The Association of Equipment Manufacturers (AEM) has released its annual forecast, reporting that the construction equipment manufacturing industry expects overall US and Canadian business to remain flat through the end of 2007 but rebound in 2008, while sales to worldwide markets should continue strong through 2007 and into the next year.

Each year AEM surveys its construction equipment manufacturer members about expected sales of the machines that build, repair and maintain America’s and the world’s roads, bridges, dams, houses, offices, schools and other public and private infrastructure. The latest survey shows that overall construction equipment demand by year-end 2007 is predicted to decline 1.9 percent in the US and remain flat in Canada at minus 0.1 percent, while worldwide business is anticipated to increase 9.9 percent. In 2008, growth is expected in the US, Canada and worldwide, with the biggest gains in global markets – an increase of 2.8 percent for the US and 2.9 percent for Canada, and growth in worldwide markets of 8.0 percent.

In its survey, AEM breaks down its forecast by industry sector. The organization forecasts that sales of lifting equipment by year-end 2007 will gain 0.6 percent for the US and 2.7 percent for Canada, while increasing 15.7 percent for other worldwide markets. For 2008, sales are expected to increase 5.2 percent in the US, anticipated to grow 1.3 percent for Canada and predicted to gain 11.9 percent for other worldwide markets. Lifting equipment includes aerial work platforms; knuckle and telescopic boom truck cranes; all terrain, hydraulic truck and rough terrain cranes; lattice boom cranes; rough terrain and truck-mounted fork lifts; tower cranes; and telescopic handlers