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Friday, 18 June 2021 22:35

Segments of Specialty-Equipment Industry See Growth During Pandemic

Findings from the new “SEMA State of the Industry—Spring 2021” report indicate the majority of businesses in the automotive specialty-equipment industry saw significant sales growth during the pandemic. Findings from the new “SEMA State of the Industry—Spring 2021” report indicate the majority of businesses in the automotive specialty-equipment industry saw significant sales growth during the pandemic.

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The automotive specialty-equipment industry has largely weathered the pandemic, with many companies reporting sales growth over the past year and anticipating continued growth in the coming months, according to new SEMA Market Research.

Findings from the new “SEMA State of the Industry—Spring 2021” report indicate that the majority of businesses saw significant sales growth during the pandemic: 66% of manufacturers, 60% of distributors and 40% of retailers/installers reported increased sales compared to 12 months ago, and nearly three-fourths of all manufacturers and distributors expect sales to increase over the coming year.  

 

Filled with data on how the pandemic has impacted businesses in the automotive specialty-equipment industry, the 63-page market research report helps companies understand how the market is performing. Key findings from the report include:

 

The specialty-equipment industry saw minimal staffing disruption because of the pandemic, with most maintaining or growing staffing levels. Additionally, 83% of manufacturers, 77% of distributors and 63% of retailers/installers plan on hiring more staff over the coming year.

 

Many companies selling in the pickup, sports car and classic segments reported double-digit growth in the past 12 months.

 

Manufacturers saw sales increase across many channels, especially direct-to-consumer through their company website and at independent specialty retailers.

 

The industry saw growth across a variety of product categories. Manufacturers and retailers saw significant sales growth in...


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