March 2023 Equipment Market Outlook

November U.S. construction machinery new orders hit record high. While the U.S. leading indicator decreased, most other indicators in this report are above previous levels. Download this FREE report to gain top industry information and insights.

February 24, 2023

March 2023 Equipment Market Outlook

Industry-leading economic firm ITR Economics provides heavy-duty equipment market trends to help OEMs stay up to date on top industry information and insights which can help them make better decisions during 2023.

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The Port of Baltimore is used by many of the largest construction machinery manufacturers.

What Effects Will the Baltimore Bridge Collapse Have on US Imports/Exports of Agricultural & Construction Machinery?

Following the collapse of the Baltimore Bridge and the suspension of traffic through the Port of Baltimore, construction and agriculture vehicle supply chains will be affected but the question is: How much?

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Call for Products: OEM Off-Highway's 2024 Product Showcase

If you manufacture cutting-edge solutions for the mobile equipment industry, we want to see them — and so do our readers. Submit your product(s) for a chance to be featured in our comprehensive pictorial guide packed with industry-leading offerings.

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March 2024 Equipment Market Outlook

January's U.S. heavy-duty truck production was 2.6% above the year-ago level, though growth is slowing. Experts say further decline is likely, given general decline in wholesale trade coupled with waning revenue within the truck transportation sector.

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December 2023 Equipment Market Outlook

Data suggests there is potential to resume a pattern of near-term growth. However, experts warn this is unlikely given other factors, including declining corporate profits, elevated interest rates and softening consumer finances.

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State of the Industry 2023

Get seven professional perspectives and predictions about what's shaping the 2024 OEM landscape.

Trimble President & CEO Rob Painter (left); AGCO Chairman, President & CEO Eric Hansotia (right).

AGCO to Acquire Trimble Ag Assets & Technologies Via Joint Venture

The transaction creates a global mixed-fleet precision agriculture platform and enhances AGCO’s comprehensive technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability.

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Inside the Data: What's the Latest on US Construction Machinery New Orders?

Rentals may be on the rise as elevated interest rates and slowing economic activity hinder demand for construction and related machinery purchases in the coming quarters.

What to Expect from the Latest Vanguard Power Solutions at WOC

Briggs and Stratton is coming to World of Concrete with a portfolio of power solutions including new ready-to-work electrification options.

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Ree Automotive Launches Electric Class 3 Box Truck

The P7-B's full x-by-wire architecture supports all-wheel steer, all-wheel drive, adaptive regenerative breaking, creep control, hill start assist and torque vectoring (standard), as well as over-the-air updates.

Bossard Group Reports Rise in Third Quarter Sales

Bossard sales rose 4.8% on a year-over-year basis in the third quarter with sales in the Americas rising 13.3% and those in Europe 2.3%.

Bosch Mobility Division to Grow 5% in 2016

Bosch anticipates its Mobility division to grow 5% in 2016 due to expected growth within the industries it serves, and will be dedicating research and development efforts to mobility solutions for the heavy-duty vehicle sector.

Donaldson Reports Fourth Quarter and Full-Year 2016 Earnings

Donaldson reports a 1.8% decline in sales for the fourth quarter and 3.2% decline for full fiscal year 2016; the company anticipates between a 2% decline and 2% increase for fiscal year 2017.

Navistar Reports Third Quarter 2016 Results

For the third quarter, Navistar revenue was down 18% compared to a year ago due to softer industry conditions, particularly in the Class 8 truck market.

Deere & Co. Announces Lower Sales and Revenues for Third Quarter

Deere & Co. net sales and revenues decreased 11% in the third quarter due to weakness in global markets for farm and construction equipment.

Hexagon Composites Reports 20% Revenue Growth for Low-Pressure Cylinders in Second Quarter

Hexagon Composites says operating results for the second quarter were positively impacted by a 20% growth in revenue for the Low-Pressure Cylinders segment.

New Flyer Reports Second Quarter Results

New Flyer revenue increased 68.3% in the second quarter, which resulted in a 71.4% increase in deliveries compared to the same period in 2015.

Westport Fuel Systems Reports Second Quarter Financial Results

Consolidated revenue for the quarter was $44.4 million compared to $27.8 million last year due to the merger with Fuel Systems' and the addition of its revenues.

UQM Technologies First Quarter Revenue Grows 94% Over Prior Year

UQM President and CEO says first quarter results increased due to sales growth of the company's heavy-duty electric propulsion systems in North America.

Meritor Reports Third Quarter Fiscal 2016 Results

For its third quarter fiscal 2016, Meritor sales were down approximately 7% driven partially by lower production in the North American Class 8 truck market.

Titan Second Quarter Sales Down 12.2%

Titan reports sales for the second quarter were down 12.2% compared to last year, but the company is optimistic as certain segments begin to improve.

Trimble Second Quarter Revenue up 4%

Trimble reports its revenue for the second quarter rose 4% compared to the previous year, and anticipates continued growth through the rest of the year and into 2017.

Modine Reports Slight Increase for First Quarter Fiscal 2017

Modine's first quarter fiscal year 2017 results improved on a year-over-year basis due in part to strong sales in Europe.

Maxwell Reports Second Quarter Results

Maxwell President and CEO says second quarter results were as expected, and continued weakness in the China bus market will have further effects in the next quarter.

Cummins Reports Second Quarter Revenues Decreased 10%

Cummins' second quarter revenues decreased due to lower truck production in North America and weak global demand in the off-highway segment; full year revenues are expected to be down 8-10%.

MAN Improves Profit in First Half of 2016

MAN Group's operating profit increased 3.7% during the first half of 2016, aided primarily by improved sales in the MAN Truck & Bus business unit.

Terex Announces Second Quarter Results

Terex's second quarter results accounted for structural changes due to impending sales of two business units; the company anticipates full year sales to be on par with its previous guidance.

DENSO First Quarter Revenue 1.2% Lower Compared to Previous Year

Despite a growth in sales, DENSO's first quarter revenue decreased 1.2% due to exchange rates.