2026-03-14
CONEXPO 2026 Shows Hybrid Power Gear
LAS VEGAS—Many visitors to the CONEXPO-CON/AGG 2026 show here March 3-7 arrived from the cold and snowy Midwest and East Coast. The show exhibit areas covered 2.9 million square feet; with some of the exhibit areas being outdoors attendees felt the warmer than normal temps this time of year where Las Vegas had a record temperature of 86F on March 1. Those warmer temperatures lingered throughout the week.
This year’s show at the Las Vegas Convention Center drew an estimated 2,000 exhibitors and while attendance figures were not available as we prepared this report, observers said traffic was very heavy and attendance was expected to surpass the record 139,100 figure set at the last show in 2023.
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CONEXPO Provides NA Market Outlook
We talked with many industry representatives at CONEXPO, and we generally heard that the North American construction equipment market is performing relatively well and that it is expected to experience low single-digit growth in the near term, with demand remaining stable. Demand continues to be supported by infrastructure investment and ongoing construction activity.
OEM representatives said their cautious forecasts were affected by factors such as interest rates, inflation, tariffs and global supply chain disruptions.
Tariffs were repeatedly mentioned as one of the main uncertainties affecting the industry. Frequent policy changes are impacting equipment pricing, sourcing strategies, and global supply chains. Manufacturers are adjusting sourcing strategies and regional production to mitigate tariff exposure.
The industry is moving toward a dual technology pathway. Electrification continues emerging in compact equipment and adoption is increasing slowly as customers become more familiar with EV solutions. Advanced diesel engines remain dominant in medium and large machines, and according to experts, diesel will remain the dominant technology for a long time.
OEMs said they are investing heavily in new engine platforms, efficiency improvements, telematics and connectivity.
We were able to identify a number of trends, based on field interviews and observations conducted during OEM and engine manufacturer booth visits.
Powertrain, Engine Technology Trends
Diesel engines remain the dominant power solution for medium and large construction equipment. Large equipment used in remote areas still requires internal combustion engines due to power needs and operational constraints. According to interviews made by PSR, diesel will continue to be the preferred power solution.
Manufacturers continue to improve fuel efficiency, simplify engine architecture, and enhance durability. Manufacturers showcased different alternative power solutions and are still exploring and testing hydrogen combustion engines, hybrid systems, and introducing multi-fuel platforms (hydrogenated vegetable oil, hydrogen, biodiesel, and natural gas) to the market.
Several companies presented prototype hydrogen engine concepts, although these technologies remain in testing phases or with some few customers. One of the key operational challenges for hydrogen equipment is the lack of fueling infrastructure. As an example, Power Systems Research analysts interviewed executives of JCB, and the company explained that its hydrogen combustion engine technology is already on the field with a limited number of customers, although the market is still at an early stage of deployment.
JCB has developed a mobile hydrogen refueling unit in conjunction with a supplier company that delivers hydrogen directly to job sites, so the fuel logistics is handled as part of a service package supporting early adopters. The main takeaway from the interview is that hydrogen combustion technology is technically viable but still constrained by fueling infrastructure.
Regarding multi-fuel platforms, major manufacturers like Perkins and Cummins showcased engines designed to run on low-carbon fuels, including hydrogen, HVO, and natural gas, aiming to provide flexible, lower-emission solutions without sacrificing performance. Cummins next generation X15, and Perkins 2600 Series were showcased at the venue. FPT showcased it´s multi-fuel XCursor 13. Isuzu also presented it´s multi-fuel engine concepts based on its established engine architecture.
Electrification Trends
Compact equipment segments show the highest experimentation with electrification and alternative power solutions, while large machines such as dozers and large excavators continue to rely primarily on diesel power due to high energy requirements.
Electrification is primarily being applied to compact equipment used in urban environments, as well as in some remote applications supported by portable power stations or battery storage units.
Battery-electric prototypes and electric power units were showcased, with some already available in the market and others currently being tested as potential replacements for diesel engines in smaller and medium-sized equipment.
There is a growing trend toward presenting these technologies, and several new models were introduced during the show by different OEMs and engine manufacturers. Examples include the Perkins battery-electric power unit, the Komatsu electric micro excavator PC01E-2 made in Japan, the JLG scissor lift ES1930M Micro-Sized, the mini track loader TL100EV from Case, and the Dynapac CC1000e electric vibratory roller.
Charging infrastructure and operational limitations continue to restrict wider adoption of electric equipment across the broader construction equipment market.
Additional technologies presented included autonomous and robotic equipment, such as the RogueX3, Bobcats third-generation autonomous compact loader concept. This machine was introduced to explore the future of compact construction equipment through electrification, autonomy, and modular machine architecture.
OEM & Engine Manufacturer Highlights
While walking the CONEXPO, we saw several interesting engine platforms and alternative power technologies at engine manufacturer booths. Interestingly, a number of the innovative products were diesel powered.
