Off-road equipment markets are expected to see a slight recovery from the devastating effects of COVID-19 in 2021, according to a report prepared by Power Systems Research that appeared in the October 2020 issue of OEM Off-Highway magazine.
One segment, the construction equipment market in North America has been riding a strong economy over the past few years. The segment was due for a slowdown; however, current worldwide economic conditions have caused a rapid cycle to reset in the construction industry. Government is committed to support the demand in the sector by investing heavily into infrastructure. We have yet to see any new level of demand, but we expect to see signs of the new normal in H2 2020 and early 2021. PSR
