The equipment manufacturing sector is facing numerous challenges in 2022 as global turbulence increases. Unfavourable political climates are impacting many industries. The ongoing conflict between Russia and the Ukraine, along with other political uncertainties are causing additional supply chain obstructions. Inflation continues to be a concern.
Canada’s construction sector is expected to grow by 6.5 percent in 2022. This growth is attributed to the increased investment in the residential sector, vaccination progress, and higher spending in areas of infrastructure and clean energy projects.
Commercial printing is witnessing structural changes as the transition from conventional methods of print to digital is taking place in the industry. This development will have a significant impact on the traditional printing equipment industry.
The trucking industry will continue to experience substantial growth in 2022. Freight tonnage is expected to grow by 24% by the end of 2022. Driver shortage continues to be a major concern and is expected to swell to 25,000 by 2023. Tight supply and strong end-user demand for equipment continues in the cross-retail and auction markets. Retail prices have increased 24% over the past 12 months according to Ritchie Bros Market Trend Reports.
The North American tooling industry rebounded in 2021 and mold and die shops are operating at a 81 to 89 percent capacity. The tooling industry continues to face challenges caused by supply chain shortages, raw material availability, cost increases, and global uncertainty. According to industry sources the North American automotive tooling industry is projecting sales of $7 billion US in 2022, up from $5.4 billion US in 2021.
Agricultural equipment values have increased significantly over the last 6 months. Market activity has increased by 9.5% since March 2021.
Construction equipment pricing continues to trend upward in 2022. Construction activity will be high in 2022. Auction activity has spiked significantly in the last 3 months.
Contact :Gilles R. Moss, ASA