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.
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