美国2026 年机械与电气行业展望：新年新布局- 周期复苏可期-2026 Machinery & Electricals Outlook_ New year, new gear - the case for a cyclical recovery

2026 Machinery & Electricals Outlook: New year, new gear - the case for a cyclical recovery 18 December 2025 U.S. Machinery A bottom is forming in truck & ag equipment and a few positive catalysts to watch. N. America HD truck is set to decline by 6% Y/Y in 2026 at 225K units, 40K below replacement levels, but there are several catalysts ahead: driver supply reduction (CDL, ELP), a $450B in individual tax return boost raising goods demand, 2027 NOX pre-buy (bull case), and section 232 CV tariffs that benefi ...