In the latest AEM outlook survey, overall construction equipment demand by year-end 2007 is predicted to decline 1.9 percent in the United States and remain flat in Canada at minus 0.1 percent, while worldwide business is anticipated to increase 9.9 percent.
In 2008, growth is expected in the United States, Canada and worldwide, with the biggest gains in global markets – an increase of 2.8 percent for the United States and 2.9 percent for Canada, and growth in worldwide markets of 8.0 percent.
“Overall, we’ve seen a slowdown in the past year or so, but it comes after some very good years for the equipment manufacturing industry,” stated AEM President Dennis Slater. “The residential housing slump in the United States has sent ripples across the entire economy, not only the construction industry. However, growth in non-residential construction continues to offset losses in the housing market. For equipment manufacturers, the continued global demand for construction machinery is also balancing the slowdown in our domestic business. Economic signals are mixed, but there is guarded optimism that our economy will remain resilient and not descend into recession.”
Sales of lifting equipment, including cranes and aerial work platforms, are predicted to gain 0.6 percent for the USA and 2.7 percent for Canada, while increasing 15.7 percent for other worldwide markets by the end of the year. For 2008, sales are expected to increase 5.2 percent in the USA, anticipated to grow 1.3 percent for Canada and predicted to gain 11.9 percent for other worldwide markets.
