Off-Highway Research has revised its 2020-2024 sales forecasts in light of the Covid-19 pandemic. The updated figures are available via the Chinese, Indian and International Database Services as well as the Global Volume & Value and Global Volume & Value PLUS Services. Users of the PC application version of Off-Highway Research’s Database Services should download the update when prompted and then restart the application to access the changes.
Commentary on the changes will be provided in the June Market Reports. They will also be the subject of the June Global Covid-19 update, which is available free of charge to all clients. Off-Highway Research will also issue an update to its Global Market Review in light of the revisions.
Global construction equipment sales in 2020 are expected to fall 19 per cent from the 2018-2019 peak of 1.1 million machines sold to 891,000 units. The mildest impact is expected in China where Off-Highway Research’s previous forecast of an 8 per cent fall in sales compared to 2019 remains unchanged. The Covid-19 impact on the Chinese market was relatively brief and the bounce-back has been strong since early April. In the other major regions of the world, the expected downturn ranges from 19-30 per cent this year.
These forecasts are subject to further revisions as events unfold. Many countries remain in lockdown and although restrictions are starting to ease, the economic impact and journey back to normal activity remain uncertain.
In the meantime, we remain available to all our clients by phone and e-mail to discuss the situation. This has always been a complementary part of our service and will continue to be so. Please feel free to get in touch with your usual contact at Off-Highway Research or via firstname.lastname@example.org. I can be contacted directly on +44 7940 871805 and email@example.com