DIAMOND BAR, Calif. — About 49% of all late-model pickups are modified with specialty-equipment parts and tires, according to new research from the Specialty Equipment Market Association (SEMA).
"The pickup truck market is the largest segment of the specialty-automotive aftermarket and a key opportunity for businesses," Gavin Knap, SEMA director of market research, said.
The "2022 SEMA Pickup Accessorization Report" provides a review of how the pickup-accessorization landscape is evolving, including sales forecasts and types of parts pickup accessorizers buy and how they buy them.
Additional findings from the report include:
- Pickup owners spent $16 billion on specialty-equipment parts in 2021;
- There are more than 29 million late-model (2010 and newer) pickups on the road, and about half of them are modified;
- 62% of late-model pickup accessorizers buy off-road-focused parts for their truck;
- 84% of late-model pickup accessorizers plan to make additional modifications in the near future; and
- 45% of specialty-equipment businesses see electric pickups as an opportunity.
As pickups remain the single-biggest segment in the specialty-equipment parts market, SEMA said the report will help businesses learn more about pickup owners, what they do after their parts are installed and analysis of the emerging markets for compact and electric pickups.
The report is available for download at sema.org/research.