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Vehicle Downsizing Helps Sustain North American Cargo Management Aftermarket Finds Frost & Sullivan - Smaller vehicles create demand for storage and towing accessories - Automotive.Frost.com
Vehicle Downsizing Helps Sustain North American Cargo Management Aftermarket Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2013/10/10 - Smaller vehicles create demand for storage and towing accessories - Automotive.Frost.com.

   
 
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Consumer desire to save on gas costs as well as original equipment manufacturer (OEM) need to comply with strict fuel economy standards is leading to the downsizing of vehicles. As a consequence, this has heightened the demand for cargo management accessories to enhance the carrying capacity of smaller automobiles. The North American cargo aftermarket will continue to grow as established suppliers develop premium product lines and commerce moves to online channels.

New analysis from Frost & Sullivan (automotive.frost.com), North American Cargo Management Aftermarket, finds that the market earned revenue of $581.2 million in 2012 and estimates this to reach $771.0 million in 2019. The study covers hitch-mounted and roof-mounted units such as receiver hitches, bicycle carriers, snow sport carriers, cargo boxes, cargo trays and water sport carriers, along with light truck toolboxes, trunk-mounted bicycle carriers, bed-mounted bicycle carriers, and soft-sided carriers.

If you are interested in more information on this research, please send an e-mail to Jeannette Garcia, Corporate Communications, at jeannette.garcia[.]frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

The de-contenting of cargo management features will provide new opportunities for aftermarket suppliers to sell towing and storage accessories, widening the market’s prospects.

“Rebounding light truck sales will support hitch-mounted accessories, while projected growth in compact cars will boost sale volumes of roof-mounted carriers,” said Frost & Sullivan Automotive and Transportation Program Leader Stephen Spivey. “Toolboxes will contribute the highest to overall market revenue.”

Receiver hitches and roof racks are less likely to be included as standard equipment in new vehicles, broadening the business scope of independent aftermarket and original equipment service channel suppliers. The popularity of new, universal-fit products and premium accessories will add to market income.

However, fluctuating seasonal weather conditions and slow growth in the core customer base of outdoor sports enthusiasts can compound the existing challenges of managing inventories, introducing new products, and finding customers. For instance, the recent warm winters have reduced participation in outdoor sports and recreation, cutting down demand for roof racks, bike racks, ski racks and other such products.

Over the short to medium term, consumers are also likely to limit or eliminate discretionary purchases, such as vehicle accessories, due to the sluggish economy. Building alternate channels to market products and reduce costs is crucial to sustain growth.

“Internet retailers accounted for 4 to 5 percent of total revenue in 2012 and are on track to double their share over the next five to seven years,” noted Spivey. “Amazon.com is emerging as a major seller of cargo management accessories, particularly for smaller market participants lacking distribution channels through big retail chains and dealerships.”

North American Cargo Management Aftermarket is part of the Automotive & Transportation Growth Partnership Service program. Frost & Sullivan’s related research services include: North American and European Tire Pressure Monitoring System Aftermarket; Building Product Awareness, Trial and Loyalty in the North American Automotive Aftermarket through the Development of Internet Apps; North American Market for Carsharing Services; and U.S. Automotive Technicians’ Choice for Automotive Tools. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on “the next big thing" | Register: Gain access to visionary innovation

North American Cargo Management Aftermarket / NC30-18

 
 
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Vehicle Downsizing Helps Sustain North American Cargo Management Aftermarket Finds Frost & Sullivan

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Cargo Mngt Aftermarket | Frost & Sullivan
Contact: Jeannette Garcia - Frost.com 
210-477-8427 jeannette.garcia[.]frost.com
 
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