Forecast: Construction-Equipment Manufacturing will Grow

• September
• 15

1:49 am construction equipment

The construction-machinery-manufacturing industry is expected to close out this year with robust economic growth, followed by continued but more moderate gains. This according to the annual forecast of the Association of Equipment Manufacturers (AEM). Gains are expected to be strongest for.

Construction equipment markets are expected to close out with a 16.1% gain in the U.S., a 14.3% rise in Canada, and an increase of 8.8% in the rest of the world.

The market will still grow but at a slower pace: an 8.4% increase in the U.S., a gain of 6.6% for Canada and a 7.0% jump elsewhere.

The forecast covers 68 whole machine product types and 16 types of attachments and components grouped into seven broad product segments which include earthmoving, lifting, bituminous, concrete equipment for sale and aggregate equipment, light equipment, attachments and components and miscellaneous equipment.

Machinery makers cited commodity costs, most notably steel prices and availability, as a major determinant of business growth. Continued federal transportation funding is extremely important for every machine manufacturer and was a major factor noted in the survey.

Equipment rentals continue to be a major determinant of construction machinery market growth, The AEM outlook highlights the value of the U.S. dollar compared to other currencies as another factor that will impact overall equipment sales.