The Cranes Industry Outlook: Q1 2010 survey found the majority of respondents expect the emerging economies of the Asia-Pacific region, including India and China, and the Middle East to witness high levels of growth in their crane industries over the next year. North American countries are expected to witness moderate growth, whilst European countries are expected to exhibit the least growth.
Over half, 51%, of respondents said growth in the Middle East will vary from slight to very strong, with India (65%), China (65%) and Brazil (53%) also predicted to have some form of growth in 2010.
Overall,optimism for revenue growth is slightly less, but 48% of all respondents in the crane industry survey are still positive about revenue growth for their companies in 2010, with pricing pressures, difficulties in forecasting, planning and investing due to market uncertainty, and falling demand the main concerns for the industry.
The majority of respondents expect to see consolidation in the crane industry over the next year. In total, 56% of the cranes survey respondents expect an increase in mergers and acquisition activity in the industry, indicating a likely trend towards larger companies leveraging their stronger position to gain market share by acquiring smaller companies.
The Cranes Industry Outlook: Q1 2010 survey represents the views of buyers and suppliers from around the world, including North, Central and South America; Asia; Europe; and the Middle East. Respondents included CEOs and managing directors, through to staff and managers.
The next installment of Cranes Today’s Middle East Cranes conference is to take place in Dubai on 23-24 February. It will provide the tools to make the most of the business opportunities in the Middle East. For more details, or to register to attend online, visit Middle East Cranes.
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