Industry Analysis & Industry Trends
The Lifting and Handling Equipment Manufacturing industry has faced challenging conditions over the past five years because weak domestic demand, rising import penetration and falling exports have all reduced demand for the products manufactured by industry participants. As a result, industry revenue is expected to decline at a compound annual rate of 4.3% over the five years through 2013-14. Domestic demand contracted when industrial production and construction activity fell sharply at the start of the period and has remained relatively weak since then. Demand from other businesses for lifting and handling equipment dampened as they faced challenging conditions.
In 2013-14, industry revenue is forecast to increase by 2.2% to £2.9... purchase to read more
Industry Report - Industry Analysis Chapter
Companies purchase lifting and handling equipment to help them move materials, goods and people efficiently and safely. The rate of orders for lifting and handling equipment is affected by capital investment decisions by companies, which are partially dependent on the general level of economic activity. During periods of weak economic activity, companies tend to put off purchasing new equipment, including lifting and handling equipment, which negatively affects the industry. Industrial production activity declined considerably at the start of the period and has remained relatively weak since. Construction activity also declined sharply and has remained below pre-crisis levels. Rising import penetration and falling export revenue have added to the challenges facing the industry... purchase to read more