After falling by 37.4 percent in 2009, material handling equipment orders are expected to grow by 6-8.5 percent this year, according to the Material Handling Manufacturing Forecast released by the Material Handling Industry of America yesterday. Shipments, which fell by 34.4 percent last year, are expected to grow by 1-2 percent in 2010.
Hal Vandiver, executive vice president of business development for MHIA, says the impetus for the growth comes as the economy shifts out of recession into recovery and businesses re-establish inventories and respond to growing demand.
Vandiver dismisses the chance that the economy will slide back into recession but does expect that growth will come in increments. "I see supply chains ratcheting up, then falling back a bit, then ratcheting up again," he said at a press conference during the NA2010 Material Handling and Logistics Show in Cleveland.
The complete forecast can be downloaded here.