News: PowerTALK

2022-11-15

Powersports Market Expected To Exceed US$ 50 Billion

Power Systems Research is forecasting global revenue for the Powersports industry to grow from $31.5 billion in 2020 to US$ 50.91 billion in 2030, a CAGR of 6% over the forecasted period.

Global Powersports Market
All-Terrain Vehicles, Side-by-Side, Powerboats, Snowmobiles and Heavyweight Motorcycles

Drivers-of-Demand. There are many factors driving the global powersports market growth:

  • Increased all-terrain vehicle popularity.
    • These include the rising participation in recreational activities, like surfing, off-road driving, and snowmobiling.
    • According to the International Snowmobile Manufacturers Association around $36 Billion is spent directly and indirectly on snowmobiling in the US and Canada each year.
    • ATVs have lesser age restrictions, lower maintenance costs, are easier to maneuver due to low vehicle weight and are more affordable
    • Rise in use of powersports to boost adventure tourism traveling to new locations for gaining new experiences, with controlled risk components and personal challenges in wild & exotic environments.
    • People are raising the bar for racing by introducing new terrains and challenges.
    • The market in Europe is expected to showcase exponential growth backed by government policies that promote recreational and off-road leisure activities.
    • Global governmental initiatives to boost the tourism industry by assisting recreational clubs in enhancing their service offerings are creating a favorable environment for the market participating in the construction of dedicated infrastructure for recreational and amusement purposes.
  • Technological innovations have played a major role in developing vehicles.
    • New products have increased comfort, power, engineering, and safety.
    • Utility-terrain vehicles (UTVs) have improved durability and adaptability for off-road riding.
    • Growth in investments and rapid innovations in the automotive sector have resulted in improved performance of powersports vehicles. This has resulted in improved vehicle efficiency, reduced noise and higher power of vehicles. Companies are also focusing on developing electric products for quieter more powerful riding.
  • Growing consumer disposable incomes make it easier for customers to purchase leisure and recreational power equipment.
  • Data prepared by the U.S. Bureau of Economic Analysis (BEA) show that outdoor recreational activities accounted for US$ 374.3 billion in 2020, which is 1.8% of the overall U.S. GPD in 2020.
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2022-11-14

Smaller Bauma Returns To Munich

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Summary. After more than three years, Bauma, one of the largest construction events in the world, reopened its doors for seven days in Munich Oct. 24. Power Systems Research (PSR) had a five-person team at the event, discussing trends with industry representatives, from new products and services to topics around the future evolution of sustainable technologies.

The show was smaller than the last time it was held, in 2019. Close to 3,200 exhibitors from 60 countries (2019: 3,684 exhibitors from 63 countries) participated and more than 495,000 visitors from over 200 countries (2019: 627,603 visitors from more than 200 countries) came to Munich for the event.

Bauma is the world’s leading trade fair for construction machinery, building material machines, mining machines, construction vehicles and construction equipment. International visitors made up about 50% of the attendance. That’s a change from 2019 when about two-thirds of visitors came from Germany.

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2022-10-21

Toyota Launches India’s First Flex Fuel Hybrid

INDIA REPORT 

Aditya Kondejkar

Toyota has launched  the Corolla Altis, India’s first flex-fuel engine. This car will be able to run on petrol or ethanol as well as electric power. It is part of a pilot project developing Flexi-Fuel Strong Hybrid Electric Vehicles in India.

Source: Hindu Times    Read The Article

Because of the great diversity in India’s consumer population, especially its per-capita income disparity, and multiple applications of vehicles, India might not use one technology but might use a combination of technologies involving various fuel types.

The Indian market can’t simply shift from petrol/ diesel engines to EVs over the next few years. Hence, many OEMs are working on CNG/ hydrogen/ hybrid vehicles.  Toyota has launched this new vehicle for the Indian market as part of these efforts.

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Urban Railroads Delayed

SOUTHEAST ASIA: VIETNAM REPORT

The development of urban railroads in Vietnam has been significantly delayed. The opening of the second line in the capital Hanoi is expected to be delayed to 2027, and the first line in the southern city of Ho Chi Minh City may not open until the end of 2023.

In addition to financial difficulties, there are cases where administrative authorities are not proactively resolving problems, leading to further delays.

In mid-September, Hanoi City abandoned the planned Hanoi Urban Railway Line 3 (Nhon Hanoi Station), which was planned to run through the center of the city, to open by the end of the year. The line is 12.5 kilometers long. Construction of the line began in 2010, and although it was originally planned to open in 2015, it is believed that the plan has already been changed about five times.

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Hyundai Motor and KT Invest in Autonomous Driving

FAR EAST: SOUTH KOREA REPORT

The Hyundai Motor Group and telecommunications giant KT have formed a capital and business alliance. The two companies will invest about 750 billion won in each other by exchanging their shares.

The two companies will jointly develop communication-related technologies to produce autonomous driving equipment. In addition to automobiles, Hyundai Motor is expanding its business in the fields of robotics and urban air transportation (UAM, or flying cabs), and has decided that partnering with KT will enable it to accelerate research and development in fields other than automobiles.

