This article discusses micro perspective and focusses on OEMs as individual entity and not on industry as a whole. Challenges for the industry has been discussed in a different article.
This article discusses a macro perspective, focussing on the industry as a whole (and not on OEMs as individual entities). There is a separate article for that which discusses possible solutions as well.
CASE construction equipment recently unveiled project zeus under which it launched a cool new all electric backhoe loader. The model 580 EV is industry’s first fully electric backhoe loader. It is not merely a prototype but also is in production and sales.
There is a very interesting difference between passenger car sales and construction equipment sales, at least in India. One may assume that GDP growth boosts both. However, it is not necessarily true.