As reported in a recent edition of International Rental News, executives at major North American lift manufacturers anticipate product demand to soften moderately in 2025. The overall industry outlook, however, remains positive with growth expected to resume in 2026.
The industry enjoyed record performance in 2023 as economic activity recovered from the Covid-era lows. So, some subsequent softening of demand as customer inventories were refilled did not come as a surprise. The executives also noted that reductions in lead times for new equipment across the industry have allowed customers to more closely match purchases to market requirements.
Other factors cited in the report included rising interest rates, supply chain issues, project delays and a downturn in non-residential and single-family home construction. Balancing these trends are increased investments in manufacturing, infrastructure, and large projects like data centres.
Reporting says a slowing economy saw sales decline by 21 percent in 2024.
Learn MoreVarious industry groups are reporting the signals to be very mixed.
Read moreAn influencer can link OEMs with the people who will use the equipment.
Read moreThe rental market is influencing new mini excavator design.
Read moreSunbelt Rentals will be the official equipment provider for the games.
Read moreWhat impact will the recently announced 25 percent U.S. tariffs have on the global generator set market?
Read moreA recent article in Compact Equipment magazine explored the difference and offered some guidelines for selecting the best balance for various applications.
Read moreThe Construction Index reports that April marked the third consecutive month of construction output growth in Great Britain according to the Office for National Statistics.
Read more
