Terex AWP: North American rental market transitioning into growth

Speaking at the M&T Expo in Sao Paulo, Brazil, Terex Aerial Work Platforms said it is in its second year of a 5 to 7-year growth cycle and that major rental companies in North America are contributing to the growth.

Matt Fearon, vice president and general manager, Terex AWP Americas, said the aerial work platform business is "extremely healthy right now."

"We saw the market turn in late 2010 and 2011 was very good for us. We're off to a great start for 2012," he said.

A lot of the demand is being driven by large rental companies in both North America and Australia. "We are starting to see a switch from refleeting to growth, which is very encouraging" Fearon said.

Rental companies are investing heavily across Terex AWP's entire aerial product line, Fearon said, but there is a slightly larger interest in "anything electric" such as electric scissors and booms, as well as mid-sized diesel booms.

Terex also said it will introduce new products to the market soon but Fearon would not elaborate on what customers can expect from the company. "You'll just have to wait and see," he joked.