Total U.S. Automotive Aftermarket Sales Forecasted To Increase 11.2% in 2021

Forecast: Total US Aftermarket Sales To Increase 11.2%

AASA/Auto Care's Joint Channel Forecast Model details a strong aftermarket recovery and indicators for continued growth.

The automotive aftermarket proved its resiliency once again with a stronger than expected performance in 2020, despite the global COVID-19 pandemic, and is anticipated to recover robustly in 2021. Total United States light-duty automotive aftermarket sales are forecasted to increase 11.2% in 2021, totaling $325 billion, according to the “2021 Joint Channel Forecast Model” produced jointly by the Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association. This data was initially released in a joint, member-exclusive webinar led by Shane Norton of IHS Markit on June 7, 2021. 

An additional 5.3% growth is expected for 2022 and growth will average more than 4% in 2023 and 2024, bringing the light-duty aftermarket to $372 billion. 

“The aftermarket has once again proved its toughness, and the pandemic affected the aftermarket less severely than other industries and even less than forecasted within our own industry,” said Paul McCarthy, president and COO, AASA. “The Joint Channel Forecast shows that the continued success and resilience of the aftermarket will only continue in upcoming years. Right now, aftermarket suppliers are dealing with the challenging impacts of a boom, including supply chain disruptions, yet the forecast shows continued strength for the aftermarket well into the future.” 

“Increased reliance on personal transportation coupled with shifts in consumer purchase and maintenance behavior primes the aftermarket for continued growth,” said Bill Hanvey, president and CEO, Auto Care Association. “The pace at which consumers return to normal mobility patterns will also dictate the future growth of our industry. Indicators suggest that consumers will continue to hold on to their older vehicles, which creates further opportunity for the aftermarket. COVID-19, while a challenge, was a catalyst for many of the tailwinds we’re experiencing today.”  

Key data in the joint channel forecast model include:  

  • Market trends influencing the aftermarket;  
  • A 2020-2024 review of industry growth and forecasts; 
  • Industry sales by channel including history and forecasts;  
  • Industry sales by distribution channel; and more.  

The market sizing and forecast are conducted on behalf of AASA and the Auto Care Association by IHS Markit, a leading business intelligence firm. The forecast is based on the U.S. Census Bureau’s Economic Census, IMR Inc., and proprietary data, economic analysis and forecasting models from IHS Markit. 

The Joint Channel Forecast Model is available at the AASA website, www.aftermarketsuppliers.org, and in the Auto Care Association’s 2022 Auto Care Factbook at digital.autocare.org/2022factbook

You May Also Like

National Auto Body Council Welcomes Empire Auto Parts

Empire operates from 39 locations throughout 24 states in the eastern U.S. with an inventory of more than 48,000 SKUs.

National Auto Body Council Welcomes Empire Auto Parts

The National Auto Body Council Body®  announced Empire Auto Parts has joined the organization as a level two partner. Empire operates from 39 locations throughout 24 states in the eastern U.S. with an inventory of over 48,000 SKUs.

As a level two partner, Empire Auto Parts will work alongside a consortium of collision repair facilities, rental car companies, parts and materials providers, insurance companies, automotive recyclers, salvage companies, towing companies, industry consultants and more to serve communities across the country with programs that help change and save lives every day, according to the NABC.

Auto Care Association Certified as a Great Place to Work

“This prestigious award is a testament to the association’s commitment to creating an inclusive, supportive and dynamic work environment for its employees,” Auto Care said.

Auto Care Great Place to Work
NTEA Installs Jason Ritchey as 60th Board Chair

Ritchey has spent nearly 25 years in the work truck industry, and has served as president and owner of Curry Supply Co. since 2011.

NTEA Board Installs Jason Ritchey as 60th Board Chair
YANG Holds Regional Meetup in Conjunction with CAWA Forum

Sponsored by GB Remanufacturing, the event took place on Feb. 22 at the Silverado Resort & Spa in Napa, California.

YANG Regional Meetup
MEMA Welcomes Susan Pase in Strategic Retainer Agreement

Pase’s expertise spans many areas, including navigating industry trends, formulating strategies and increasing customer engagement.

MEMA Welcomes Susan Pase in Strategic Retainer Agreement

Other Posts

2024 Auto Care Connect Conference Keynote Speakers Announced

This year’s guest speakers will be Armida Ascano, Dr. Peter Fader and Lt. Col. Dan Rooney.

Auto Care Connect
Auto Care Voices Support for FTC, DOJ Comments on Right to Repair

The agencies asserted that renewing and expanding repair-related exemptions would promote competition in markets for replacement parts, repair and maintenance services.

bill hanvey right to repair
MEMA Celebrates 120th Anniversary

MEMA said the milestone “underscores the association’s enduring legacy and its pivotal role in advancing the future of mobility and the interests of vehicle suppliers.”

Registration for ACC Annual Meeting Open

Early bird registration is open for the Automotive Communications Council’s 2024 meeting from May 21-23 in Cleveland, Ohio.

Automotive-Communications-Council-2024-Meeting