Construction equipment and truck sales rising
Sales of construction equipment by the world’s 50 largest manufacturers grew 25 percent last year to $182 billion, according to the annual Yellow Table survey by KHL Group.
This was a record for the industry, surpassing the previous high of $168 billion, set in 2008, and prior to the global financial crisis. Suppliers in the commercial truck and truck equipment sectors have seen the results of an improving marketplace and expect sales growth of 20 percent to 25 percent this year, an industry expert said.
The value of all work truck-related shipments, such as trucks and truck chassis, specialty vehicles, trailers, and other equipment, could rise to $125 billion this year, up from $93.5 billion in 2011, Stephen Latin-Kasper a noted market analyst with the National Truck Equipment Association (NTEA) said.