|The restoration market is expected to continue to grow as the average age of
vehicles on the road continues to increase, classic cars gain in
popularity and Baby Boomers have more discretionary money to purchase
As the world’s premier automotive specialty-products trade show, the 2010 SEMA Show, held at the Las Vegas Convention Center from November 2–5, attracts more than 100,000 industry leaders from more than 100 countries and also provides a unique opportunity for buyers and exhibitors to connect.
The Show covers the entire realm of the specialty-equipment industry and is comprised of 12 categories: Global Tire Expo—Powered by TIA; Hot Rod Alley; Mobile Electronics & Technology; Paint, Body & Equipment; Powersports & Utility Vehicles; Racing & Performance; Restoration Marketplace; Restyling & Car Care Accessories; Tools & Equipment; Trucks, SUVs and Off-Road; Wheels & Accessories; and OEM.
Each will be highlighted separately every week in SEMA eNews. This week’s category is Restoration Marketplace. So far, 60 automotive restoration companies—of which 13 are first-timers—are exhibiting in the Central Hall.
The restoration market includes the products and services used in returning vehicles, particularly classics, to their originally manufactured or showroom condition. Many of these products are refurbished original parts, others are salvaged parts and some are reproductions.
This market is expected to continue to grow as the average age of vehicles on the road continues to increase, classic cars gain in popularity and Baby Boomers have more discretionary money to purchase these vehicles. It is estimated there are approximately 300,000 restoration projects in various stages of completion across the United States at any given time.
Four primary vehicle groups are typically found within the restoration market: antiques manufactured prior to 1920, domestic vehicles manufactured from 1920 to World War II, post-World War II domestic vehicles and foreign vehicles.
In 2009, 43% of SEMA Show buyers reported selling to the restoration market. In 2006, the restoration market’s retail worth was estimated at $1.418 billion. This market comprises about 3.67% of the entire automotive specialty-equipment market. Due to the limited use and small volume of antiques and collector cars, they are exempt from emissions inspection. Defined as 25 years or older, antique or collector vehicle classifications usually contain limited-use provisions that restrict the vehicle to club events, parades or other hobby-related activities.
"The restoration market hosts a lot of great events, including the Hotrod & Restoration Show and the Hershey Car Show," said Peter
MacGillivray, SEMA vice president of communications and events.
"Restoration is a value proposition to the SEMA Show because
participation from around the world truly makes it a global event. This
section of the Show represents an unparalleled opportunity for
networking and education with an international emphasis."