Despite the disruption from the pandemic, new research shows that the specialty-equipment industry is bouncing back and optimistic for the future.
Approximately 70% of companies think the industry will be back to its pre-pandemic levels by the middle of 2021, and 90% think it will be back by the end of this year the latest.
In the new “SEMA State of the Industry – Fall 2020” report, SEMA Market Research looks at the current state of the specialty-equipment industry, including how companies have adapted, current sales and forecasts, industry trends, and outlook for the future.
Most companies met or exceeded their sales goals in Q3 2020: 79% of manufacturers, 70% of distributors, and 69% of retailers.
- 55% of companies expected their 2020 sales to finish higher or at least the same as 2019.
- 93% of companies report being mostly business as usual or only impacted short term.
- Despite the pandemic, in-store and physical channels continue to drive our industry’s sales and outpace online sales.
Want to learn more about the current state of the specialty-equipment industry?