Orders for construction equipment nationally showed a marked increase during the first six months of this year, according to a new report issued by the Milwaukee-based Association of Equipment Manufacturers.
Even though those orders may have leveled off somewhat in the summer weeks, the overall increase is expected to be in the area of 15% once all the numbers are added up.
Those orders, according to Mark Killion, economics and finance research director at Oxford Economics, are expected to remain on the upside next year, although with a less dramatic projected 4% increase.
Just over 70% of equipment manufacturers in a survey conducted by the Association of Equipment Manufacturers said they had experienced an increase in orders during the first quarter of this year.
But at the same time, a strong 85% of those respondents said they are expecting to see yet more increases in equipment orders between now and 2022.
Earthmoving and utility machinery equipment has seen the biggest increase so far this year at anywhere from 11% to 15%. Concrete equipment and lifting equipment, meanwhile, was up by as much as 10%.
Only in the lighting equipment segment were orders reported as being flat, although manufacturers say they are expecting a 1% to 5% gain by early next year.
By Garry Boulard
