Companies are continually facing new challenges and pressures from the constantly changing truck equipment industry, and this is only the beginning, according to the North American Truck Equipment Industry Outlook and Strategy Report.
The National Truck Equipment Association (NTEA) recently commissioned Acclaro Growth Partners (Washington, DC) to conduct a major marketplace study to help NTEA members and industry professionals understand factors shaping and changing the industry and the implications for truck equipment firms.
"The report does not predict the future. Time alone will tell where the industry will be in five or 10 years. However, the report does state with certainty that the truck equipment industry is going through some major structural shifts that are and will likely continue creating major changes," said Jim Carney, NTEA executive director.
According to the Report, the key factors impacting the industry are:
- Technology is transforming products, services, people and processes throughout the industry and chassis manufacturers are leading the way.
- Customers of all sizes are driving changes in the truck equipment industry.
- Globalization is also changing the industry. Fuel and raw materials costs are directly affected by global demand that has an impact on operating costs and product prices.
- Consolidation of companies in the supply channel, as well as customers, is another driver of change that is also blurring the clearly defined roles between truck equipment manufacturers and distributors.
- Government at state and federal levels is passing laws and writing regulations to make trucks safer, more fuel-efficient and environmentally friendly. These actions heap heavy regulatory compliance burdens on manufacturers and distributors.
The Report, $149 for NTEA members and $299 for nonmembers, can be ordered online at the "Storefront" section of NTEA's website.
As a special offer, anyone purchasing the Report by Dec. 28 will receive a free pass to the "Surviving & Thriving: Trends Reshaping the Truck Equipment Industry" Special Session at the 44th Annual NTEA Convention and The Work Truck Show, Feb. 25-28, 2008, at the Georgia World Congress Center (Atlanta, GA).
For more information, visit www.ntea.com or call 1-800-441-NTEA (6832).