Earthmoving equipment demand on a high
According to industry reports, the earthmoving equipment segment accounts to more than 60 per cent by volume, which in turn sets the tone for the overall equipment market. Backhoe loaders and hydraulic excavators together make most of earthmoving equipment industry. As the major category in the construction equipment market, the growth of earthmoving equipment market depends on the infrastructure development and mining activities. Though the market was impacted by the Covid pandemic induced slowdown, the market is seeing green shoots after a revival in mining and construction activities back in action.
The 2020 challenge
“We should look at the market situation before Covid-19 hit us to understand where we are today as an industry,”&