Off-Highway Research has updated its International Database Service, with actual data for equipment sales and production by OEM in 2020, and updated forecasts for 2021-2025.
In addition to these updates for 15 different equipment types across Europe, Japan and North America, Off-Highway Research has added to coverage with the inclusion of compact tracked loaders in its data for the first time.
Off-Highway Research managing director Chris Sleight said, “Compact tracked loaders have become significant construction machines in the last decade, particularly in North America where they now outsell traditional wheeled skid-steer loaders by more than two-to-one. They are more of a niche product in most European countries, although the market in Italy is significant.
“By adding this product, we have increased the value our clients get from their investment in Off-Highway Research’s databases, while ensuring our coverage remains fresh and relevant.”
As far as the data itself is concerned, Off-Highway Research’s updates show that the equipment market in Europe fell 16 per cent in 2020 as a result of the Covid-19 pandemic and lock downs. A modest 4 per cent improvement is expected in 2021 to take demand to over 164,000 units – about the same level which was seen in 2017.
Meanwhile in North America, the dip last year was more modest at 9 per cent, and the bounce-back in 2021 is expected to see sales return to the peak levels which were achieved in 2018 and 2019. Meanwhile Japan saw a small increase in construction equipment sales last year despite the pandemic, and that level of sales is forecast to be more or less sustained in 2021.
Full details of last year’s market changes and Off-Highway Research’s forecasts for 2021-2025, are available in the newly updated International Database Service. This includes details of sales and production for each equipment type by OEM, country and year. Commentary on the data will be available through the European Annual Review, which will be published in April, and which will be available to subscribers to both the European Service and International Database Service.
These market trends will also be discussed in the forthcoming Off-Highway Global Briefing webinar on 30th March. Click here for more details and to book your place.