CASE Construction Equipment partners each year with Construction Equipment Magazine to produce the Annual Report & Forecast, an in-depth look at how the previous year in the greater construction industry performed compared to expectations, and what the industry anticipates for the year ahead.
It goes without saying that 2020 was not what anyone expected. While many of the industries we work in were deemed “essential”, the impact was notably felt across every market and region. Outlook and optimism varies by sector for 2021, as detailed by Rod Sutton, editorial director of Construction Equipment, in his introduction to this year’s Annual Report & Forecast:
“Most regions reported that 2020 was “average,” again off from what many expected to be a “very good” year. MidAtlantic and Pacific regions were “off,” perhaps as they housed many coronavirus hot spots and shut downs. Mountain reported a “good” 2020.
Most respondents, by vocation and region, expect a soft bounce back in 2021, with the aggregate business forecast of “good.” Pacific expects to move from “off” to “average,” while Mid-Atlantic expects to leapfrog from “off” to “good.” Home building expects to attain “very good,” but nonresidential moves up slightly to “average.”
You can read the entire Annual Report and Forecast here, with full industry-specific breakdowns for fleet managers, transportation infrastructure, water infrastructure, and residential and non-residential construction. You can download a PDF version of the report here.