North American Construction Equipment Sector 1st Quarter 2021 Update

Current and Near-Term Trends in the Construction Equipment Sector

The Construction Equipment (“CE”) sector began 2020 with mixed levels of customer demand, but then in March, the wide ranging impacts from the adoption COVID-19 related safety limitations enacted by many states and provinces across North America began to reduce the volume of sales and rental activity for all of the CE dealers. By mid-May, as some of these safety measures began to be lifted, the CE sector saw a rapid rise in construction activity as contactors rushed to get their 2020 projects and contracts started so they could be completed before year end. For the majority of dealers, the second half of 2020 saw strong customer demand – although there were a few geographic areas which did experience some softness for a variety of reasons. READ FULL ARTICLE