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Agri Week 2022 Report: Drones Become Popular

FAR EAST: JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Agri Week 2022 is a comprehensive exhibition on agriculture, livestock, and horticulture. It is held twice a year in Kyushu and Kanto. Agricultural materials, smart agriculture products, livestock materials, and products related to industrialization are exhibited. Agriculture Week consists of the following four exhibitions: AGRI TECH (Material & Technology), AGRI NEXT (Next Generation), AGRI PROCESS (Farmer‘s Processing), LIVESTOCK (Livestock Supply & Equipment)

Source: Official HP

PSR Analysis: The drone market is seeing an increase in the number of new entrants. Currently, the market size is estimated to be around 300 billion yen, but some say it will grow to nearly 800 billion yen in five years. This is because the revision of the Civil Aeronautics Law to be implemented this December will lift the ban on Level 4 unassisted visual flights in manned areas. Until now this has been limited to Level 3 unmanned areas. Currently, the use of drones is mainly for spraying chemicals, but it is also being considered for logistics, inspections, civil engineering, and construction.

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Mercedes Produces Initial Heavy Trucks in China

CHINA REPORT
Jack Hao
Jack Hao

Mercedes-Benz heavy-duty truck factory in China has started mass production and its first domestic Chinese heavy-duty truck has rolled off the assembly line. The rollout reflects the Mercedes Benz truck localization project, under which Mercedes is producing heavy duty trucks built specifically for the domestic Chinese market.

The first batch of Mercedes Benz domestic heavy trucks is scheduled to  be delivered to customers in early November.

In the process of localization, MB is striving to achieve a balance between high quality and cost. It is working with 150 domestic suppliers to improve manufacturing quality capability and localize the supply of more than 1500 parts. Presently, the localization rate of Mercedes Benz heavy truck Actros series exceeds 50%, and the localization rate of Actros C series is 90%.

Mercedes Benz trucks has established a Mercedes Benz business unit under the joint venture of Daimler Trucks Co., Ltd. and Foton Motor, which have a 50: 50 share ownership.

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Mexico Truck & Bus Update. Alternative Power Sources Displayed

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Show Report: Expotransporte 2022
PSR-Show-Reports-Expotransporte-2022_F2Download

Editor’s Note: This report includes a conversation with Miguel Elizalde Lizárraga, the executive president of ANPACT (the National Association of Bus, Truck and Engine Manufacturers) and a visit to the Expotransporte 2022, the largest truck show in Latin America.

Lorena Violante
Lorena Violante

ANPACT represents the trucks, buses and engine manufacturers in Mexico. It participates actively with government organizations and other important related associations to ensure the truck and bus industry gets enough support, incentives, alliances, agreements and information to grow in the local market. Also, to continue with their outstanding role as one of the most important exporters of heavy duty vehicles globally.

The ANPACT gathers the most important trucks, buses and engine manufacturers in Mexico such as Kenworth, Freightliner, International, Mercedes Benz, Man, Volkswagen, Scania, Dina, Mack, Volvo, Isuzu, Hino, Detroit and Cummins.

During our conversation, Elizalde provided timely insights into the Mexican transportation industry and the major market challenges this country is facing today.

Chris Fisher
Chris Fisher

Vehicles manufactured in Mexico produce an important impact on the country’s economy, logistics and mobility. For example, 71% of the foreign trade value is moved to the US through heavy duty trucks. Much of the movement of goods in Mexico is through trucks, and people use buses as their main transportation.

According to ANPACT´s August statistics, manufacturers produced a total of 127,858 heavy duty vehicles from January through August this year. This is 18% more than 2021 production. Through August, export volumes increased by 15.7% (106,824 units) compared to 2021. Retail demand has increased so far by 20.5% (25,196 units).

Current challenges the transportation industry is facing today in Mexico include road safety, environmental regulations implementation, supply chain lead times, driver shortage, e-commerce, vehicles renewals, safety and energy infrastructure.

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Scania, VW and Volvo Show Euro VI Lineup

Three OEMs have announced new fuel efficient products.

Scania has announced an 8% fuel consumption improvement with Super 13 liters engines and promises 50% maintenance stops reduction. Volvo has announced a new Euro VI line with Volvo Engine produced in Brazil, replacing MWM on the VM platform. VW fuel consumption improvement is in the 5% range and the company reports 4,000 units Euro VI sold in 2022 already.

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GM Opens Third Shift at Joinville Engine Production Plant

GM has added a third shift at its plant in Joinville, SC, Brazil, to increase production capacity and supply engines for the Montana, the new Light Pickup below the S10 size. The capacity production increase forecast is 30%.

Source: Automotive Business     Read The Article

PSR Analysis: The new GM Montana pickup is aimed to complete with the Fiat Toro and Fiat Strada, and grab market share from the leaders. GM also expects to export engines, if the shortage of semiconductors can be solved, which will allow the plant to reach the desired production levels.    PSR

Fabio Ferraresi is Director-Business Development, South America, for Power Systems Research