Search Results for: european-agriculture-production-expected-remain-flat-year

South America TPI Expected To Climb 22% in 2024

St. Paul, Minnesota, USA— The Power Systems Research Truck Production Index (PSR-TPI) increased from 107 to 116, or 8.4% for the 12 months ended Dec. 31, 2023. For the fourth quarter of 2023, ending Dec. 31, 2023, the index increased from 112 to 116, or 3.6%, compared to Q3 2023.

South America. Medium and heavy commercial vehicle production is expected to increase by 22.1% this year after a significant decline in 2023 primarily driven by a weaker economy and the implementation of the Proconve 8 emission regulations in Brazil last year.

The PSR-TPI is a quarterly truck production report that measures global truck production in 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.

The next update of the Power Systems Research TPI will be in April 2024 and will reflect changes in the TPI during Q1 2024.  PSR

Jim Downey is vice president – global data products at Power Systems Research and Chris Fisher is the senior commercial vehicle analyst at Power Systems Research 

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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2022-09-28

Festive Demand Expected To Boost Auto Industry

INDIA REPORT 
Aditya Kondejkar

Adequate rainfall across the country along with the start of the long festive season will keep the demand for automobiles positive and help keep the momentum going in this segment. Additionally, normal monsoons in most parts of the country resulting in a decent agricultural harvest kept demand positive. So, automakers are focusing on building up inventory in anticipation of higher demand

The Indian economy is poised to shrug off the modest tapering of growth in Q1 2022, and aggregate demand is firm and set to expand as the festival season sets in. Hatchback cars and affordable, non-electric motorcycles and scooters are set to register bumper sales in the coming months as India gets ready to celebrate its first ‘normal’ festive season after a gap of two years. Above-normal rains, positive consumer sentiment and a generally optimistic mood are also expected to boost sales of these entry-level vehicles.

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2021-08-21

Most Regions Will Post 20%+ Growth in Truck Production

Chris Fisher
Chris Fisher

Editor’s Note: This is an updated report from the Q2 2021 Truck Production Index report produced by Chris Fisher and Jim Downey, Vice President-Global Data Products, in July 2021.

Question: What is the global truck production picture? What is the outlook?

PSR Opinion: Overall, medium and heavy truck demand will finish the year on a strong note, and continued strength is expected into 2022.  On-going supply chain disruptions will continue to impact production throughout the rest of the year and likely into 2022.

Question: What kind of global production volume do you expect for this year?

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2021-08-10

Q2 2021 Truck Production Report

Chris Fisher
Chris Fisher

Senior Commercial Vehicle Analyst

Chris Fisher, Senior Commercial Vehicle Analyst at Power Systems Research, discusses the Q2 2021 global production facts and related forecasts for medium and heavy trucks, as reported in the quarterly PSR Truck Production Index.

Transcript

Welcome to the PSR PowerTALK podcast produced by Power Systems Research.

00:06 Joe Delmont

From Power Systems Research, I’m Joe Delmont, editor of PSR PowerTALK.

Today we’ll discuss global truck production with Chris Fisher. Chris is Senior Commercial Vehicle Analyst at Power Systems Research.

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Q2 2022 PSR Truck Production Index (PSR-TPI) gains 11.5%

PSR-TPI-Q2-2022-FINALDownload

St. Paul, MN (July 13, 2022)— The Power Systems Research Truck Production Index (PSR-TPI) increased from 104 to 116, or11.5%, for the three-month period ended June 30, 2022, from Q1 2022. The year-over-year (Q2 2021 to the Q2 2022) loss for the PSR-TPI was, 130 to 116, or -10.8%.

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.

Global Index. Global medium and heavy vehicle production is expected to decline by 10% this year primarily due to a drop in demand in China and Eastern Europe. However, a slowing global economy will also place pressure on demand moving forward.

All Regions. Medium and heavy commercial vehicle production will be mixed this year due to a variety of issues. In China, truck and bus overcapacity will hinder demand while the Russian-Ukraine war will significantly impact demand and production in Eastern Europe. Global supply chains will remain a problem through at least the end of this year for all regions. There is critical concern about major slowdowns in the North American and European economies as a direct result of higher fuel prices and inflation which does not appear to be going away anytime soon.

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2020-02-04

Near Term Recession Fears Recede in North America

SUMMARY.  The North American economy remained stable in 2019 and pure economic conditions as well as fundamentals in the region were favorable. Most industries performed very well, and the short-term outlook remains stable to flat for most market segments. However, we see many new developments that could suggest a shift in the trend.

Yosyf Sheremeta
Yosyf Sheremeta

Consumer confidence declined slightly in December, following a moderate increase in November.  The Conference Board’s Consumer Confidence Index stood at 126.5 in December, 1.4 points higher than in September 2019. 

Per Lynn Franco, Senior Director of Economic Indicators at The Conference Board: “While consumers’ assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financial prospects. While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020.”

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2021-05-11

Q1 2021 Truck Production Report

Chris Fisher
Chris Fisher

Senior Commercial Vehicle Analyst

In this episode of PSR PowerTALK, Chris Fisher, senior commercial vehicle analyst at Power Systems Research, talks about the reasons for the 42.5% first quarter 2021 drop in global truck production.

Transcript

Welcome to the PSR PowerTALK podcast, produced by Power Systems Research.

00:06 Joe Delmont:

From Power systems Research I’m Joe Delmont, editor of PSR PowerTALK. Today we’ll discuss global truck production with Chris Fisher, PSR, senior commercial vehicle analyst.

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Q2 2021 Power Systems Research Truck Production Index (PSR-TPI) climbs 193.5%

St. Paul, MN (July 12, 2021)— The Power Systems Research Truck Production Index (PSR-TPI) increased 193.5% year-over-year (Q2 2020 to the Q2 2021), moving from 46 to 135. For the three-month period ended June 30, 2021, (Q1 2021 to Q2 2021) the TPI climbed 15.4%, increasing from 117 to 135.

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.

Global Index. Overall, medium and heavy truck demand will finish the year on a strong note and continued strength is expected into 2022.  On-going supply chain disruptions will continue to impact production throughout the rest of the year and possibly into 2022.

All Regions. Except for China, all regions are expected to experience solid commercial vehicle demand growth this year and into 2022.  Chinese heavy truck demand is expected to decline this year primarily due to the implementation of the China VI emission regulations that adds cost to the vehicles but no significant improvement in fuel economy.

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