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Brazil Cuts Taxes on Production of Several Segments
BRAZIL/SOUTH AMERICA REPORT
Taxes on Industrialized Products (IPI) will be reduced by 25% for most of industrialized goods, in a Governmental effort to boost Industry production. The total impact in federal revenue will be US$ 5 billion in 2022.
Source: M&T Read The Article
PSR Analysis: This should affect positively sales and profitability in all engine powered segments. However, profitability should be more impacted than volume. Construction Equipment should have the higher impact as well…
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Brazil Off-Highway, Industrial Segments Expect 4% Growth in 2022
SOUTH AMERICA REPORT
According to Abimaq, the total machine segment, that includes Construction Equipment, Agricultural Equipment, Power Gen-Sets, Industrial Equipment and others, grew 20% in 2021 and should grow more than 4% in 2022. When breaking down by subsegment, ABIMAQ see the segments impacted by infrastructure growing around 15% and the segments impacted by Agriculture growing pushed by the harvest growth.
Source: M&T / Abimaq Read The Article
PSR Analysis: The just…
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Global: Recovery Is Strong, but Uneven
GLOBAL REPORT
Yosyf Sheremeta SUMMARY. The global economy performed very well in 2021 and continues to recover, along with trade, employment and incomes. But the revival is unbalanced, with regions/countries, businesses and people facing very different economic realities. Recent improvements also conceal structural changes, which means that some sectors, jobs, and technologies will not return to their pre-pandemic trends. Based on the most recent economic developments and trends, Power Systems Research remains somewhat optimistic about the global recovery.
Many of us hoped to be in the post-Covid phase by now, but it is evident that there is no quick way out. The pandemic has had a profound impact on the world economy, and it will continue to challenge established norms of life and business into the foreseeable future. As we start the new year, many challenges remain, new and old alike: re-surgency of COVID variants, restrictions on travel, supply chain challenges, shortages of materials/goods, inflation, and employment, as well as renewed geopolitical tensions across many parts of the globe.
Power Systems Research witnessed a strong economic recovery globally in 2021, despite regional differences. Output in most OECD countries has now either surpassed or is about to reach pre-pandemic levels, but lower-income economies, particularly those where vaccination rates are low, are at risk of being left behind. Furthermore, the rebound will continue to vary widely among different market segments.
Global inflation re-surfaced in 2021 and presents a real risk to economic recovery in all regions. The renewed inflationary pressure risks lasting longer than was expected a few months ago. The surge in retail and wholesale energy costs in late 2021 will undermine economic growth prospects for large parts of Europe and Northeast Asia well into 2022. Rising food and energy prices already have impact on low-income households in particular.
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Cummins Announces Hydrogen and Electrified Portfolio in Brazil
When completing 50 years in Brazil, Cummins announces the arrival of the New Power unit in South America. This includes Electric propulsion, NG Engines, cleaner Diesel Engines, Fuel Cell and mainly Hydrogen.
Source: M&T Magazine Read The Article
PSR Analysis: As part of its global strategy, Cummins in South America, leads in the first phase in market niches with NG Engines and follows with other new solutions in the following phases. PSR
Fabio Ferraresi is Director, Business Development South…
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Global Economy On the Path To Economic Recovery, Despite Increased Uncertainty
Yosyf Sheremeta The global economy is on a healthy rebound trend, but issues with supply chain, logistics and the re-surgency of COVID-19 during Q3 2021 remained. Power Systems Research witnessed a strong economic recovery globally in H1 2021; however, many challenges still remain. The rebound will continue to vary widely among different regions/countries, but a complete recovery is not expected until the global pandemic is under control. With some minor changes among regions and market segments globally, our overall forecast from last quarter remains in place, and that is good news to our industry players, OEMs, powertrain, and component suppliers.
The global economic performance last quarter was in line with our initial projections from earlier this year. As we projected last quarter, we did not expect any rapid economic recovery in H2 2021, however, we continued to witness a steady increase in economic activities. During the last quarter of 2021 Power Systems Research expects this trend to remain in place.
Government support in the form of fiscal policies and public health management are driving the economic rebound and largely explain variations in performance across countries. With the targeted monetary support to consumers and certain industries, the demand for products and services globally is coming back, and we expect this trend to carry over into Q1 2022.
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Sinara May Dismiss 20% of Workers Because of Reduced Orders
Maxim Sakov The machine building company “Sinara – Transport machines” (STM), says it may be forced to dismiss 20% of personnel because it has lost most of its orders from Russian Railways for cranes and other railway service machines.
Sinara has lost 85% of the orders from Russian Railways for railway service machines. Because of decreasing orders from the railway monopoly, the main client of STM, 7,000 people on its plants have not worked since August. The total personnel number in STM is 32,000 people, so about 20% of its personnel is questionable. Now, the company is looking for a way to re-qualify these people
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KAMAZ Introduces Hercules Articulated Truck
The first pictures of the new KAMAZ articulated mining truck have been published, showing a configuration of the truck with a 6×6 chassis. It will compete with the Caterpillar 740 and Volvo A40F.
The articulated frame will increase maneuverability and off-road characteristics of the truck. Hercules will be equipped with a hybrid powertrain. The new truck will use a KAMAZ R6 engine of 450 hp, and the nominal output of every electric motor will be 517 hp. The load capacity of Hercules is 40 tons, and the full weight is 75 tons. A light option with 4×4 format and 25-ton capacity are also in the plans.
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Strong Post-pandemic Growth Expected into 2022-23 for North America
Yosyf Sheremeta SUMMARY. After the GDP declined 3.5% last year, the worst performance in almost 75 years, the US economy is set for a strong comeback. There are many reasons to be optimistic about the economy for the next few years, including strong readings of macro-economic factors combined with the economic cycle reset backed by government initiatives and policies.
Our positive outlook is based on the reviews of key economic indicators, including GDP, unemployment, and inflation.
During H1 2021, we witnessed a strong level of activities and a rebound for many industries. As local governments eased lockdown restrictions, service-oriented industries gained traction and that translated to an overall increase of economic activities across many industries.
We expect this level of rebound to continue and we now expect even stronger overall growth for 2021. The US economy is on track to reach or even surpass the growth level of 1984 – the highest one since 1950s. In the near term, consumer spending will help drive demand and support the strong growth trend.
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DATAPOINT: NA Excavators, 2021 Production: 19,900 Units
19,900 units is the estimate by Power Systems Research of the number of Excavators to be produced in North America in 2021.
This 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.
Market Share: With combined plant totals of 47.5% Caterpillar leads in production of excavators in North America. In second position is Doosan Bobcat with 22%; third, is Deere-Hitachi with 14.5%.
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Komatsu and Honda Plan To Jointly Develop Electric Excavator
Komatsu has announced that it plans to develop an electric excavator in cooperation with Honda and bring the product to the market during FY2021. The two companies will also jointly develop electric excavators up to the 1-ton class and will also collaborate on services such as battery replacement for construction equipment.
Source: The Nikkei
PSR Analysis: As mentioned in the April issue of PowerTALK™ News, four Japanese motorcycle manufacturers, Honda, Yamaha, Suzuki and Kawasaki, have agreed to share…
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