Emerging markets boost US exports
US 2010 construction machinery exports reach $16.4 billion in 28% gain
Global exports of US construction machinery grew by 28% in 2010. According to the Association of Equipment Manufacturers (AEM) total sales of equipment reached $16.4 billion as emerging markets helped boost demand.
With the exception of Africa which experienced a decline, sales rebounded from 2009’s through the floor drop of 38%.
It was revealed last week that machinery imports to the UAE leapt up by 38% in 2010 although US exports fell by 34% to Saudi Arabia. With more information emerging it is clear that the UAE jump is ahead of most regions.
The AEM said exports to Europe gained 23% to $1.88 billion while Asia grew 10% to $2.2 billion, while South and Central America both increased volumes by 31% to $3.1 billion and 24% to $3.1 billion respectively. Sales to Australia and Oceania - where plant and machinery in the mining sector is leading CapEx - stormed upwards by 66% to $1.6 billion.
Meanwhile US manufacturer Manitowoc has announced that it is to build its first Latin American factory in Brazil. The facility will be located in Passo Fundo, a city in the southern state of Rio Grande do Sul.
Larry Weyers, executive VP of Manitowoc Cranes’ Americas region, said the company intends to build different models of cranes at the new factory.
“It’s time for us to start manufacturing here,” he said. “Our philosophy is always to be as close to customers as possible. That applies to everything we do — design, manufacturing, sales and service. Over the last few years, we have significantly enhanced our presence in Latin America, and this new factory demonstrates Manitowoc’s belief in the market potential.”
The initial focus of the factory will be the production of mobile hydraulic cranes with the first machines rolling out towards the end of 2012.