SEMA News—January 2023

MARKET RESEARCH SNAPSHOT

The State of the Specialty-Equipment Industry

By SEMA Market Research

State of Market

More than 90% of companies are reporting a rise in supplier and production costs, but demand and revenue remain strong. Companies are passing these costs to customers.

The specialty-equipment industry saw record-high sales over the past two years, as consumers continued to work on their vehicles during the pandemic. Although this record growth is beginning to level off and subside, sales remain solid and above pre-pandemic levels. The industry is also optimistic for the future. Despite ongoing economic uncertainty, supply-chain issues and rising costs, most companies within the industry expect sales, revenue and demand to stay the same or grow in 2023.

State of Market

The record-high growth seen over the past two years is leveling off or subsiding for businesses. However, sales remain solid and above pre-pandemic levels.

State of Market

Companies remain optimistic for the near future, with most companies expecting sales to stay the same or grow in 2023.

 

To learn more, download the new “2022 SEMA Market Report” today at www.sema.org/research.

 

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