The heavy mobile equipment industry is expected to show steady improvement in 2014, according to a report from Great American Group Inc. The report notes that the expansion of domestic oil and gas operations and commercial construction rebounds helped the industry thrive in 2013.
“The various sectors of the heavy mobile equipment market demonstrated growth in the fourth quarter of 2013, and are expected to continue to do so in 2014,” said Michael Petruski, executive vice president and general manager of Great American Group’s Advisory and Valuation Services division. “While new regulations do present challenges, the domestic market for heavy mobile equipment is strong and dynamic, and continues to climb toward pre-recession levels.”
Fracking has had a major impact on domestic manufacturers as the low-cost ethane found in these deposits has made the U.S. competitive on a global scale. These developments have spurred a number of new chemical and plastic construction projects to expand existing facilities and bring new processing and manufacturing plants online.
For more information about industry trends in cranes and lift equipment, construction equipment, intermodal and rolling stock, download Great American Group’s latest Heavy Mobile Equipment Monitor.