Material handling equipment orders are forecasted to grow 7.0% in 2013 and 11.0% or more in 2014, according to the latest Material Handling Equipment Manufacturing Forecast (MHEM) released by MHI. Projections for both orders and shipments in 2013 and 2014 have been revised upward since May's MHEM.
"According to IHS Global Insight, the fundamentals for solid growth in the U.S. economy are in place for 2014 and 2015. Risks certainly remain, but these risks are not new. We expect these fundamentals to favorably support MHEM expansion through 2013 and 2014, setting the stage for continued expansion into 2015.," says Hal Vandiver, MHI executive consultant.
In addition, material handling equipment shipments are forecasted to grow 5.0% in 2013 and 10.8% in 2014. Domestic demand (shipments plus imports less exports) are estimated to grow 5.2% in 2013 and just over 11% in 2014.
MHEM Trade growth slowed by more than 50.0% in 2012 reflecting reduced US demand and serious problems in foreign markets. Import growth in 2012 was 17.9%, down from 37.7% in 2011. Export growth was 11.2% in 2012, down from 26.2% in 2011. MHEM Imports and Exports are expected to slow dramatically in 2013 and rebound modestly beginning mid-2014.
The MHEM forecast of material handling equipment manufacturing is released each quarter by MHI and looks 12 to 18 months forward to anticipate changes in the material handling and logistics marketplace.
