The UK’s decision to leave the European Union will have far-reaching effects on the country’s construction equipment industry, according to specialist consultant Off-Highway Research.
Impacts include a more severe than previously expected downturn in UK equipment sales, and significant overall price increases due to the depreciation of the Pound. However, the weaker Pound could also make UK-made construction machines more competitive overseas.
These issues are discussed in depth in the report, with detailed analysis across 14 individual equipment types and analysis of the impacts for key suppliers of these products.
The report also includes a five-year forecast for sales of construction equipment in the UK, which has been developed following a series of in-depth industry interviews, following the referendum result. The final section of the report discusses the different models which may be adopted for the UK’s departure from the EU, and looks at their implications for the country’s construction and construction equipment industries.