The Association of Equipment Manufacturers (AEM), in a report issued last week, predicted that construction machinery manufacturers will close out 2010 with 8% growth. However in 2001 that gain will be 14.4%. For 2012 the increase will be 14.5%, and 13.4% in 2013.
Canadian business overall is expected to be 9% higher in 2010 than the previous year, and record gains of 13.2% in 2011, 13% in 2012 and 12.3% in 2013.
Industry business to the rest of the world is anticipated to be strongest in 2010 -- up by 14.4% -- and then grow 11.4% in 2011, 12% in 2012 and 11.2% in 2013.
"While this rebound is welcome, you have to remember our industry was down 30%-50% in the recession. Although business is improving, it will take years to recover the sales losses of 2008-2009," stated AEM President Dennis Slater.
"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," Slater said.
"The Administration and Congress need to truly focus on national policies that keep manufacturing strong, policies that create the certainty manufacturers need to invest and hire. A robust American manufacturing sector is necessary so our economy can compete with other countries and our equipment manufacturers are able to prosper and grow right here in the United States. Until these things are done, America's economy will suffer and our competitive position in the world will be threatened," Slater said.