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PowerTALK™, September 2022

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South Korea is looking at its first trade deficit with China in 28 years, according to a report in the September issue of PowerTALK News, the monthly report of news and analysis from Power Systems Research. Also in this issue is a report from Guy Youngs on Alternative Power sources, as well as reports from two important industry shows: The Cannes Yachting Festival in France and the M&T Expo in Sao Paulo, Brazil.

IN THIS ISSUE
  • Alternative Power
    • Electric Battery Power Forecasts
    • Can EV Enthusiasm Trigger Global Growth?
    • Lithium Spot Prices Climb Nearly 900% Since January 2020
    • Cummins Jumps On New Energy Storage Iron Salt Formula
    • EV Shipping Set To Blow IC Engines Out of the Water
  • North America:
    • Navistar Introduces S13 Engine Platform
    • Outdoor Power Equipment Forecast To Grow 5.3%
  • DataPoint: NA Crawlers
  • Europe: Report from Cannes Yachting Festival 2022
  • Brazil/South America: Special Report: M&T Expo
  • China: Drought Forces Sichuan Power Cuts at Factories
  • Japan: Vinfast To Export Initial 5,000 EVs To Europe and the U.S.
  • Japan: Honda To Discontinue Two-Wheel Gasoline Vehicles
  • South Korea: South Korea Sees First Trade Deficit with China in 28 Years
  • India: Festive Demand Expected To Boost Auto Industry

2022-07-20

North America Economy Faces Multiple Problems

Jim Downey
Jim Downey

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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Generator Sales Continue Strong in Q4 2018

SUMMARY: Gen-set sales in North America continued to grow in Q4 2018, with dealers reporting an overall unit sales increase of 6.7% over Q3 2018, largely due to a continued strong demand level for standby units by private consumers.

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2019-09-03

Publications Welcome to the New Gilded Age

This forecast appeared in the September 2019 issue of Diesel Progress magazine.

SUMMARY. The underlying weak conditions in the global economic picture could put pressure on the North American power generation industry for the remainder of 2019 and through most of 2020. We forecast little or no growth for the industry through 2020.

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Welcome to the New Gilded Age of Gen-Sets

This forecast appeared in the September 2019 issue of Diesel Progress magazine.

SUMMARY. The underlying weak conditions in the global economic picture could put pressure on the North American power generation industry for the remainder of 2019 and through most of 2020. We forecast little or no growth for the industry through 2020.

Even though the power generation production market was up slightly (0.9% in 2018-2019), we see it declining about 1% over the next year. 

Tyler Wiegert
Tyler Wiegert

For those of you a few years removed from your high school U.S. History courses, the original Gilded Age was a period covering the 1870s-1890s that was marked by astonishing economic growth. Driven by the expansion of industrialization in the North and West, facilitated by growing railroad networks, real wages grew an enviable 60%.

But Mark Twain dubbed this period the “Gilded Age” rather than the “Golden Age,” because it was also marked by extreme poverty, and he represented it with gilded, decaying apple. The shiny outward appearance of growth was masking a rotten core of massive inequality.

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2020-02-03

Boot 2020 Wraps Up Successful Boat Show

Natasa Mulahalilovic is PSR MarineLink Product Manager

Emiliano Marzoli is Senior Business Development Manager – Europe

Dalibor Sablic is Senior Business Development Manager – Europe

SUMMARY: The general mood at Boot 2020 this year was very positive. Most builders said they had a very successful nautical 2018/2019 year, and most said they are looking forward to a good year in 2020. The show drew 240,000 visitors who had an opportunity to meet 1,900 exhibitors from 71 countries.

The Sailing boats segment is coming back on track, motorboats of all sizes are doing well, the super yachts segment remains strong, and inflatable boats and tenders have gained in popularity.  The optimistic view for 2020 is based on good year-end results, continuous investments in new technologies, materials, equipment, design and exciting new boat concepts.

Natasa Mulahalilovic
Natasa Mulahalilovic

Modern designs, completely new looks, use of light and solid material, work on multi-functionality and openness of the boats is visible everywhere and in all segments.  Boats are open more than ever, providing more space and light, and bringing riders closer to the water.

The environmental awareness is growing, and a new generation of boaters is looking for cleaner solutions, not just comfort. That’s why the sailing segment is gaining ground, electric boats are appealing to the general curiosity, and small and medium motorboats are more attractive than in last 10 years when the trend was towards bigger motor yachts and super yachts.

17 Halls of Boats, Boats and More Boats

Duesseldorf, Germany–The Power Systems Research (PSR) team spent several days exploring the 17 halls at this year’s Boot 2020 Show, reviewing products and talking with pleasure boat builders, traders and other industry professionals about the latest achievements, innovations and trends.

The 51st edition of Boot 2020, Europe’s largest boat show, wrapped up January 26, after drawing attendance of 240,000 for the nine-day event. People came mainly from Europe, but they came from all over the world, as well.  

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2021-04-25

Fastest NA Economic Growth Expected Since 1980s

Read the complete report in April PowerTALK™ News.

Yosyf Sheremeta
Yosyf Sheremeta

(April 1, 2021)–After the GDP declined 3.5% last year, the worst performance in almost 75 years, the US economy is set for a strong comeback.  In fact, we could see GDP growth exceeding 6% this year.

There are many reasons to be optimistic about 2021.  Strong readings of macro-economic factors combined with the economic cycle reset backed by the government initiatives and policies support our estimates for the current year and beyond. 

Our positive outlook is based on the reviews of the key economic indicators, including GDP, unemployment, and inflation.   In our previous forecasts, we discussed recovery trends for the post-pandemic period, stating a return of demand for most markets in 2021, especially during H2 2021.  

Based on our analysis of the expected growth trend and the economic reviews in major publications, we think US growth can surpass the growth level from 1984 – the highest one since 1950s. 

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2021-05-18

Russia Economic Outlook – April 2021

Maxim Sakov, Market Consultant-Russia for Power Systems Research, discusses his Q1 2021 economic outlook for Russia in this episode of PSR PowerTALK.

Maxim Sakov
Maxim Sakov

Market Consultant Russia

Transcript

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

00:06 Emiliano Marzoli:

From Power Systems Research, hello everyone. I’m Emiliano Marzoli, editor of PSR PowerTALK, and today I will discuss the economic outlook for Russia with Maxim Sakov, our marketing consultant in Moscow. Maxim provides our clients with economic and production forecasts for Russia each quarter. And thank you for joining us today, Maxim.

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2021-09-08

Edge Computing: Microgrids

In part 3 of “Living on the Edge” John Krzesicki examines microgrids with his guest Thomas Bourgeois, Deputy Director of the Pace Energy and Climate Center.

Transcript

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

00:06 John Krzesicki

Hello, my name is John Krzesicki. Today it’s my pleasure to host the Power Systems “Living on the Edge” series. The show we have conversation with industry experts on their insight into the future of intelligent technology.

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