More than two million Americans will buy a full-size truck this year. The average full-size truck owner will spend $2,000 on aftermarket products for their trucks and almost 20 percent will spend up to $4,800. Not only do these consumers personalize their trucks, but they are spending more each year. SEMA reports that the aftermarket for light truck accessories grew nine percent in 2014 and is on pace for similar growth this year.
It’s a great time to be providing products for the light-truck aftermarket and new products are being released at an increasing pace. At this year’s SEMA show in Las Vegas more than 380 new products for light trucks will be introduced, the most ever. More than half of new light-truck buyers will accessorize the bed of their truck – 43 percent will add a tailgate protecter and 48 percent will add a spray-in bedliner. What’s more, one of the largest online auto part retailers, AutoAnything.com reports that one of their top five truck accessories categories is bike racks.
Jared Pugh, president of Rock and Roll Offroad in North Richland hills, TX was recently quoted, “People are spending their money on functionality and products that give them a certain look but also good quality. Everybody is concerned now about getting a good, solid product.” Sage Carli, owner of Carli Suspension, agrees, “People want the best components they can get for their money. Consumers definitely want parts and products that bring good bang for the buck but also do exactly what they’re supposed to do. Higher-end components are actually starting to fare better with the general public, regardless of price. I think that the economy is definitely getting stronger.”
When Hoodworks surveyed the aftermarket, we found both a massive opportunity but a dearth of genuine innovation. As Hoodworks’ General Manager, Matthew Bader, put it, “There are hundreds of new products and dozens of variations on every accessory conceived, but there is a theme of incremental improvement, not of inside out, upside down Innovation, particularly for the outdoor enthusiast.” Hoodworks is developing a truly unique, high quality set of products for outdoor enthusiasts who are looking to improve the functionality of their trucks, as well as provide a distinctive visual character.