The latest report released by the Association of Equipment Manufacturers (AEM) gives us a good look at a trend when it comes to U.S. construction machinery.
“Because Expert Heavy Equipment has very specific goals, it is imperative that we analyze market intel in order to adjust and capitalize on the current market trends,” said Milissa Wise, director of operations for Expert Heavy Equipment (EHE), which is a female, veteran owned company.
Areas covered in the report include emerging markets, new and used equipment comparisons, top markets by product, and selected product groups and products.
During the first-quarter U.S. Construction Machinery Exports Total $4.292 billion compared to $5.287 billion in the first quarter of 2013 – an 18.8-percent drop, according to U.S. Commerce Dept. data.
Nearly all world regions recorded high single-digit or double-digit declines, except Africa, which experienced double-digit growth in exports.
First quarter 2014 U.S. construction equipment exports by major world regions compared to Q1 2013:
- Exports to Canada declined 8.5 percent, for a total $1.577 billion
- Exports to South America declined 33.9 percent, for a total $652.1 million
- Exports to Asia decreased 7.2 percent, for a total $544.2 million
- Exports to Europe dropped 34 percent, for a total $463.7 million
- Exports to Central America decreased 26.7 percent, for a total $451.6 million
- Exports to Australia/Oceania declined 41 percent to $232.5 million
- Exports to Africa increased 32.9 percent to $370.3 million
The top countries buying the most U.S.-made construction machinery during the first quarter of 2014 were:
1. Canada – $1.577 billion, down 8.5 percent
2. Mexico – $369.9 million, down 27.2 percent
3. South Africa- $241.5 million, up 103.8 percent
4. Australia – $217.1 million, down 42.4 percent
5. Chile – $197.1 million, down 19.1 percent
6. Brazil – $159.9 million, down 48.1 percent
7. Peru – $147.1 million, down 24.2 percent
8. Saudi Arabia – $113 million, up 32.2 percent
9. China – $107.2 million, down 11.3 percent
10. Belgium – $98.1 million, down 45.5 percent
Wise explained that the insight from these market trends will enable EHE to make the best decisions for itself and for it’s customers.
For more information about Expert Heavy Equipment, please visit: https://www.experthe.com.