Q&A with Sean Moran: American Eagle Sales & Marketing Manager offers his outlook on the work truck industry.
As a longtime member of the work truck industry and a manufacturer director on the 2020-2021 National Truck Equipment Association (NTEA) board, American Eagle sales and marketing manager Sean Moran offers a unique perspective on the work truck industry. We sat down with Sean to get his latest insights on the world of work trucks.
What are some of the pros you see for the work truck industry in the next year, three years?
The work truck industry is what supports the productivity and safety of companies and people who are actually providing the work that makes the American economy thrive, Mining, construction, utilities, plumbers, electricians, and any other industry or vocation which requires mobility to the work site is all supported by the work truck Industry. As the American economy grows, so will the need for work trucks.
What are some of the cons faced by the work truck industry?
Government regulations provide challenges to most industries and the work truck industry is no exception. While some regulation is required to protect the worker and the environment, the impact on compliance is felt in the cost of vehicles. However, this provides an opportunity for industry suppliers to develop more productive solutions to help offset the cost.
What is your outlook on the following industry market segments, relative to American Eagle products?
Mining: Mines are needed to provide many of the raw materials that go into construction and manufacturing. As an industry, mining bought heavily 8-12 years ago, and much of that equipment is still in operation. The coal mining market has greatly diminished due to natural gas replacing coal and most likely it will not make a significant comeback. Mining will continue to be a significant market, but it ebbs and flows due to a variety of global influences. Therefore, it is always good to maintain a presence and remain flexible to their demand cycles.
Construction: The construction market was strong and mainly hampered by labor shortage until the impact of COVID-19. It is expected to recover with the rest of the economy; however, large projects may take longer to get going due to general market confidence. If Congress gets a prudent, long-term transportation infrastructure bill passed, it will be a boost to both this segment and the economy in general.
Agriculture: The ag market was already weak, and the pandemic has cast even further doubt on when this segment will strengthen again. However, farming still continues and without new equipment being purchased, service trucks become even more in demand to help keep used equipment functioning. The key will be farmers being able to weather the prolonged downturn and stay in business.