The Outdoor Power Equipment Institute's (OPEI) Econometric Forecast for consumer equipment and certain commercial turf products revised in February 2003, indicates that there is positive economic news for the industry in spite of recent high profile stories, such as the impending war with Iraq, which are having an adverse impact on the stock market.
No product category has performed better than commercial riding mowers over the past 10 years. Shipment figures have climbed every year that they have been tracked, beginning in 1995. However, during the model year 2002 (MY 2002), a 1 percent decline occurred, with more than 113,000 riding units shipped from manufacturers into the distribution channel.
Shipments of commercial walk-behind mowers, on the other hand, sagged by 10.6 percent, marking the third consecutive year these numbers have dropped. MY 2002 shipments totaled 43,014 walk-behind mowers, which is down from a high of 53,321 report in MY 1996.
The picture for MY 2003 calls for slight improvements, with shipments growth in all categories for MY 2003 being forecasted: a 1.1 percent increase for commercial walk behinds, followed by a 3.2 percent growth number for MY 2004; and a 9.0 percent increase for commercial turf riders in MY 2003 and 7.4 percent growt in MY 2004.
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The Outdoor Power Equipment Institute is the major international trade association representing the manufacturers and their suppliers of consumer and commercial outdoor power equipment such as lawnmowers, garden tractors, utility vehicles, trimmers, edgers, chain saws, snow throwers, tillers, leaf blowers and other related products.