OEM Off-Highway Magazine: Heavy Equipment Markets See Improvement in 2021

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

Jim Downey

As Vice President - Global Data Products at Power Systems Research, Jim Downey is responsible for database management, as well as customer and project support, and heads up our analysis of North American Off-Highway OEM operations. Another responsibility is the management of the proprietary OE Link™ database covering worldwide vehicle and equipment production and forecast information. He received his Business Administration degree from the University of St. Thomas. Prior to starting with us, Jim was a Loan Officer at Wells Fargo Bank. He has been with Power Systems Research since 1999.

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