Volvo CE’s North American Business Overtakes the Global Market: Q2 2026 Report

Volvo Construction Equipment recently completed its 2nd quarter of 2026, and the figures reveal two very different stories. While North America is subtly addressing one of its better streaks in recent years, the company’s global totals continue to reflect the impact of its SDLG divestment.

North America is winning among many industry giants

Volvo CE – Net sales in the North America market grew to $679.2 million in Q2, increasing 25% YOY. If we go back to the first half of 2026, the sales are 6% higher at $1.2 billion, though the figure is smaller but certainly significant in the highly uneven overall equipment market.

A trio of familiar tailwinds are responsible for the region’s strength: data center building, energy infrastructure development, and the return of manufacturing onshore, Volvo said. It is all old news to anyone who has been following capital equipment demand this year, but, significantly, Volvo is finding that it is being converted straight into sales and not just backlog.

The sales story is supported by order intake. In Q2, net orders rose 8% to 1,666 units and were up 12% in the first half to 3,553 units in North America. Deliveries were also comparable, 26% up in the quarter to 2,050 units and nine percent up in the half to 3,334.

Fusable’s data on financing of EDA equipment shows that 425 new Volvo CE machines were financed in the U.S. in Q2, with the A45 articulated dump truck and the L70H and L90H wheel loaders leading the list. The models that are going fast on the used side right now, if you are in the used heavy equipment market, are a good indication as to what’s going to be in the used fleet in a year or two.

What to catch on to in this tough global situation?

Volvo CE’s net sales dropped 6% to $2.2 billion for the second quarter and dropped 9% for the first half to $4.1 billion globally. This seems like a company that’s losing money on the books. The overwhelming bulk of that loss is the result of one move, the sale of its heavy equipment company SDLG, which was based in China.

This is particularly apparent in the number of orders that are received. Orders for large and medium construction equipment declined 49% to 6,237 units and for compact equipment, 59% to 1,859 units, worldwide. It would be wise to compare, as the Volvo folks do in the above example, because that’s why. Last year, during the same six-month period, SDLG sold 18,000+ of its own. If you take that out then the global slowdown doesn’t look like a demand slowdown; it looks more like a portfolio allocation change.

There was also a strong decline in orders for electric machinery, which dropped 85% to 156 units worldwide, though that figure was not adjusted for SDLG’s electric compact machines that were also impacted.

Global deliveries dropped 48% in Q2 to 8,834 units and 49% for the half (-16,659) primarily as a result of the divestiture of the business and not because of a sharp withdrawal of buyers.

Orders for Electric Machinery Cool Down

The order for electric machinery was also negatively impacted, falling by 85% to just 156 machines worldwide. But that’s also because the compact electric models have been removed from the inventory at SDLG.

What It Means If You are Buying or Selling 

In terms of future resale value, it’s pretty clear for contractors and fleet managers who are focused on the North American market: demand remains solid, deliveries are in line with orders, and the models that have been the most active for financing, such as the articulated dump trucks and mid-size wheel loaders, are just where buyers should find less availability and stronger values in the coming quarters.

The Bottom Line

Filter out the SDLG chatter, and Volvo CE’s Q2 2026 report is actually a tale of two markets going in a different direction. Even though the construction activity in North America is ongoing, it continues to grow on all indicators, ahead of sales, orders, and deliveries. The numbers are lower worldwide, but that is a portfolio rebalancing, not a demand issue. If you are among the buyers, sellers, or valuers of Volvo equipment in the U.S., the bottom line is this is a market on the move. The machines that are moving the fastest right now are the ones you will want to keep an eye out for the remainder of 2010: wheel loaders and articulated dump trucks.

Looking for a new Volvo machine or a machine to be added to your fleet? Check out our current used wheel loaders and available used articulated dump trucks for what’s available today!

Don’t forget to subscribe to our YouTube channel for more equipment offers and insights into the industry.