MARKET RESEARCH SNAPSHOT
The State of the Specialty-Equipment Industry Remains Strong
By SEMA Market Research
The specialty-equipment industry continues to see robust sales growth. The disruption seen during the pandemic is starting to flatten, and business is returning to more normal levels. Retailers are still seeing some declines, but the situation has improved significantly.
Despite ongoing uncertainty, consumers continue to drive and spend on specialty-equipment parts. Industry performance over the past year has been strong, with sales and consumer demand both currently higher than in 2019. The disruption seen during the height of the pandemic has improved, and many companies that saw declines are reporting improvement. While higher prices, economic uncertainty, difficulty hiring and supply issues remain significant challenges, the specialty-equipment industry remains largely optimistic for the coming year.
Supply-chain issues are disruptive for the industry. Looking forward, most of the industry expects those issues to continue into 2023.
How Things Are Going for Companies/Businesses
% Said That It Is Better Than 2019
Industry sales and consumer demand are higher now than they were in 2019. However, hiring more staff and inventory/supply-chain issues remain challenging.
To learn more, download the latest SEMA State of the Industry report at www.sema.org/research.
