Specialty Equipment Market Growing, Reaches $36 Billion

Time: Jul 17th  2015   Copy editor: Tyrefull

The automotive specialty equipment market’s consumer spending on automotive specialty equipment parts and accessories reached $36 billion in 2014, the Specialty Equipment Market Association (SEMA) reported.

According to the 2015 SEMA Market Report, the amount is an 8% growth from 2013 and the fifth consecutive year of growth.

SEMA also reported street performance reached almost at $10 billion, light-truck climbed 9%, off-road accessory retail sales increased 8%, the Compact Performance market valued at more then $5.18 billion.

"This is an exciting time for the automotive specialty equipment industry,” said Chris Kersting, president and CEO of SEMA. “Businesses are thriving, and new technology and new ways of doing business are helping companies to succeed and grow exponentially.”
 Kersting attributes advance manufacturing systems and social media as some of the changes helping businesses.

The SEMA Market Report outlines the state of the industry with 80-page report notes to provide SEMA members with research to help their businesses and understand the industry.

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