AEM says it’s optimistic about the future of the industry
The Association of Equipment Manufactures says the outlook for the construction and agriculture equipment industries is bright despite challenges.
AEM Board Chair Bob Crain says “although there’s developing issues that could impact our industry, we feel optimistic that COVID’s retreat means a greater return to normalcy on our farms, in our factories, and in our homes.”
Crain, who is also senior vice president of customer experience at AGCO, says supply chains are seeing some improvement and demand remains high.
“Our order books, like many of our members are very healthy going forward,” he says. “Like many other manufacturers, we expect higher retail industry demand across all major regions in 2022.”
Crain says because of the aging North America farm equipment fleet, growers are increasingly ready to invest in new technologies.
AEM President Megan Tanel acknowledged new challenges facing the industry with Russia’s invasion of Ukraine.
“While it is too early to tell if and how this will impact our industry, an unpredictable geopolitical climate will place further strain on already-stressed global supply chains and underscores the need for a strong bipartisan policy response form our elected officials,” she says.
She says “access to any sustainable, reliable, and affordable energy is fundamental to what we do and essential to the continued growth and competitiveness of our industry. A clean and healthy environment is essential for economic prosperity now and in the long-term. We support policies that build on America’s strengths, technology, and energy diversity. We encourage investment and innovation in our nation’s energy sector. President Biden mentioned in his State of the Union address that there are steps that can be take to bolster our nation’s energy security that don’t require any action from Congress, but we would be supportive of both democrats and republicans working together to make sure we’re well positioned to meet the growing demand for energy in the future.”
AEM is the North American-based trade association representing off-road equipment manufacturers and suppliers, with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide.
The organization recently hosted a State of the Industry briefing with media.