Snowplow Manufacturing in the US - Industry Market Research Report
Description
Snowplow Manufacturing in the US
Snowplow manufacturers have faced considerable headwinds over the current period. The outbreak of COVID-19 hammered manufacturers as economic uncertainty disincentivized downstream consumers and businesses from making large purchases. Municipalities' budgets focusing on pandemic-related response programs also subdued growth in 2020. Imports only declined moderately as downstream markets looked to less expensive products. While manufacturers enjoyed a strong recovery in 2021, interest rate hikes in 2022 and 2023 have stifled spending on new snowplows. Industry-wide revenue has been falling at a CAGR of 0.5% over the past five years and is expected to total $1.1 billion in 2023, when revenue is projected to jump an estimated 1.4%.
This industry manufactures snowplows and spreaders, which are devices mounted on vehicles to remove snow and ice from outdoor surfaces. Products vary based on intended purpose and vehicle size. Most companies offer light-duty, heavy-duty and utility vehicle plows. The industry does not include lawn- and garden-type snow-moving equipment.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Snowplow manufacturers have faced considerable headwinds over the current period. The outbreak of COVID-19 hammered manufacturers as economic uncertainty disincentivized downstream consumers and businesses from making large purchases. Municipalities' budgets focusing on pandemic-related response programs also subdued growth in 2020. Imports only declined moderately as downstream markets looked to less expensive products. While manufacturers enjoyed a strong recovery in 2021, interest rate hikes in 2022 and 2023 have stifled spending on new snowplows. Industry-wide revenue has been falling at a CAGR of 0.5% over the past five years and is expected to total $1.1 billion in 2023, when revenue is projected to jump an estimated 1.4%.
This industry manufactures snowplows and spreaders, which are devices mounted on vehicles to remove snow and ice from outdoor surfaces. Products vary based on intended purpose and vehicle size. Most companies offer light-duty, heavy-duty and utility vehicle plows. The industry does not include lawn- and garden-type snow-moving equipment.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
46 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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