News in the Construction Equipment Industry
Need a quick update on what happened last week in the construction industry? Every Monday we will provide a brief overview of some of the top stories for your consumption.
Globally, the construction equipment market is forecasted to reach 1.76 million units by the year 2018, according to GIA. As the U.S. slowly begins to leave the recession and see growth in the economy, people are beginning to move from the rural areas to urban areas; thus creating a need for construction and construction equipment in these emerging markets. There is expected demand increase for construction equipment including excavators, cranes and loaders.
The sale of heavy machinery, commercial aircraft and farm goods have all contributed to the rise in U.S. exports, which hit an all-time high this month. Trade deficit shrunk for the first time in two years due to the 3.1% increase in export sales; dropping from $559.9 billion to $554 billion.
It’s that time of year again for us to compile our annual Auction Results, Market Trends and Evaluations book which is commonly used throughout the year by buyers seeking averages and values. Advertising opportunity is limited, only 32 pages of advertising space available. If you would like to see your company advertised in the book, please make your ad submission by Monday, November 26th.