FOR IMMEDIATE RELEASE
Director of Communications & Public Relations
FARMINGTON HILLS, Mich. (Aug. 24, 2022) — NTEA’s newly released Annual Manufacturers’ Shipments Survey (AMSS) Report (23rd edition) indicates the 2021 bounce out of the 2020 recession led to a truck equipment industry increase of 16.2% in terms of dollar value shipped, after –15.8% growth in 2020. This publication, featuring 2021 data, enables the industry to estimate market size by dollars and units for 76 product lines. NTEA collects and evaluates aggregate results based on data submitted from 92 participating companies. The resulting report offers directional guidance to help commercial vehicle manufacturers and distributors assess business performance.
Consistent with historic results is significant variation in product line growth rates. Most were up for the year, but some declined. In unit terms, there were more decreases, which is reflective of chassis availability and supply chain issues.
“This report continues to serve as an important business planning tool for the commercial vehicle community,” said Steve Latin-Kasper, NTEA senior director of market data and research. “AMSS data contributes to the accuracy of industry market segment analysis by making it possible to understand how various data sets are connected to each other, and also contributes to an understanding of market size and how product markets and the total industry change over time.”
This resource can help
- Evaluate approximate market size
- Assess changes in market growth (in terms of units/dollars)
- Provide insights in determining your company’s market share
There are a number of ways to estimate the size of the commercial truck and truck equipment industry. However, dollar measurement is required in order to compare the industry’s contribution to the larger manufacturing and wholesale trade economic sectors. NTEA publishes AMSS data in unit and dollar terms and provides indexes, enabling accurate annual percent change calculation for each market segment. Companies are encouraged to use report findings to support annual business planning processes.
Survey participants receive a complimentary AMSS report as well as a data tool containing results in an Excel spreadsheet for easier manipulation. Learn more and purchase ($299 NTEA members, $599 nonmembers) at ntea.com/amss. If interested in participating in the next AMSS survey, email email@example.com.
Established in 1964, NTEA – The Association for the Work Truck Industry, a 501(c)(6) organization, represents more than 2,000 companies that manufacture, distribute, install, sell and repair commercial trucks, truck bodies, truck equipment, trailers and accessories. Buyers of work trucks and the major commercial truck chassis manufacturers also belong to NTEA. The Association provides in-depth technical information, education, and member programs and services, and produces Work Truck Week®, Green Truck Summit, Commercial Vehicle Upfitting Summit, and Executive Leadership Summit. The Association maintains its administrative headquarters in suburban Detroit and government relations offices in Washington, DC, and Ottawa, Ontario, Canada.
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