North American Power Industry Outlook: Spending Takes Dip in 2020, but On the Rise Again

SUGAR LAND--January 22, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Like other industries, spending in the Power Industry in North America took a dip in 2020 as several projects were delayed and deferred due to the coronavirus pandemic. Last year started off as having one of the highest amounts of planned spending seen in recent years. However, in the end, less than one-third of this was actually realized--coming in about $52.8 billion. This year and 2022 promise to bring both higher spending and higher project realization rates in the industry. In Industrial Info's recent North American Industrial Market Outlook, Britt Burt, vice president of research for the Power Industry, discussed the market drivers and trends affecting the industry in North America.