Snowplow Manufacturing in the US - Industry Market Research Report

Snowplow Manufacturing in the US - Industry Market Research Report

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.