Specialty equipment sales stay strong

A solid majority of specialty-equipment manufacturers are seeing growth despite supply chain issues, according to a recent report.

The State of the Industry — Fall 2021 report from the Specialty Equipment Market Association (SEMA) found that 70 per cent of manufacturers reported sales growth even with the back backdrop of a global supply chain shortage.

Most businesses, the group reported, are maintaining a positive outlook for the year ahead. More than 80 per cent of them are expecting sales to be stable or growing over the coming year.

Some key findings from the report include:

• While some businesses struggled at the beginning of the pandemic last year, primarily retailers, most were able to adjust. Manufacturers have done well, reporting an average of 19 per cent sales growth over the past 12 months.
• Supply chain disruptions are creating some uncertainty. In the spring of 2021, 70 per cent of specialty-equipment manufacturers and 75 per cent of distributors expected their sales to grow over the coming year. Those percentages, however, have fallen to 58 per cent and 52 per cent respectively.
• The temporary shifts towards online sales that were made necessary by the pandemic are continuing to reverse. Many specialty equipment parts sales are once again flowing through in-person retail channels.