The 3.7% combined annual growth of the 16 major product groups will generate $7.9 billion in additional car and light truck product sales between 2005 and 2008
Wyckoff, NJ (PRWEB) July 18, 2006
The just-released 2006/2007 Aftermarket Annual Report from Lang Marketing projects the 2005 to 2008 U.S. aftermarket performance of 16 major product groups, which represent over 55 separate products. These 16 product groups will generate nearly 80% of total car and light truck 2008 product sales and drive virtually all light vehicle aftermarket growth between 2005 and 2008.
Sixteen major aftermarket product groups, representing more than 55 separate products, will combine for 3.7% annual growth between 2005 and 2008. Five of the 16 product groups will top 4% annual growth; while three groups will suffer sales declines.
The 135-page Aftermarket Annual Report includes hundreds of aftermarket projections including the following four:
- Accessories Will Lead The Way
Accessories will record the highest 2008 dollar volume, passing $17 billion at user-price and achieving nearly $3 billion sales growth between 2005 and 2008. Accessories will outpace all product groups, with 6.2% annual growth. Light truck accessories, compact performance products, and mobile electronics will be hot performers.
- Other Growth Leaders
Brake System Products will achieve 6.0% annual growth, exceeding $8.5 billion at user-price in 2008 volume and gaining nearly $1.4 billion in sales from 2005 to 2008. Equipment for repairing cars and light trucks will rank third in average annual growth, 5.2%, followed by Tools tied with Drive Train Components, each recording the fourth-strongest rate of 4.2%.
- Other Strong Contributors and Some Losers
Heating and Cooling Components will increase at a 3.4% annual pace between 2005 and 2008, followed by Electrical System Parts, 3.3%, Gasoline Fuel System Products, 3.2%, and General Service Parts averaging 3.1% annual growth. Four of the 16 major product groups will record less than 3% annual growth; while three product groups will shrink in volume.
- Concentrated Growth Share
General Service Parts (including Batteries, Filters, Spark Plugs, and miscellaneous products) will rank second in 2008 volume, topping $12 billion in car and light truck products at user-price. Accessories, Brakes, and General Service Parts will combine for nearly 40% of total 2008 light vehicle product sales. This reflects a growing concentration of sales strength among a shrinking group of aftermarket products.
"The 3.7% combined annual growth of the 16 major product groups will generate $7.9 billion in additional car and light truck product sales between 2005 and 2008," said Jim Lang, President of Lang Marketing. "This will provide a strong growth core for the car and light truck aftermarket which we project will top $95 billion by 2008 in product sales at user-price."
About Lang Marketing:
Lang Marketing Resources is an independent market intelligence firm focusing on the car and light truck U.S. aftermarket. The monthly Lang Report® provides on-going analysis of the car and light truck aftermarket; and a variety of in-depth aftermarket reports are published on special topics. The Lang Aftermarket Annual 2006/2007 (published July 14) provides the most comprehensive overview of the car and light truck aftermarket in its 135 pages.
Jim Lang, President
Lang Marketing Resources, Inc.
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