Diesel Engines
| Manufacturer | Engine Model | Displacement | Power | Notes |
| Cummins | F3.8 Power Unit | 3.8 L | 74–173 hp | Modular power unit for off‑highway equipment |
| Cummins | X15 Next Generation | ~15 L | Up to ~700 hp | Heavy‑duty multi-fuel engine platform |
| Perkins | 904J‑E36TA | 3.6 L | ~134 hp | High power density compact diesel engine |
| Perkins | 2606J‑E13TA | ~13 L | ~690 hp | Large industrial diesel engine platform and multi-fuel |
| Kubota | V5009 | 5.0 L | ~210 hp | Stage V / Tier 4 Final diesel engine |
| John Deere | JD5 | 5.0 L | 125–268 hp | Mid‑range diesel engine platform (under development) |
| John Deere | JD8 | 7.5 L | 250–389 hp | Heavy‑duty diesel engine platform (under development) |
| Kawasaki | GEOTORQ | 2.4 L | ~95 hp | Gasoline engine alternative to small diesel |
| Hyundai | DX05 | 5 L | 230hp | Diesel engines |
| Hyundai | DX08 | 7.5 L | 341hp | Diesel engines |
| Komatsu | DBA127 | 12.74 L | 563 hp | Industrial diesel engine platform |
| Rehlko | Command Pro EFI ECH936, ECH938, ECH941 | 999 cc | 36-41hp | Gasoline engine |
| Hatz | F Series | 0.952-1.758 L | — | Diesel engines |
Alternative Fuel and Electrified Power Systems
| Manufacturer | Engine / System | Technology | Status |
| Deutz | TCD 12.8 | Diesel, HVO certified | 390 kW, 6-cylinder, 12.809 L |
| JCB | Hydrogen ICE | Hydrogen combustion engine | 4 cylinder, 74 hp @ 2000rpm |
| FPT | XCursor 13 Hydrogen | Hydrogen internal combustion | 12.9 L, In-Line 6-cylinder, 512hp |
| Hyundai | H2ICE Hydrogen Engine | Hydrogen ICE | In-Line 6-cylinder, 11.1 L displacement, Euro 6 (Zero-CO2), EPA Tier 4 Final, EU Stage V |
| Perkins | 1206 Hydrogen Hybrid IOPU | Hybrid hydrogen power unit | Prototype |
| Perkins | Battery Electric Power Unit | Battery electric drivetrain | Prototype |
2026-03-08
PSR Adds Team Members
Power Systems Research has added two members to its team of analysts and account executives. Jack Prince, joins as a Business Development Manager in Ann Arbor, MI, and Jansmin Reichert comes aboard as a Junior European Market Research Analyst in our Brussels office.
Jack Prince brings more than 25 years of business development and commercialization experience to the global automotive and mobility industries. He uses research and data to help clients identify market opportunities and improve business efficiency while enhancing product performance.
Jack has advised emerging ventures on market discovery, product strategy, and investor engagement. His experience includes supporting global ventures in electromechanical systems, radar and sensor technologies, structural plastics, SaaS platforms, and vehicle access solutions. Jack holds a Bachelor of Science in Business Administration and is currently completing an Executive MBA at Michigan State University.
Jasmin Reichert is our Junior European Market Research Analyst operating out the Brussels office. She will be responsible for developing European market research and production data analysis for original equipment and engine applications for Power Systems Research’s OE Link™ and EnginLink™ databases.
Jasmin specializes in public affairs and digital policy, and she has experience in EU tech regulation and strategic research. Prior to joining Power Systems Research, Jasmin worked in European parliamentary research, and on technology policy and on technology in the economy. She graduated from Passau University in Bavaria, with a degree in European Studies. She also holds a Master’s degree in European and East Asian Governance. Jasmin joined Power Systems Research Feb. 1, 2026. PSR
2026-02-24
Q4 2025 Truck Production Climbs 3.7%
and
The Power Systems Research Truck Production Index (PSR-TPI) increased from 107 to 111, or 3.7%, for the three-month period ended Dec. 31, 2025, from Q3 2025. The year over-year (Q4 2024 to Q4 2025) loss for the PSR-TPI was, 113 to 111, or -1.8%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets. This data comes from OE Link,™, the proprietary database maintained by Power Systems Research.
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Alternative Power Report, February 2026
In the February 2026 issue of the Alternative Power Report produced by Power Systems Research and authored by Guy Youngs, you’ll find articles on Tesla committing suicide by shifting away from auto productions, Germany’s new stance on hydrogen, new 4X power sodium-ion batteries, Europe’s hydrogen bus experiment, and Mercedes introducing a new solution to cut pollution. Read these articles and more in the February Alternative Power Report today. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
2026-02-22
North America Tractor Production
80,800 units is the estimate by Power Systems Research of the number of Ag Tractors expected to be produced in North America (United States, Canada, and Mexico) during 2026.
