Cummins and Caterpillar said they expect double-digit sales growth during the next few years.
Peoria, Ill.-based Caterpillar said it expects a number of factors, including rental growth, to boost electric power sales to 20 percent of the company's total sales by the middle of the decade. In 1999, electric power sales accounted for about 10 percent of the total.
Cummins, based in Columbus, Ind., said expansion of the worldwide market served by the company's power-generation business would increase sales 10 percent to 15 percent. A Cummins official said the company expects the operating margin for the power-generation business to be about 9 percent by 2004. Third-quarter sales in that unit were $334 million.