Material Handling Equipment Manufacturing Orders to Grow 9% in 2015
While new orders for material handling equipment new orders grew 8.1% in 2014, further growth is expected in 2015.
The forecast released last week by MHK predicts a 9% growth rate for 2015 and and 7% in 2016.
“We expect economic fundamentals to favorably support material handling equipment manufacturing expansion through 2015 and 2016," says Hal Vandiver, MHI executive consultant.
Additionally, material handling equipment shipments grew 4.5% in 2014 and are forecasted to grow 11% in 2015 and 11% in 2016 as backlogs are reduced.
Domestic demand (shipments plus imports less exports) grew 5.4% in 2014 and are forecasted to grow 10-11% in 2015 and 9% in 2016.
Import growth in 2014 was 5%, up a point over 2013. Export growth was flat in 2014, down from 12.4% in 2012. Material handling equipment manufacturing imports are forecasted to mirror domestic demand in 2015 and 2016. Exports are expected to be flat or show very modest growth in 2015 and 2016.