This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.
2-Wheel Drive Tractors are farm tractors that have a drive train that allows two wheels to receive power from the engine simultaneously. Normally, the rear axle is powered by the engine.
4WD Articulated Ag Tractors are farm tractors built with an articulated chassis very similar to the design used for articulated wheel loaders. Each element of the articulated chassis has a rigid drive axle, and the front and rear elements are connected by a pivoting/ articulating joint. This design uses rigid (i.e. non-steering) drive axles and is typically used for large, high-HP tractors.
MFWD Tractors (Mechanical Front Wheel Drive) are farm tractors which feature a rigid chassis with steerable front-drive axles. This designation applies to both full-time 4WD and front-assist-drive configuration tractors across a broad HP range. Both configurations are produced in significantly greater volume than the 4WD Articulated type tractors.
Tracked Ag Tractors are steerable multitrack tractors with powered rubber tracks instead of wheels to move the vehicle. The crawler-type tracks are flexible and reinforced with steel. They are usually powered by hydrostatic or completely hydraulic driving mechanisms. They can be articulated or nonarticulated.
Trends. In 2025, production of Ag Tractors in North America decreased 6.2%. Production is expected to drop by nearly 6% in 2026.
Prior declines in 2020 were attributed to COVID-19 related issues which included unusually high orders for materials and parts. Inventory levels are at the lowest level in decades and have left the supply chain a mess, according to leading tractor manufacturers and AEM.
Production of machinery and components needed to build equipment has been halted. This negatively affected demand for farm machinery and contributed to overall lower sales and profits for agricultural equipment operations.
New tractors have become very expensive and have weakened demand. Reduced demand also has been linked to lower commodity prices.
The peak of Ag Tractor production was in 2013. Expect production to remain flat with a potential 10% decline by 2035. PSR
Carol Turner is Senior Analyst, Global Operations, for Power Systems Research
Tesla Committing Automotive Suicide
Following its Q4 2025 financial update, Tesla appears to be pivotally shifting away from its identity as a traditional automaker. By phasing out the Model S and X to focus on ‘Transportation as a Service,’ leadership is betting heavily on an autonomous-first business model.
And instead of building on that success, expanding into new segments, addressing affordability, and competing with the flood of new EVs from legacy automakers and Chinese competitors, the company that revolutionized the auto industry is walking away from it.
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Audit Court Calls Time on Hydrogen Inevitability
“The October 2025 special report from Germany’s Federal Audit Court, Implementation of the Federal Government’s Hydrogen Strategy, lands with unusual weight because it is not a policy critique or an academic intervention, but a statutory budgetary assessment delivered to Parliament,” reports Clean Technica.
It evaluates the hydrogen strategy against the legal requirements of the Energy Industry Act, namely security of supply, affordability, environmental sustainability, climate neutrality, and fiscal prudence, according to the article.
“Its conclusion,” notes the Clean Technica article, “is that the hydrogen strategy is not meeting these tests, despite US$ 5.1 billion (€4.3 billion) allocated in 2024, more than US$ 3.56 billion (€3 billion) in 2025, and multi-billion-euro commitments extending through the end of the decade.”
Source: Clean Technica Read The Article
PSR Analysis: The audit report also refers to the current plan as implausible rather than ambitious and this makes one question how countries can invest tens of billions into infrastructure of an effectively unproven technology ecosystem, at least at this scale. One might think funding a decent but “very small scale trial” might be more prudent. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
Researchers Improve Sodium-Ion Batteries Almost 4X
The sodium-ion battery formula has some advantages over conventional lithium-ion batteries, including the use of non-flammable, abundant materials and the potential for cutting costs.
One of the areas for improvement is the anode materials. The graphite used in lithium-ion batteries is not a candidate because it can’t store sodium. The consensus alternative has been hard carbon, a form of carbon that doesn’t devolve into graphite under high heat. However, hard carbon can inhibit capacity during the anode formation stage, when the battery is being manufactured
A team of researchers at BAM (the Federal Institute for Materials Research and Testing) in Germany, noted that the loss of capacity during the manufacturing process is the result of a chemical reaction between the electrolyte and the anode. The BAM solution involves a customized form of activated carbon, applied over a core of sponge-like hard carbon in a thin layer. “Activated carbon is commonly used as a filter, and that’s what it does here, allowing sodium ions to reach the hard carbon core while keeping the electrolyte out,” reports Clean Technica.
Source: Clean Technica Read The Article
PSR Analysis: Sodium-ion batteries have been lingering around the fringes of the vehicle electrification movement for years. A breakthrough moment may have finally arrived as the hurdles to commercial application have fallen. If indeed this activated-carbon trick holds up in large-scale production, it might become the biggest news in battery tech in recent years. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
