The forecast for material handling equipment manufacturing (MHEM) will continue to be favorable through 2007, according to the latest Material Handling Industry of America (MHIA) quarterly MHEM History and Forecast.
Material handling equipment manufacturing new orders grew at a record pace of 28.1% in 2005. MHIA forecasts continued growth of 11.0% to 13.0% in 2006, followed by slower growth in 2007 in the 3.5% to 5.0% range, closing out the most recent expansion phase of the MHEM business cycle. Material handling equipment manufacturing shipments grew 25.6% in 2005, while consumption grew 24.9%. Both are expected to follow the pattern of new orders, with continued strong growth through 2006 followed by slowing but steady growth in 2007, the report indicated.