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Wednesday, 09 June 2021 16:12

Research Shows Auto Care Industry Expected to Reach $477B by 2024

Written by Camille Sheehan, Auto Care Association

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The Auto Care Association on June 9 released its award-winning and industry-leading online publications, the 2022 Auto Care Factbook and the 2022 Auto Care Factbook & Lang Annual. 

The annual reports are the go-to source for automotive aftermarket industry data and include critical insight for aftermarket businesses to make informed, data-based decisions for the future.

 

This 31st edition of the Auto Care Factbook report provides new data and insight on how the auto care industry fared from the COVID-19 pandemic, emerging consumer and industry trends, international market performance and more.

 

While the total U.S. auto care industry size took a hit in 2020, the industry fared better than forecasted and is now expected to be a $477 billion industry by 2024.

 

Industry shifts during COVID-19 have presented new opportunities for the aftermarket, including increased e-commerce growth, increased delays in vehicle maintenance; an increase in the average age of vehicles in operation, an increase in vehicle miles driven nearing pre-pandemic levels and more.

 

In this 142-page Auto Care Factbook report, readers will find:

 

  • New e-commerce section including trends and sizing of this important aspect of the aftermarket including penetration and product category performance standouts (pg. 61)
  • Expanded data and insights on hybrid, electric and fuel cell vehicles including adoption rates, replacement rates for selected parts, registrations and state incentive data (pg. 86)
  • Expanded medium and heavy duty vehicle data including vehicle counts, proportions, registrations and demand by distribution channel and growing component subgroups (pg. 68)
  • Expanded replacement rate data, from 94 to 184 parts and jobs (pg. 56)
  • Expanded international section, including highlights of the Mexican, Chilean and Vietnamese aftermarkets, including VIO and other pertinent stats (pg. 120)
  • Guidelines on how to use TrendLens™ to interactively compare data series with our trend comparison tool
  • And more. View the full table of contents here.

 

The 2022 Auto Care Factbook also provides Auto Care Association members access to...


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