SEMA eNews Vol. 23, No. 47, November 19, 2020

New Research Shows Industry Expects Return to Pre-Pandemic Levels by Mid to Late 2021

By Kyle Cheng

  Market Research
In the new “SEMA State of the Industry” report, SEMA Market Research looks at the current state of the specialty-equipment industry, including how companies have adapted to the virus, current sales and forecasts, industry trends, and outlook for the future.
   

Despite the disruption from the virus, 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 next year, and 90% think it will be back by the end of 2021 at the latest.

In the new “SEMA State of the Industry” report, SEMA Market Research looks at the current state of the specialty-equipment industry, including how companies have adapted to the virus, 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 expect 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? Download the new “SEMA State of the Industry – Fall 2020” report today at  www.sema.org/research.

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