As our society and business become increasingly more global, you may ask yourself: Is my company adjusting to the modern business world? Am I only focusing on local markets? Will I continue to be successful if I don’t reach out to other states, countries, or even continents?
Look at some of the latest facts and figures, here’s what the professionals at AEM say:
- 2012 US exports of heavy machinery in the construction industry were up 13%
- Farming equipment exports from the US were up 16%.
- That’s after coming out of 3 straight years of increases in the double digits!
The favorable exchange rate due to soft Dollar makes it an even bigger bargain to some.
What trends are happening globally?
- Demand for heavy equipment is dominated by China according to Moffat Publishing
- Demand is also high in Latin America
As of now, how does the future look?
- Construction activity growth is estimated to increase annually by 6.5% for the next 3 years (Moffat Publishing), with a continuing increase in demand coming from China, as well as Latin America, the Middle East and Eastern Europe
- Improvements to the infrastructure in developing nations will also continue to fuel global demand for equipment, used equipment in particular
- Economies in many emerging markets can’t afford some of the late model used equipment or new Older equipment US customers wouldn’t touch would be the perfect solution for some of these developing countries
So take a look at your inventory that has been sitting there for a year or more. Could entering the global marketplace have a positive impact on your company?