Construction machinery manufacturers predict overall business to close out 2010 with 8-percent growth, gaining 14.4 percent in 2011 and 14.5 percent in 2012, with 2013 growth of 13.4 percent, according to the Association of Equipment Manufacturers’ latest business outlook survey.
Canadian business overall is expected to be 9-percent higher in 2010 than the previous year, with gains of 13.2 percent in 2011, 13 percent in 2012 and 12.3 percent in 2013.
Industry business to the rest of the world is expected to be strongest in 2010 — a 14.4-percent rise — with 11.4 percent in 2011, 12 percent in 2012 and 11.2 percent in 2013.
The survey asked respondents to rank several factors that would influence sales. The current stagnant housing market is a key impediment to growth. Credit availability and highway funding are major factors as well, with increased export demand a bright spot.
“While this rebound is welcome, you have to remember our industry was down 30 to 50 percent in the recession,” said AEM president Dennis Slater. “Although business is improving, it will take years to recover the sales losses of 2008-2009. This hopeful outlook will be difficult to achieve without action now on transportation, infrastructure legislation and export-promotion policies. Infrastructure investment and export agreements are proven ways to create and maintain jobs for U.S. workers, for a sustainable recovery and meaningful uptick in equipment demand.”