WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Analysts with Great American Group, Inc. (OTCBB: GAMR) report that the heavy mobile equipment industry proved to be one of the bright spots of the domestic economy in 2013. This was driven in large part by the expansion of domestic oil and gas operations and rebounds in the commercial construction sector.
The heavy mobile equipment industry is also expected to show steady improvement in 2014. Advancements in the domestic marketplace will drive this growth, while foreign markets still experience some uncertainty.
“The various sectors of the heavy mobile equipment market demonstrated growth in the fourth quarter of 2013, and are expected to continue to do so in 2014,” said Michael Petruski, Executive Vice President and General Manager of Great American Group’s Advisory and Valuation Services division. “While new regulations do present challenges, the domestic market for heavy mobile equipment is strong and dynamic, and continues to climb toward pre-recession levels.”
Fracking has had a major impact on domestic manufacturers as the low-cost ethane found in these deposits has made the U.S. competitive on a global scale. These developments have spurred a number of new chemical and plastic construction projects to expand existing facilities and bring new processing and manufacturing plants online.
For more information about industry trends in cranes and lift equipment, construction equipment, intermodal, and rolling stock, download Great American Group’s latest Heavy Mobile Equipment Monitor – available on the company’s website at http://www.greatamerican.com/static/pdf/industry-insights/Heavy%20Mobile%20Equipment/HME%20Monitor%20January%202014.pdf.
Additional information about Great American Group’s asset disposition or advisory and valuation services is available at www.greatamerican.com.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, Melville, N.Y., New York, Norwalk, Conn., San Francisco, London, Milan and Munich. For more information, call (818) 884-3737 or visit www.greatamerican.com.