Not sure if you’re interested in dealing with buyers outside of the US, or perhaps exporting might seem like uncharted waters not worth investing in?
You might want to rethink that…
As our society and business becomes more global, ask yourself this: Are you adjusting to the new world of global commerce, or are you still trying to figure out how to make more revenue in your local market?
Looing at some of the latest facts and figures, here’s what the experts at the AEM say:
- 2012 US exports of heavy machinery in the construction industry were up 13%
- Farming equipment exports from the US were up 16%.
- That’s after coming out of 3 straight years of increases in the double digits!
There is clearly a demand for US heavy equipment and the world sees US equipment as being higher quality, better maintained. The favorable exchange rate due to a soft Dollar makes it an even bigger bargain to some.
What are some of the global trends?
- Demand for heavy equipment is dominated by China according to Moffat Publishing
- Demand is also high in Latin America
- Production of new equipment is down, so late model used equipment is hot right now resulting in higher prices
As for what the future holds?
- Construction activity growth is estimated to increase annually by 6.5% for the next 3 years (Moffat Publishing), with a continuing increase in demand coming from China, as well as Latin America, the Middle East and Eastern Europe
- Improvements to the infrastructure in developing nations will also continue to fuel global demand for equipment, used equipment in particular
- Economies in many emerging markets can’t afford some of the late model used equipment or new
- Older equipment US customers wouldn’t touch would be the perfect solution for some of these developing countries
So when you are looking out on your yard, at equipment that has been there for over a year, think about how entering the global marketplace could make a big impact on your business. As the fastest growing used heavy equipment site in the world, Mascus can help you reach the largest global audience of used equipment buyers; and with over 40 offices around the world, we can assist you with local knowledge about these markets.
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