The National Truck Equipment Association (NTEA) says its newly released Annual Manufacturers’ Shipments Survey (AMSS) Report reveals truck equipment industry shipments increased 15.9% in 2018—a significant acceleration from a 2.9% climb the previous year.
The 20th edition of the publication, featuring 2018 data, is designed to enable the industry to estimate market size by dollars and units for 77 product lines. NTEA collects and evaluates aggregate results based on data submitted from 93 participating companies, so the commercial vehicle community can lean on directional guidance from this report to help assess business performance.
“Beyond insights into annual growth, AMSS offers reliable market size data in terms of dollars and units,” said Steve Latin-Kasper, NTEA director of market data and research. “It’s a powerful tool that aligns with our mission of furthering industry knowledge, growth and profitability by helping companies in the work truck sector effectively evaluate market potential and develop sound strategic plans.”
This resource can help users:
- Better approximate market size
- Learn how much the market grew (in terms of units/dollars)
- Determine whether or not their company kept pace
- Compare their business to the industry as a whole
Following the pattern of previous studies, product line growth rates varied considerably, NTEA said. For 2018, data suggests some were down, while others made gains more quickly than the industry overall. Annual percent change can be calculated for each market segment, as NTEA publishes AMSS data in unit and dollar terms and provides indexes.
Industry companies are encouraged to use report findings to support annual business planning processes. Companies that participated in the survey receive a complimentary print copy of the report.