Caterpillar, Komatsu See U.S. Construction Market Rebounding

Caterpillar Inc., Komatsu Ltd. and Volvo Group AB said North American construction equipment demand is rebounding from the slump that followed the financial crisis.

The market may expand as much as 30 percent in 2011, said Olof Persson, president of Volvo's construction equipment unit. Industry sales of equipment including excavators and wheel loaders in the U.S. and Canada may rise to about 40,000 units in Tokyo-based Komatsu's 2011 fiscal year, which runs through March 2012, from about 30,000 units in fiscal 2010, said David Grzelak, chief executive officer of its Komatsu America Corp. unit. Sales peaked at 72,000 units in fiscal 2006, he said.

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