Material handling equipment new orders grew 8.1 percent in 2014 and are forecast to grow nine percent for 2015 and and seven percent in 2016, according to the latest Material Handling Equipment Manufacturing Forecast (MHEM) released by MHI.
“We expect economic fundamentals to favorably support material handling equipment manufacturing expansion through 2015 and 2016,” says Hal Vandiver, MHI executive consultant.
In addition, material handling equipment shipments grew 4.5 percent in 2014 and are forecast to grow 11 percent in 2015 and 11 percent in 2016 as backlogs are reduced. Domestic demand (shipments plus imports less exports) grew 5.4 percent in 2014 and are forecast to grow 10-11 percent in 2015 and nine percent in 2016.
Import growth in 2014 was five percent, up a point over 2013. Export growth was flat in 2014, down from 12.4 percent in 2012. Material handling equipment manufacturing imports are forecast to mirror domestic demand in 2015 and 2016. Exports are expected to be flat or show very modest growth in 2015 and 2016.
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.