Construction equipment sales decline in 2002; expect slight upturn in 2003

Masonry Construction, Jan, 2003

In an annual forecast of construction machinery makers conducted by the Association of Equipment Manufacturers (AEM) results predicted overall business in the United States will decline 5.6% in 2002 compared with the previous year and will increase 2% in 2003.

The AEM Outlook Survey asked respondents to rank how several factors would influence future sales and to indicate the most important issue that will affect their business in the next year or two. Not surprisingly, growth in the construction equipment industry will be impacted most by the state of the general economy, including the possibility of rising interest rates and erosion in consumer confidence.

The forecast covers 60 different whole machine product types and 16 types of attachments and components. The information is grouped into six broad product categories: earthmoving, lifting, bituminous, concrete and aggregate, light equipment, and attachments and components.