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2022-03-20

Piaggio Developing Electric Scooter For Indian Market

INDIA REPORT 
Aditya Kondejkar

Piaggio, which sells electric scooters in Europe, is developing products specifically for India but it will take 18-24 months to enter the market. It will focus on scooters and not launch electric motorcycles.

The large automaker has 2024 in its sights as a realistic go-to-market timeline for the new scooter.

“We are interested in providing customers with a solution in the two-wheeler space that (makes sense) even beyond the effect of subsidies. It is a matter of fact that the players that have entered recently in this space are gaining volumes on the base of subsidies,” says Diego Graffi, MD & CEO Piaggio India

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2023-06-19

Global Electric Scooter Market Could Reach $56B in 2033

GLOBAL REPORT
Michael Aistrup
Michael Aistrup

The global electric scooter market is growing at a rate that will enable it to surpass $56 billion by the end of 2033, according to a forecast by. Power Systems Research. The forecast predicts a projected growth rate of 9.72% by 2033.

This high growth rate is attributed to the rising demand for electric vehicles because of the increasing worldwide population.

An Electric Vehicle (EV) is a vehicle that runs on electricity/battery power. Electric vehicles have low running costs due to fewer moving parts and are environmentally friendly as they use little or no fossil fuels. Some EVs use lead-acid or nickel-metal hydride batteries, but lithium-ion batteries are now used in battery-powered electric vehicles for their long life, excellent energy storage, and low self-discharge rate.

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2022-02-20

Doosan Bobcat Aims at NA Market with Fully Electric T7X

SOUTH KOREA REPORT

Doosan Bobcat unveiled the world’s first fully electric construction equipment to the global market through CES 2022, the world’s largest technology exhibition.  

Doosan Bobcat held a media day event at the Mandalay Bay Convention Center in Las Vegas to introduce the T7X, which won two CES 2022 Innovation Awards.  

The T7X is the world’s first fully electric construction equipment that eliminates all hydraulic components. It is comparable in performance to existing internal combustion engine equipment and emits no harmful substances. Noise has been greatly reduced to one-tenth the level, and energy efficiency has been maximized. 

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2022-06-25

E-Motorcycles Market Update

NORTH AMERICAN REPORT
Michael Aistrup
Michael Aistrup

The global e-motorcycle market has experienced high growth in the last couple of years, fueled in part by the declining price of Lithium-ion batteries. The battery is one of the most expensive components of an e-motorcycle, and changes in the price of Li-ion batteries affect the entire cost of an e-motorcycle. The cost of Li-ion batteries has been steadily declining, and this trend is likely to continue.

Power Systems Research has forecasted the global CAGR for electric motorcycles, at 11% for the years 2022 – 2027.

Drivers-of-Demand for this forecasted growth are:

  • Increased environmental concerns.
  • Higher fuel efficiency of e-motorcycles compared to conventional motorcycles.
  • Increased demand for sustainable transportation.
  • New incentive programs for e-motorcycles driven by government units.
  • Advancements in technology such as high-speed handling, smaller/compact size, quicker acceleration, and reduced motor weight.
  • Introduction of fast-charging stations.
  • COVID-19 virus played a vital role in increasing the demands for the e-motorcycle. Pandemic halted the manufacturing of vehicle components and OEM parts for conventional motorcycles and available e-motorcycles in the market became the first choice among the consumers.
  • Expanding dealer and distributor network promoting the e-vehicle and its advantages.
  • Consistent research and technological advancements in the automobile industry to provide advanced technologies to e-motorcycles

Two factors hampering the growth of the market are the comparatively higher initial cost for e-motorcycles and the lack of a developed charging infrastructure. PSR

Michael Aistrup is Senior Analyst specializing in Recreational Products at Power Systems Research

2024-04-17

Global Lawn and Garden Equipment Market

GLOBAL REPORT
Michael Aistrup

The global lawn and Garden Equipment Market, which includes commercial and residential equipment, is projected by Power Systems Research to reach sales of $46.16 billion by 2030. This is a projected increase of $15.96 billion dollars from 2023 to 2030, an increase of 52.8%.

The global impact of COVID-19 is stating to wane and the market is returning to a normal growth rate. Individual homeowners are still interested in lawn and garden care, just not as much as during COVID-19. More people are returning to recreational activities.

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2019-08-26

MotorIndia Magazine: India CV Market Facing Lower Demand in 2019


Indian-CV-Industry-Motorindia-August 2019Download

The India CV market is facing lower demand in 2019, reports MotorIndia magazine in its August 2019 Market Outlook issue.

CV Link is a comprehensive database updated quarterly that covers the CV market.

After a blockbuster growth in 2017 and 2018, writes Shah, growth that was largely driven by demand for tipper trucks due to the new infrastructure, mining projects and fleet replacement; the party ended in Q4 of 2018.

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2021-10-03

Second Wave of COVID-19 Hits India Commercial Vehicle Market

Motorindia-May_2021Download
Aditya Kondejkar

The second wave of COVID-19 has put the brakes on a rebound in India’s commercial vehicle market, reports Aditya Kondejkar, Power Systems Research Analyst for South Asia Operations, in the May 2021 issue of Motorindia magazine.

Kondejkar notes that the second wave of the pandemic has caused shortages of semiconductors and steel as well as weaker consumer demand. These forces have pushed commercial vehicle production down nearly 60% month-on-month (MoM) in April.

Kondejkar points out that the India CV market witnessed a strong performance in 2018 with more than 1.13 million
units produced, owing in large part to GST implementation and replacement demand. In 2019, however, the Indian CV market began shrinking as it faced headwinds from revised axle load norms, vehicle over-capacity, BS-VI transition, and a liquidity crunch.

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2023-03-26

Electric Boat Market Forecast To Grow by 12%

Michael Aistrup
Michael Aistrup

Gas-powered engines have been the backbone of boating since the advent of the internal combustion engine, but electric-powered boats could soon be claiming a significant share of the market.

Most of the fuel used in transportation is petroleum-based, but initiatives by many governments to reduce carbon emissions and to encourage consumers to adopt eco-friendly boats and ships is expected to boost growth of the electric boat market. The electric boat industry is still in early stages of development and there is a potential for growth.

Electric boats are defined as marine vessels with electric drive as propulsion. Electric boats can be only electric, hydrogen fuel cell electric, or hybrid electric.

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2017-06-01

CONEXPO Publications Booming North American Rental Market Offers Opportunity


COMPOUNDINGS Magazine, June 2017 Market ReportDownload

This article appeared in the June 2017 issue of Compoundings Magazine, published by ILMA (Independent Lubricant Manufacturers Association)

If you didn’t hike through the nearly 3 million square feet of exhibit space at CONEXPO-CON/AGG in Las Vegas in March, you missed an opportunity to explore several new markets for lubricants.

And even if you were in Las Vegas, you might have missed two of the most promising growth opportunities for lubricants. One is the booming North American commercial equipment rental market. The second involves the changing outlook for emissions regulations, which will affect the demands for engine lubricants on commercial vehicles and off-highway equipment.

CONEXPO-CON/AGG is a huge international event held every three years for the construction industries, with a focus on construction, aggregates and ready-mix concrete. This year, nearly 128,000 attendees to the five-day show visited more than 2,800 exhibits.