Construction and agricultural equipment orders in the U.S. were once again above year-ago levels. Slower growth is expected for construction equipment new orders in 2022 due to current trends in residential construction. Meanwhile, increased lead times are impacting the agricultural machinery market.
In Europe, slower growth trends are also anticipated. Nations imposing lockdowns and other pandemic-related restrictions could lead to downturns in production for agricultural and other heavy equipment.
NOTE: All data for charts supplied by ITR Economics