Auto Care Industry Sets High Expectations: Projections Point to $574 Billion Growth by 2026

New research reveals a promising trajectory for the auto care industry, with an anticipated 8.1% growth in 2023, poised to reach an impressive $574 billion by 2026. Surpassing expectations, the automotive aftermarket showcased resilience in 2022, boasting a 9.7% growth despite recession concerns and supply chain hurdles, surpassing the earlier 8.8% forecast. The outlook remains optimistic, foreseeing substantial growth in 2023 (8.1%), followed by a steady 3.5%-4.0% growth from 2024 to 2026. According to the recently released 2024 Auto Care Factbook and Lang Annual by the Auto Care Association, the industry is on track to become a $574 billion market by 2026. These annual reports, a vital source of comprehensive industry data, delve into the industry's thriving landscape amidst disruptions, covering the latest consumer trends, international market expansions, and more.