A business performance element has
been included within the 2010 Industry Benchmark Report to compare how members of the specialty equipment industry have performed
over the course of the past few years. Like most of the information within the report, these items lump together the
information from participants to paint a broad picture.
The four elements within this metric compare the yearly sales performance for 2008, 2009 and the beginning of 2010
in a year-over-year format. Simply, we asked how business in one year compared to the previous year (ex. 2008 compared to
The first yearly comparison (2008 vs.
2007) was the most uniform and almost symmetric with the same amount of business reporting either stronger or weaker sales
in 2008 than in 2007. At the middle of the group, 20% of business reported having the same sales while
the remaining 80% was split.
During 2009 sales
were heavily impacted by the struggling economy with 72% of businesses having reduces sales; 44% were lower and 28% were much
lower. Only 12% of specialty equipment businesses surveyed had a positive outcome for the year.
During the tail end of 2009 and the beginning of 2010 companies began to see a
shift in market conditions and have reported a much more compliant business environment with 40% experiencing a growth in
sales compared to the previous year; 38% higher and 2% much higher. The negative side of the chart has dropped to just 18%
and 42% see sales remaining flat during this period.
Looking forwarding the majority of businesses expect a strong rebound from 2009 for the remainder of 2010. When asked
how they think the year will end 55% believe it will result in a positive swing forward. 43% of businesses think the year
will be as bad as 2009 and a small group (2%) anticipate an even worse year.