Asia/Pacific Market Trends to Boost Global Off-Road Equipment in 2021

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CLEVELAND, May 11, 2021 /PRNewswire/ -- A new Freedonia Group analysis projects a strong post-pandemic rebound for the global market for off-road equipment (i.e., construction, agricultural, mining, and forestry machinery) in 2021, with demand expected to rise 5.4% to $439 billion:
In 2020, the COVID-19 pandemic precipitated a sharp sales decline as demand for off-road equipment plummeted in key end-use industries – particularly construction and mining.
As the pandemic recedes and revenues strengthen in these industries, however, all major off-road equipment markets are poised to rebound in 2021.
Healthy Growth Expected in All Regions Post Pandemic
In 2021 and beyond, the Asia/Pacific region will continue to drive global sales growth, supported by rebounding construction and rising investment as the pandemic recedes:

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