The Specialty Equipment Automotive Company of the Future: Guideposts for Strategic Planning

Full Description:

TheSpecialty Equipment Market Association (SEMA) and the Center for Automotive Research (CAR) have engaged in a multi-phased project to create business strategy guideposts for SEMA members. The first report in the program—The Specialty Equipment Company of the Future: Guideposts for Technology Forecasting and Strategic Planning—identifies strategic challenges for SEMA and its member companies in the mid-term (3-7 years). The information presented is based on a series of interviews with thought leaders from vehicle manufacturers (VMs), original equipment (OE) parts suppliers, specialty equipment (SE) suppliers, and other auto industry stakeholders. These interviews were supported by literature reviews and other data gathering techniques.

CAR and SEMA, through discussions with industry thought leaders, have identified six topics (or research areas) that are critical to the long-term success of the specialty equipment market. These six are:

1. Vehicle manufacturers‘ specialty equipment market strategies
2. Length and volume of model runs
3. Order complexity and limiting options at the assembly plant
4. Product safety-related legal obligations faced by specialty equipment suppliers
5. Body chassis electrical/electronics and the specialty equipment market
6. Opportunities in the connected vehicle market for specialty equipment suppliers

It is the premise of this project that some SE suppliers are interested in working more closely with—or at least gaining a better understanding of—the vehicle manufacturers‘ plans. Furthermore, while it is certain that many SE suppliers do not wish to do business directly with the vehicle manufacturers, it is equally certain that how vehicle manufacturers view the SE market, and plan for specialty equipment on their vehicles, will be important to all SEMA member companies in the coming years. From interviews and associated public sources, CAR researchers further identified five vehicle manufacturer strategies that will be important for SEMA member companies to understand, and proactively act upon, over the next five years.

CAR and SEMA, through discussions with industry thought leaders, have identified six topics (or research areas) that are critical to the long-term success of the specialty equipment market.