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Personal watercraft (PWC), often known as a jet ski, is a watercraft that can carry as many as three people. A PWC Sit-Downs is defined as a vessel specifically designed to haul up to three riders in a sitting position, one in front of another. A PWC Stand-Up is a type of PWC designed for one rider standing or kneeling on the watercraft.
The PWC has wide uses, ranging from recreation and racing to many types of utility. PWCs are used to help with rescue missions as they are small, fast, and easy to operate. Local and county law organizations use PWCs to ensure the safety and security of persons engaged in watersports.
Market Size. According to Power Systems Research, the global market size for PWCs is expected to grow at a CAGR of 5.7% between 2022 and 2030. Global revenue for 2030 is forecasted to be $3.01 billion.
Readers of PowerTALK aren’t looking for autonomous vehicles to hit the roads soon, if our survey published last month is any indication.
In the April issue of PowerTALK, we asked readers, “When do you think a fully autonomous vehicle will be available in the market place?” Only 22.22% of respondents said it would happen within five years. More, 33.33%, said it would happen in the period of six to 10 years.
Other Top Stories in this issue of PowerTALK include
This report comes from General Director of GAZ Power Aggregate division Konstantin Rukhani. “After 18 months we shall complete the tests, after about 2.5 years, we’ll come to mass conveyor production,” he told Ruhani. He added that the design of the new hydrogen engine will be similar to its gas reciprocating engine.
“We consider that at the moment, if we come to the strategy of use gas piston engine working on hydrogen, we can get vehicle with a price of 30-34% higher than current ones. The engine will be less demanding for the purity of hydrogen fuel,” he added.
“China has the largest automobile production in the world, the most complete industrial foundation, supply chain foundation, talent foundation and market foundation,” said Li Bin, chairman of Weilai automobile.
These factors provide China with a significant advantage in developing intelligent EVs, he said “In fact, if we can have the advantages of these four aspects at the same time, China is the only one in the world,” he added.
The penetration rate of new energy has exceeded 10% in 2021. From the trend, this target will exceed 20% in 2025. China’s penetration rate of intelligent electric vehicles in 2030 will exceed 90% in new car sales. In recent years, with the accelerated popularization of intelligent electric vehicles, the automotive industry will once again become the commanding height of scientific and technological innovation.
PSR Analysis: Today, new bus procurement is fully electrified. Buses have fixed routes, and the operation range is relatively stable. At the end of 2020, all buses in key regions and major cities have been replaced with new energy. The trend of bus electrification will continue to be promoted nationwide and gradually electric buses will replace diesel vehicles.
Considering that the running distance and working environment are relatively controllable, the market promotion of oil and electricity price difference, and the gradual completion of bus electrification, taxis will also accelerate electrification.
The second step is to accelerate the electrification of trucks such as urban logistics, environmental sanitation and muck trucks. The State Council proposes to promote green and low-carbon means of transportation, port and airport services, urban logistics distribution and postal express to give priority to the use of new energy or clean energy and strengthen the charging and switching facilities of new energy vehicles.
The penetration rate of private car electrification will also continue to increase. According to the current situation, electric vehicles can replace unified fuel vehicles in terms of price and mileage around 2025. At the same time, with the promotion of electrification in the field of public transport and trucks, driving the continuous improvement of infrastructure, the electrification of private cars will proceed more smoothly. PSR
Jack Hao is Senior Research Manager – China, for Power Systems Research
Electric vehicles (EVs) witnessed strong growth in the Indian market in 2022, with a three-fold increase in sales as compared to the year before. Official data shows that Indians have bought 2,780,000 EVs since January 2023 at an average of more than 90,000 EVs per month. Significantly, the demand for EVs is not limited to metro cities such as Delhi, Mumbai, and Bengaluru, but is increasing in Tier-2 and Tier-3 markets as well.
PSR Analysis: While the growth of EVs has been primarily focused on urban areas of India, we are seeing a significantly improved adoption of EVs in rural parts of the country. The statistics from Vahan, the national vehicle registry, reveal that sales of electric cars and 3ws from the contribution of the top 10 districts in India has dropped significantly from 55%-60% in fiscal 2021 to 25%-30% in fiscal 2022. In the 2Ws segment, the percentage has dropped from 40%-45% to 15%-20%. The noticeable gaps here are being filled up by smaller towns and rural India.
Minsk has offered to Moscow to localize production of heavy mining BelAZ trucks in Russia. It was announced by deputy of Trade Minister Mr. Evtukhov.
“At the moment Belorussian colleagues have offered to produce BelAZ trucks in Russian Federation, to localize… I think, this project could be implemented – says Mr. Evtukhov on joint meeting of trade committees of two countries.
Note, that in Belarus since 9 August the protests have started. BelAZ workers also participated in meetings and strikes. Read The Article
PSR Analysis: BelAZ produces one of the world’s largest HHP mining trucks (up to 450 ton capacity), and Russia was one of its key markets until this year. However, now the import volumes to Russia have dropped significantly. Today, production of similar trucks in Russia is localized by Caterpillar. Similar projects also are developed by local OEMs (Tonar, KAMAZ). So, BelAZ is searching for ways to keep its market share. PSR
Maxim Sakov is Market Consultant, Russia, for Power Systems Research
TAIPEI–The acquisition of a 60.5% stake in ENGIE EPS by Taiwan Cement Corporation (TCC) was finalized and completed in July.
The deal, which was announced in April, saw the Italy-headquartered stationary storage and e-mobility solutions subsidiary of French multinational Engie taken over by TCC subsidiary Taiwan Cement Europe Holdings.
What both parties get out of the deal
In a press release, TCC said it has now become a “major player” in electric vehicle charging infrastructure as well as its newly acquired capabilities in building large-scale battery storage systems and microgrids.
The amendments to the FAME-II electric vehicle policy were rolled out in the last month and manufacturers have lauded the efforts in adopting EV mobility in the country.
The government partially modified the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II. Further, it has included an additional demand incentive for electric two-wheelers to ₹15,000 per KWh from an earlier uniform subsidy of ₹10,000 per KWh for all EVs, including plug-in hybrids and strong hybrids except buses.
This decision will increase subsidies for such vehicles by 50% under the FAME II scheme and be a game-changer in adopting EVs.
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
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.”
SUMMARY. The United States economy is facing several serious problems that don’t have simple solutions and are not likely to be solved for several years, reaching out to the presidential elections in 2024.
Take your pick of problems: Inflation. Stock Market. Climate Changes. Interest Rates. Housing Prices. Gasoline Prices. Food Prices. Social Unrest. Political Conflicts. Worker shortages. Supply Chain Shortages. Russia-Ukraine Conflict.
The bottom line here is that consumers, investors, businesses, and governments are uncertain about what the future holds for the next several years, and this uncertainty makes it difficult to build multiple-year action plans, whether it’s for purchases, manufacturing, marketing, or investing.
Uncertainty makes people nervous, and Uncertainty is the name of the game in the U.S. for the foreseeable future.
However, we’re still optimistic about the U.S. economy and we see 2022 production growing by 11.6% but that activity is likely to fall to 2.7% next year and drop again to 1.5% in 2024.
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