Heavy machinery and construction firms can benefit from huge demand in emerging markets
New York, US (PRWEB) July 31, 2012
Despite ongoing economic uncertainties, the heavy machinery and construction equipment industries continue to look towards emerging economies for growth. China’s economy is still growing at an impressive rate along with India and Brazil. These countries are all keen to import and manufacture the machinery needed to rapidly grow their infrastructures. The US, Japan, Korea, China and European firms that recognize this opportunity, reap the benefits if they enter and operate in these industries and emerging nations.
This trend is expected to continue for the next three years, and it presents a number of challenges to firms that want to lead and capture market share in these nations. Whether an organization needs to translate pre- and post-sales materials, their corporate website or an operating manual, localizing into the target audience’s language is key in entering a new market.
Heavy machinery and construction manufacturers can’t afford to ignore the growing influence of the world’s emerging economies. The Asia Pacific region is a particular growth region, but Brazil is also set to increase its use of heavy machinery and construction equipment.
Brazil is slated to host the FIFA World Cup in 2014 and the Olympics in 2016, and both events will create a huge demand for construction machinery. Zacks Equity Research predicts that the country’s economy will grow by 3.5 percent this year and the government is also making it easier for foreign firms to do business in Brazil.
Japan is another country whose circumstance after the 2011 tsunami has resulted in a growing demand for construction equipment and machinery. According to Zacks Equity Research, core orders of machinery in Japan grew by 3.3 percent in the first quarter of the year, compared with 2011. Further growth of 2.5 percent is expected to occur in the second quarter of the year.
However, it’s China and India that will provide much of the growth opportunities for Western heavy machinery manufacturers. The heavy machinery and construction firms are benefitting from the number of growth markets in the industry – helping to offset slow domestic demand in the US and Europe.
Datamonitor’s recent report on the global machinery market concluded that by 2015, the market will be worth $269.3 billion – which is a significant 47.6 percent increase on the demand in 2010. The Asia-Pacific region accounts for 37 percent of this demand.
Despite the ongoing Eurozone crisis and recent slower growth in the Chinese economy, analysts are convinced that the demand for heavy machinery and construction equipment will continue to grow in emerging economies. In order to effectively operate in emerging economies, businesses need to have their sales, marketing, operations and support documentation produced in several different languages and to a high standard.
A qualified translation service provider, usually have decades of experience, can help in successfully delivering translation services for the heavy machinery and construction industries. This experience means their expert linguists can work with complex and technical materials such as technical drawings, product manuals, instrumentation instructions and training manuals to ensure they are effectively received in China, India or Brazil as they are in the US and Europe.
In addition, adopting a content management system (CMS) integrated with the translation service provider’s translation management system (TMS); an international heavy equipment manufacturer’s technical publications team can potentially increase productivity and reduce their translation costs by 40 percent.
About Merrill Brink International
Merrill Brink International (http://www.merrillbrink.com) is a leading provider of complete translation and language solutions for global companies and law firms, with special expertise in serving the legal, financial, life sciences, software, heavy machinery and corporate markets. A proven leader with more than 30 years of experience, Merrill Brink offers a wide range of language solutions including translation, localization, desktop publishing and globalization services.
Merrill Brink is recognized in the industry for its commitment to quality and its pioneering approach of leveraging technology to reduce costs, eliminate redundant processes and accelerate translation life cycles. Merrill Brink is certified to ISO 9001:2008; ISO 27001:2005 and ISO 13485:2003, and registered to EN 15038:2006 and ISO 14971:2007. Together, these standards provide assurance that the most stringent process and quality standards for translation are followed. Merrill Brink International is a wholly owned subsidiary of Merrill Corporation.
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