The 1,200 units is the estimate by Power Systems Research of the number of Off-Highway Trucks to be produced in North America (Canada and the U.S.) in 2020.
This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.
Market Share: Caterpillar leads in the production of Off-Highway Trucks in North
America with 53% of the total units manufactured. In second position is Deere with 29.5%. Third, is Komatsu America with 15.5%.
Exports: Collectively, up to 20% worldwide.
Trends: Production of Off-Highway Trucks in North America decreased 1% in 2019 compared to 2018. Production is expected to drop another 15% in 2020. The decline in manufacturing is caused by the weakening of mining related activities, especially within the copper and gold segments along with overseas mining related issues. At the same time, Covid-19 factors contributed to the decrease.
Expect production to increase 5% by 2025 as the need for new equipment for mining operations increases. It is speculated that there will be growth in the excavation of iron ore, nickel and bauxite followed by gold and copper. PSR
Carol Turner is Senior Analyst, Global Operations, at Power Systems Research
