Light-truck product sales have grabbed an even bigger slice of the specialty-equipment industry pie in the last decade, rising 5.5% from 1996–2006, according to SEMA Market Research in its recent Light-Truck Market Update.
Even as the industry has grown, the light-truck market has increased its market share from 28.5% in 1996 to 33.9% last year. The actual sales figure more than doubled in that period, from $5.03 billion to $12.45 billion.
This is good news despite recent declines in new and used light-truck sales. This hasn’t stopped enthusiasts from modifying, though, particularly when it comes to accessory and appearance parts, a category that comprised 62.6% of light-truck accessory sales, according to SEMA research.
To read the entire Light-Truck Market Update from SEMA News, click here.
For greater insight into the specialty-equipment market, join SEMA and access timely, original research. Visit www.sema.org/research for more, including the entire 2006 Light-Truck Accessorization Report.