New Research: Auto Care Industry Expected to Grow Nearly 25%, Reach $477.6 Billion by 2024
By Camille Sheehan
Auto Care Association releases annual flagship publications 2022 Auto Care Factbook and 2022 Auto Care Factbook & Lang Annual, providing comprehensive research, analysis and trends for the automotive aftermarket
BETHESDA, Md. – June 9, 2021 – The Auto Care Association today 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 United States 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); and
- PLUS 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 many of the latest numbers included in the report through the association’s Auto Care TrendLens™ interactive data platform. There, members can drill down on data points, and filter and overlay with other data sets to get the full picture of the industry.
“The COVID-19 pandemic is not the first time the auto care industry has proved its resiliency during economic hardship,” said Bill Hanvey, president and CEO, Auto Care Association. “Our industry growth continues to exceed expectations—despite recent challenges—and we’re confident that the new opportunities emerging from the past year will strengthen our future. This year’s Factbook equips readers with the latest data and in-depth industry analysis needed to navigate their business decisions with confidence and clarity.”
The 2022 Auto Care Factbook & Lang Annual includes the Auto Care Factbook plus the Lang Annual, which provides a supplemental, comprehensive overview of the U.S. light vehicle aftermarket and presents information and analysis available from no other source.
All Auto Care Association contacts at member companies receive a complimentary digital copy of the 2022 Auto Care Factbook report as a member benefit. The non-member price for the publication is $2,450. The Auto Care Factbook & Lang Annual report can be purchased for $995 for members and $3,445 for non-members.