In 2010 and so far in 2011, the Agricultural Machinery market has shown some solid gains and this trend should continue for the rest of this year. This forecast is according to information presented by Jim Meil, Vice President and Chief Economist at Eaton Corp. His very optimistic perspective was presented at the 2011 NAHAD Annual Meeting & Convention in San Diego on April 2, 2011.
The ag machinery market has shown a twelve-month recovery rate of 31.3% for shipments during the period ending December 31, 2010. The six-month growth rate for the period ending on the same date is 12.3%. Both sales and shipments of ag machinery are rebounding nicely. This is great news but it is not surprising.
The demand for food only increases and the need to plant, nurture, and harvest food remains a top focus for mobile machinery designers and builders. Fluid power has long played a major role in making ag machinery more productive and efficient.
In our June 2011 issue, we will review some of the contributions made by our technology to meet the demand of farmers and their customers. Mobile Hydraulics - Agricultural Equipment will be our headline article in our June issue. This article highlights the power and precision of hydraulics, which is used to run agricultural machinery safely, efficiently, and effectively.
This will be must reading for all professionals involved with mobile equipment of all kinds, especially ag machinery.