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According to Power Systems Research intelligence, the global powersports market size was valued at $31.41 billion in 2023, and is projected to reach $53.64 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.
Power Systems Research is a Minnesota-based research firm that has been tracking global production of power equipment since 1976.
The recreational powersports segment represents activities ranging from off-roading, motocross, and all-terrain and side-by-side vehicle riding to on-road motorcycling and enjoying water equipment such as pontoon boats and jet skis.
St. Paul,
MN (October 12, 2017)— The Power
Systems Research global Truck
Production Index (PSR-TPI) deceased from 116 to 105, or -9.5%, for the
three-month period ended September 30, 2017, from Q2 2017. However, the
year-over-year (Q3 2016 to Q3 2017) gain for the PSR-TPI was 101 to 105, or
3.9%.
Overall, the global commercial truck
industry is stronger than it has been in a number of years and is expected to
continue to be strong moving into 2018.
While there are still concerns about regional economies such as South
America and Greater China, the global economies continue to improve.
ST. PAUL, MN (JULY 14, 2017)—The Power Systems Research Truck Production Index (PSR-TPI) increased from 100 to 114, or 14%, for the three-month period ended June 30, 2017, from Q1 2017. The year-over-year (Q2 2016 to Q2 2017) gain for the PSR-TPI was, 111 to 114, or 2.7%.
In July 2019, 92,000 motorcycles were produced in Brazil, up
sharply from the 68,000 units produced in June 2019. January to July production
was 629,000, 6.3% above the 592,000 units produced in the same period of 2018.
SUMMARY: North American Gen-set sales continued with strong growth in the lower kW ranges in Q4 2017 with overall unit sales up 12.9% over Q3 2017. The gains were driven by ongoing demand caused by severe hurricanes, as well as optimism about the economy.
SUMMARY. Many factors are pointing to modest growth in Q3 2023. This should lead to total production globally growing at +2.4% in 2023 vs 2022 (it was 2.6% in Q2 2023), and the outlook for the next few years remains positive with growth accelerating from 2025. Apart from Russia and Ukraine, the main countries to show a decline are South Korea, Slovakia, Netherlands. However, the segment picture shows some differences.
Several drivers are influencing the global economic picture.
Fuel prices eased earlier this year, recently they have grown slightly and are no longer showing signs of easing. This remains a serious issue.
Supply chains remain constrained and show no signs of improving.
The war in Ukraine shows no sign of a speedy conclusion, despite recent successes by Ukraine.
Ukrainian exports of wheat, other grains and fertilizer have declined massively following Russia’s ending on the Grain Deal. Alternative routes (overland, and via the Danube) simply don’t have the necessary capacity.
Inflation is easing, but it continues to be a major concern for central banks as they consider raising their interest rates. This will pose a risk to economic growth in all regions. Inflation and price increases are putting OEMs in a difficult situation.
Risk of recession continues in the background for several countries, notably China, USA and Germany, and this could drag other countries into recession.
Covid is still lingering with global deaths now at over 6.9 million, and a new variant has the medical world concerned.
Latent demand for machinery keeps building, which is a positive sign.
SUMMARY. 2021 was a year of big hopes for economic recovery and pandemic management, and, overall, the economic rebound was strong. Looking at the state of the economy in general, and the key economic indicators such as GDP, interest rates, employment levels, etc., the North America market finished the year on a very high note. At the same time, development of new pandemic variants as well as ongoing issues with supply chains have led to manufacturing issues.
The second half of 2021 brought steady economic activities and strong economic recovery. Despite this strong performance, many existing and new challenges were seen. Problems from pandemic-related supply chain disruptions, logistics backlogs, and semiconductor shortages to new virus variations and labor market issues have contributed to slower growth in Q4 2021 than during the first half of last year.
Let’s break it down. The “Great Resignation” means companies must make themselves more attractive to new hires, and it provides those workers who remain more leverage to change corporate cultures from the inside.
With help of government support and targeted fiscal policies, the US economy showed a strong comeback in 2021. Furthermore, the growth trajectory is well positioned to continue to expand into the next few years, however, at much slower pace, than in 2021.
At the same time, there are many reasons for us to be optimistic about this trend. Our positive outlook is based on the reviews of key economic indicators, including GDP, unemployment, and inflation. In our previous forecasts, we discussed recovery trends for the post-pandemic period, and called for a return of demand for most markets in 2021. Last year, we witnessed a strong level of activities and an economic rebound for
MAN Energy Solutions, one of the leading marine engine manufacturers in the range between 730 and 2000 hp (5370 to 1397 kW), says that all of its engines now comply to the globally required major current emissions standards.
All engine models from i8-730 to V12-2000 are certified with the US EPA Tier III, the EU IMO Tier II and RCD 2013/53/EC. The current China Marine Recreational Stage I standard has been upgraded to the Stage II based on the US Tier III standard requirements.
Power Systems Research (PSR) projects the global outdoor power equipment market to grow from $34.01 billion in 2021 to $48.91 billion by 2028, a CAGR of 5.34% over the forecast period. The outdoor power equipment market includes consumer and commercial lawn mowers, chain saws, leaf blowers, and other motorized equipment used in the upkeep of lawn and gardens.
Global trends.North America is expected to dominate the market because of the growth of commercial and residential lawns and parks. The market in North America stood at $13.7 billion in 2021 and is expected to gain a huge portion of the global market share.
In Europe, continued automation in the lawn mower segment will increase demand for automated residential lawn mowers.
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