2025 Construction Executive Outlook: Scott Young, Head of North America, Volvo CE

Editor’s Note: This is one of four Q&As with top executives from construction equipment manufacturing companies. To read perspectives from Brady Seveart, Bobcat VP of Construction Sales, click here. Stay tuned for new perspectives next week.

OEMs saw mixed growth in 2024 as the economy continues to recover from a period of stubborn inflation, high interest rates and global conflicts.

But ask some of the top construction equipment executives about their forecast for 2025 and the outlook gets a little rosier.

For this series of Q&As, Equipment World tapped a handful of construction industry leaders to find out what trends are shaping their strategy in 2025, how they plan to invest in their manufacturing and dealer operations and where the greatest opportunities and roadblocks lie.

Our slate of experts also touched on technology – from telematics to AI – and the next steps in their alternative-power transformation.  

Keep reading to see where our second expert, Scott Young, head of region North America for Volvo Construction Equipment, is placing his bets in 2025:

Equipment World: Looking back on 2024, what is your biggest learning or a-ha moment?

All OEMs have been dealing with shortages since the pandemic. In 2024, we saw the construction market recalibrate rather swiftly toward more normalized supply levels. Thankfully, the North American market has remained a bit stronger than some other regions, and we have been able to navigate these market changes and appropriately meet customer demand.

2024 and 2025 mark our biggest launch years ever, refreshing more than 30% of our products and offering many new services. With this expansion of our portfolio, we can support customers across all major segments. The ongoing addition of electric machines underscores our commitment to sustainable solutions as well.

EW: What trends are shaping your strategy in 2025?

Flexibility and agility will be essential in responding to market demands and geopolitical impacts. Being flexible and agile in the way we use data and technology and in the development of sustainability systems will be critical.

EW: What do you see as the biggest construction market opportunity in 2025?

We’re hearing a lot about megaprojects like data centers and the energy infrastructure needed to support them. The big players in these fields are taking the initiative and have similar sustainability goals to ours, so they’ll be looking to us for support. That is where the benefits of our entire Volvo Group organization can make a difference: We can be a great partner because of our transport solutions, construction solutions and strong focus on technology.

EW: What will be the greatest challenge?

Continuing our transformation to sustainable power systems and leveraging data to enhance customer value are two big challenges we are excited to keep working on. We recognize that the North American market is highly competitive because of its strength, and we are confident we have a lot to contribute.

EW: What issues are your dealers facing and how will you help them address those problems in 2025?

Just like us, dealers are working on their “new normal” post-pandemic, while also making shifts toward future solutions. Finding the capital for inventory and investment are always top of mind for them, and we want to provide the least resistance possible. We continue to work on forecasting and programs that can help dealers meet customer needs. Whether a customer has a single machine or hundreds of machines, their needs will still be specific to them, so it’s a matter of improving their experience as much as we can and learning together along the way.

EW: Will you make investments in your manufacturing and distribution networks next year? If so, what will they be?

We are always evaluating our manufacturing operations and our distribution networks with an eye toward enhancements that will ultimately benefit our customers.

EW: What technology do you see as having the most potential in the near-term?

AI is a tool that can be easy to implement and will make us more efficient. We can use it to evaluate data, build scenarios, forecast needs, conduct performance analysis and free people up from these tasks so they can focus on creating value and connecting with the customer. It’s about making the customers’ lives easier, of course, but also our dealers’ and employees’ lives.

EW: What's the next step in your alternative-power plans? What kind of demand are you hearing from end users on electric, hydrogen or other alternatively fueled equipment?

We have invested in several new technologies — both conventional and electric — to meet customers where they are in their transformation journey. We hear mixed feedback, but that’s because we’re still very much in the education phase. Big drivers of demand right now are the types of incentives and regulations in place where customers are located.

We’ve said from the beginning that sustainable power is not one single solution. It will take a mix of power sources and ways of integrating them into fleets. People are still learning about the possibilities — and availability — of these solutions. We enjoy working closely with customers to show them what’s possible and learn about their specific applications and needs. And we’ll continue working on various power sources with a focus on driving customer value.

EW: How do you expect Trump’s presidency to affect your business or your customers’ businesses?

As a global company, we work in markets around the world and are used to changes in administrations. While shifts in leadership may bring new policies, our focus remains unchanged: being a great employer, being the best partner possible to our customers and dealers, and helping communities build the world they want to live in.

EW: How would increased tariffs on Chinese goods from the Trump administration impact your business next year and beyond?

It’s too early to speculate. There are still many unknowns, including exactly what goods would be subject to tariffs and how the tariffs would be applied.

EW: Any other nuggets of wisdom you’d like to share for the year ahead?

Over the past decade, we've maintained a solid double-digit operating margin thanks to our focused strategy that includes a strong brand, product and market mix in core segments. We are also increasing our share of the services business while maintaining a strong sales volume of heavy equipment, particularly in Europe and North America.

We expect continued positive momentum in 2025 and a relatively strong year for the construction and equipment industries. We remain focused on leading a sustainable transition of the industry.

Scott Young currently serves as Head of Region North America for Volvo Construction Equipment, a position he has held since September 1, 2023. He is based out of the company’s Shippensburg, Pennsylvania headquarters.

Scott brings a wealth of knowledge and more than 23 years in the construction equipment industry at both Ingersoll-Rand and Volvo CE. His experience includes distribution, sales, engineering and uptime support as well as his extensive network in the Volvo Group globally and the North American dealer network.

In his previous role, Scott served as Head of Uptime, where he led teams to implement new technologies and business models focused on services and product support, in partnership with the Volvo CE dealer network.

Between 2014 and 2019, Scott was based in Belgium and Sweden with responsibility for the company’s emerging electromobility and automation strategies and new product development. He began his Volvo Group career in 2008, and previous roles include Director of Strategy and District Business Manager.

He holds a degree in civil engineering from the South Dakota School of Mines and Technology, Rapid City and an Executive MBA from the University of Illinois, Urbana-Champaign.