North American Cargo Management Aftermarket

  • May 2013
  • -
  • Frost & Sullivan
  • -
  • 199 pages

Smaller Vehicles will Drive Demand for Storage and Towing Accessories

This research service analyzes cargo management accessories in the automotive aftermarket in the United States and Canada. It includes unit shipment and revenue forecasts, pricing analyses, distribution channel analyses, market share analyses, and market drivers and restraints. The base year is 2012, and there are forecasts provided from 2013 through 2019. Also, There is historical data provided for 2009 through 2011. Products are segmented into hitch-mounted accessories, roof-mounted accessories, and others, with additional analysis as warranted for some specialized products, such as toolboxes.

Key Findings

Changes by OEMs, including increased production of smaller vehicles and the de-contenting of cargo management features, will attract new customers to this market.
1. Total market revenue will increase from $Xmillion in 2012 to approximately $X million by 2019, a compound annual growth rate of X%.
2. The decreasing size of new vehicles—driven by consumers’ desire to save gas and OEMs’ need to achieve strict fuel economy standards—will be the biggest factor driving demand for cargo management accessories.
3. Hitch-mounted accessories represent aboutX% of revenue, while roof-mounted products account for X% and toolboxes/others make up X%. Each segment will grow at about the same rate over the forecast period.
4. Internet retailers account for Xto X% of total revenue, but are on track to double their share over the next Xto Xyears because of low prices, attractive merchandising, and free shipping.
5. Rising raw materials costs will drive average prices X% higher each year.
6. Slowing growth rates in outdoor sports and recreation activities—following a decade of steady increases—and increasing price sensitivity of distributors and consumers will emerge as the biggest restraints to higher revenue.
7. The Thule Group, The Cequent Group, and Yakima Products Inc. are the only full-line cargo management suppliers, accounting forX% of 2012 revenue.

Comparative Analysis by Country

Differences in demand between the United States and Canada tend to offset each other.

United States
Product Mix
• Demand for hitch-mounted products higher because of larger share of pickup trucks
• Larger selection of brands, particularly discount labels, because of country size
Distribution Channels
• Jobbers/installers, mass merchants, and specialty outdoor retailers represent majority of sales
• Large presence of discount retailers selling lower-priced accessories
• Growth in sales through Internet retailers
• Revenue will increase by X% annually over the 2012 to 2019 period, driven equally by increasing unit shipment demand and higher prices

Product Mix
• Demand for roof-mounted products higher because of larger share of small cars
• Greater preference for premium brands
Distribution Channels
• Jobbers/installers, sporting goods retailers, and specialty outdoor retailers represent a majority of sales
• Low participation among automotive retailers
• Growth in sales through Internet retailers
• Revenue will increase by X% annually over the 2012 to 2019 period, driven equally by increasing unit shipment demand and higher prices

Key Conclusions and Future Outlook

The biggest change in this category is the increasing share of revenue for Internet retailers.

Market Status
• Market in rebound from 2008–2009 financial crisis, economic recession, which caused steep declines in demand for some products
• High growth over historical period
• Slow, incremental growth based on decreasing size of vehicles
• No major changes offering prospects for higher growth

• Nearly half of total revenue consolidated by three participants (Thule, Cequent, Yakima).
• Decreasing competition from OEMs, including receiver hitches and roof carrier systems on new vehicles, to improve prospects for aftermarket suppliers
• Market leaders facing no major competitive threats
• Increasing participation of low-cost producers in some categories

• Internet retailers represented X% of revenue in 2012.
• High dependence on specialty outdoor retail, mass merchant, and sporting goods retail channels to sell most products
• Internet sales will double over the next 10 years as more bricks-and-mortar retailers reduce their participation and inventories of cargo management products pushing customers to online sellers

• Rising raw materials costs and increasing sales of premium accessories supporting weighed average prices
• Increasing price sensitivity from leading distributors to pose a threat to supplier profits

Product Types
• High growth for hitch-mounted accessories because of rebounding light truck sales
• Toolboxes, receiver hitches, and snow sport carriers are fastest-growing products
• Increasing sales of compact cars to support higher growth rates for roof-mounted accessories
• Cargo boxes, receiver hitches, and bicycle carriers are the fastest -growing products

Key Questions This Study Will Answer

• What is the outlook for cargo management accessories in the near and medium terms?
• Which market segments are growing the fastest and why?
• Which distribution channels are growing the fastest and why?
• How will changes in new vehicle models impact demand for cargo management accessories?
• Which suppliers are best positioned for growth in the future and why?

Table Of Contents

Table Of Contents

1. Executive Summary
2. Research Scope, Objectives, Methodology, and Background
3. Definitions and Segmentation
4. Market Overview
5. Total Cargo Management Aftermarket
• External Challenges: Drivers and Restraints
• Forecasts and Trends
• Market Share and Competitive Analysis
6. Receiver Hitches Aftermarket
7. Roof Carrier Systems Aftermarket
8. Bicycle Carriers Aftermarket
9. Snow Sport Carriers Aftermarket
10. Water Sport Carriers Aftermarket
11. Cargo Boxes Aftermarket
12. Cargo Trays Aftermarket
13. Soft-sided Carriers Aftermarket
14. Light Truck Toolboxes Aftermarket
15. Conclusions and Future Outlook
16. Appendix

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