US equipment-makers hopeful of double-digit growth, says Association of Equipment Manufacturers’ survey.
A survey by Association of Equipment Manufacturers in the US has revealed that the outlook for the construction equipment industry has improved and that equipment-makers say expect to finish 2010 with an 8% increase in US sales.
This will rise to 14% next year and 2012, and 13% in 2013. Outside of the US and Canada, sales to the rest of the world are expected to be up 14% this year and then increase 11% next year, 12% in 2012, and 11% in 2013.
The industry has some of Wisconsin’s biggest manufacturers, including Manitowoc Co. and Oshkosh Corp.
The survey asked companies such as including Manitowoc and Oshkosh to rank several factors that influence sales, including the general economy, credit availability and exports.
“While this rebound is welcome, you have to remember our industry was down 30% to 50% in the recession. Although business is improving, it will take years to recover the sales losses of 2008 and 2009,” said AEM President Dennis Slater. “If there’s slight improvement in road-building, there’s not long-term certainty that will give companies confidence to buy equipment.”
