Auto Care Industry Expected to Reach $477.6 Billion by 2024 - Transmission Digest

Auto Care Industry Expected to Reach $477.6 Billion by 2024

The Auto Care Association has 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.

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,” Hanvey concluded.

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.

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