Construction Equipment
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Start forecasting accuratelyKey drivers forecasting the construction equipment market in the US
Forecasting market drivers for construction machinery demand can be challenging due to the inherent volatility of the construction industry.
However, by considering these factors and regularly monitoring industry developments, you can improve the accuracy of your forecasts and make informed decisions.
< 3 mins
Time taken to
identify most
relevant indicators
20+
Relevant
leading
indicators
94%
MAPE
forecast
accuracy
*Indicio captures the group effect of the leading indicators, the relevance ranking of each indicator changes over time.
View full forecast resultsGet on the list to receive the latest indicatorsHere are the leading indicators identified using Indicio:
Main variable:
Manufacturers' New Orders: construction machinery; farm machinery & equipment, mining, oil, and gas
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Manufacturers' Total Inventories: Construction Materials and Supplies
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Retail Sales: Building Materials and Supplies Dealers
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Google trends: Hitachi Construction Machinery
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New Privately-Owned Housing Units Started: Total Units
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US - Gross Domestic Product
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Google trends: John Deere
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Manufacturers' Value of Shipments: Construction Materials and Supplies
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Trend: Manufacturers' New Orders: construction machinery; farm machinery and equipment, mining, oil, and gas
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Google trends: US - Volvo Construction Equipment
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United States - Manufacturing PMI
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Industrial Production: Construction Supplies
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Google trends: US - Bobcat Company
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Google trends: US - Case Construction Equipment
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Google trends: US - Heavy equipment
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Manufacturers' Unfilled Orders: Construction Materials and Supplies
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Google trends: Caterpillar Inc
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New Privately-Owned Housing Units Authorized in Permit-Issuing Places: Total Units
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Producer Price Index by Industry: Construction Machinery Manufacturing
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Google trends: KOBELCO Construction Machinery Co.Ltd.
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Manufacturers' New Orders: Construction Materials and Supplies
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Top indicators identified
Manufacturers' Total Inventories: Construction Materials and Supplies
This variable provides insights into the demand-supply balance, production activity, lead-lag relationships, market sentiment, seasonal variations, and the interconnectedness of the construction materials and machinery sectors.
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Retail Sales: Building Materials and Supplies Dealers
This provides valuable insights into market dynamics, consumer confidence, spending trends, and seasonal patterns, all of which can impact the level of new orders received by manufacturers for construction machinery.
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Google trends: Hitachi Construction Machinery
Hitachi Construction Machinery is a prominent player in the construction machinery industry. If Hitachi Construction Machinery experiences significant changes in their sales or order volumes, it can be indicative of broader market conditions and potentially influence the demand for construction machinery.
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