Top 10 issues facing construction OEMs
The construction equipment industry, which depends highly on GDP growth and economic activity, faced the same headwinds as other industrials during the pandemic. Although it has started to recover, recent reports from major CE OEMs indicate that their 2020 sales dropped between 10 to 25 percent across markets. The numbers varied significantly by region, with companies in Europe and North America reporting higher decreases than those in Asia.
As the pandemic begins to abate, CE OEMs will face a very different landscape. Much uncertainty lies ahead, making it more important than ever to forecast demand accurately.
Here are the top 10 issues facing the sector as detailed in McKinsey's Digging out: Forecasting for constructon OEMs in the next normal.