket will top $400 Billion by 2025
The U.S. automotive aftermarket continued its strong growth through 2021 into 2022. The market is projected to hit $400 billion by 2025.
The automotive aftermarket grew 14.8% in 2021 and is estimated to grow 8.5% in 2022. This growth contrasts with the year-over-year change of -5.3% in 2020 as the pandemic crippled industries. The resilience of the automotive aftermarket industry highlights strong and sustainable consumer demand in the US market.
“Year after year, the auto care industry continues to show its reliability,” said Bill Hanvey, president and CEO, Auto Care Association. “In the midst of the highest gas prices on record and an inflation rate at a 40-year high, coupled with persistent supply chain disruptions and war in Eastern Europe, Vehicle Miles Driven, Vehicles in Operation, and consumer spending all increased in 2021 and are projected to increase into the coming years as well.”
This above data is from the 2022 Joint Channel Forecast (JCF). The JCF is prepared annually by S&P Global as part of a collaboration between the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA). It serves as the single, most reliable estimate for the industry. The full report is available for AASA members here.
AASA (Automotive Aftermarket Suppliers Association) are co-owners of the Automotive Aftermarket Products Expo (AAPEX). AAPEX represents the $740 billion global automotive aftermarket industry and is where you can connect with the entire auto aftermarket. Historically, more than 70,000 buyers attend AAPEX and the SEMA Show and KLONDIKE will be attending to highlight our products and innovations to the North American market. Make sure you come and find us on level 2 of the Venetian Expo.
AAPEX
NOVEMBER 1–3, 2022
LAS VEGAS, NV | THE VENETIAN EXPO
KLONDIKE Booth A5653
EXHIBIT HOURS:
Tuesday November 1, 2022 9:00 a.m. – 5:00 p.m.
Wednesday November 2, 2022 9:00 a.m. – 5:00 p.m.
Thursday November 3, 2022 9:00 a.m. – 5:00 p.m.
https://www.aapexshow.com
