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2021-05-24

Powersports Recreational Equipment Update

EDITOR’S NOTE. Power Systems Research tracks the global trends powersports recreational equipment, especially the electrification of these units. This is one of a series of reports on these trends.

Michael Aistrup
Michael Aistrup

HARLEY-DAVIDSON LAUNCHES LIVEWIRE. Harley-Davidson has announced the launch of LiveWire as an all-electric motorcycle brand.  With LiveWire, H-D hopes to redefine electric, delivering a better experience for the urban rider.

The first LiveWire branded motorcycle is scheduled to launch on July 8, 2021, and to premiere at the International Motorcycle Show in Irvine, Calif., on July 9, 2021.

Harley-Davidson’s LiveWire strategy includes these key take-aways:

  • Unique lineage: LiveWire draws on its DNA from the lineage of Harley-Davidson, capitalizing on a decade of experience in the EV sector.
  • Motorcycles + beyond:  with an initial focus on the urban market.  
  • Virtual HQ: LiveWire will be headquartered virtually, with initial hubs in Silicon Valley, CA (LiveWire Labs) and Milwaukee, WI.
  • Marketplace: LiveWire will work with participating dealers from the Harley-Davidson network as an independent brand. A go-to-market model will blend digital and physical retail formats.
  • Dedicated showroom: LiveWire will operate dedicated EV showrooms in select locations, starting in California.
  • Technology focus: LiveWire plans to develop the technology of the future and to invest in the capabilities needed to lead the transformation of motorcycling. LiveWire expects to benefit from Harley-Davidson’s engineering expertise, manufacturing footprint, supply chain infrastructure, and global logistics capabilities.  
  • Technology sharing: Harley-Davidson and LiveWire intend to cooperate and share their technological advancements to ensure an industry leading application in their respective core segments.

POLARIS FIRST QUARTER 2021 EARNINGS RESULTS. Polaris released first quarter 2021 results with reported sales of $1,951 million, up 39% from reported sales of $1,405 million for the first quarter of 2020. The company reported first quarter 2021 net income of $134 million compared with a net loss of $5 million for the 2020 first quarter.

Gross profit increased 64% to $481 million for the first quarter of 2021 from $293 million in the first quarter of 2020. Reported gross profit margin was 24.6% of sales for the first quarter of 2021.

Polaris Product Segment Highlights:

  • Off-Road Vehicles (“ORV”) and Snowmobiles totaled $1,232 million for the first quarter of 2021, up 50% compared to $824 million for the first quarter of 2020. PG&A sales for ORV and Snowmobiles combined increased 51% in the first quarter of 2021 compared to the first quarter last year.
  • Motorcycles totaled $166 million, up 31% compared to the first quarter of 2020, driven primarily from increased sales of Slingshot, Indian Motorcycles. 
  • Global Adjacent Markets segment sales, including PG&A, increased 27% to $125 million in the 2021 first quarter compared to $98 million in the 2020 first quarter driven by increases in demand in North America and EMEA.
  • Aftermarket segment sales of $230 million in the 2021 first quarter increased 14% compared to $202 million in the 2020 first quarter. Transamerican Auto Parts (TAP) sales of $193 million in the first quarter of 2021 increased nine percent compared to $177 million in the first quarter of 2020.
  • Boat segment sales increased 29% to $199 million in the 2021 first quarter compared to $155 million in the 2020 first quarter, driven by sales growth in all three brands, Bennington, Godfrey and Hurricane.

POWERSPORTS MARKET ANALYSIS. The powersports market observed a slowdown during the first two quarters of 2020 driven by the spread of the COVID-19. Shortages of labor and materials in the first quarter led to many industry challenges. Governments began lifting the lockdown restrictions to stabilize the economic activities in the third quarter of 2020. During this period, the powersports industry witnessed steady growth owing to the rising inclination of individuals toward participating in outdoor recreational activities while complying with social distancing norms. 

Powersports market size exceeded $34 billion in 2020 and is expected to grow at around 6% CAGR between 2021 and 2027. The global power sports unit sales are anticipated to reach over 3 million units by 2027.     PSR

Michael Aistrup is Senior Analyst covering Recreational Products for Power Systems Research

2021-07-27

Sany Challenges Komatsu’s Grip on Indonesian Construction Machinery Market

Akihiro Komuro
Akihiro Komuro

The battle between major Japanese and Chinese construction machinery companies is intensifying in Indonesia. As the growth of the Chinese market slows, China’s Sanichi Heavy Industries is accelerating its overseas expansion in search of new sources of revenue.

Komatsu, which has a stronghold in Southeast Asia, is responding by introducing mid-priced machines and expanding its maintenance bases. Who will dominate the growing market following China will also affect the power structure of the construction equipment market in Asia.

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2022-05-23

Agrishow 2022 Sells US$ 5 Billion in Ag Equipment

Following two years with the show canceled because of COVID-19, the 2022 edition of the biggest agricultural segment trade show reached US$ 5.5 Billion (R$ 11.2 Billion) in equipment sales, including Agricultural Machines, irrigation equipment and storage equipment. A total of 193,000 people visited the show, including our team of PSR representatives in South America. This year’s sales are 287% over the R$ 3.9 Billion sales posted in 2019.

Source: Info Money    Read The ArticlePSR Analysis: The result indicates the continuous growth of the Agricultural Equipment Market and the overall Agricultural Business in Brazil. A record harvest is expected in 2022 with 6.4% increase forecasted over 2021. The forecast for next 10 years is more crops with higher productivity–that means more technology with new machines.  PSR

Fabio Ferraresi is Director-Business Development, South America, for Power Systems Research

2023-04-16

2030 PWC Market May Hit $3.01 Billion

Michael Aistrup
Michael Aistrup

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.

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2021-01-25

Weichai Takes 60% Stake in Agricultural Equipment Maker

Qin Fen
Qin Fen

Weichai Holding Group Co., Ltd., a leading Chinese powertrain manufacturer, has acquired a controlling stake in Lovol, one of the country’s major agricultural equipment makers.

Source: Xinhua News Agency    Read The Article

PSR Analysis: People look up to leading companies in industry because often times they are not just leading the trend, they are also setting an example of weathering the storm during crisis.

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2023-11-16

Kubota and Sumitomo Plan Mutual Supply of Equipment

JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Kubota Corporation and Sumitomo Construction Machinery Co., Ltd. said they have begun discussions regarding the mutual supply of construction equipment.

Internationally, the growing demand for housing and the expected increase in construction work related to infrastructure investment and urban development, plus the increasing shortage of construction labor, are expected to create strong demand for construction equipment to improve efficiency and reduce labor requirements.

Kubota develops, manufactures, and sells small construction equipment used in urban construction, while Sumitomo Construction Machinery specializes in medium and large construction equipment used in a wide range of civil engineering and forestry work.

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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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2020-09-30

OEM Off-Highway Magazine: Heavy Equipment Markets See Improvement in 2021

OEM-Off-Highway-MagazineDownload

Off-road equipment markets are expected to see a slight recovery from the devastating effects of COVID-19 in 2021, according to a report prepared by Power Systems Research that appeared in the October 2020 issue of OEM Off-Highway magazine.

One segment, the construction equipment market in North America has been riding a strong economy over the past few years. The segment was due for a slowdown; however, current worldwide economic conditions have caused a rapid cycle to reset in the construction industry. Government is committed to support the demand in the sector by investing heavily into infrastructure. We have yet to see any new level of demand, but we expect to see signs of the new normal in H2 2020 and early 2021. PSR

2019-11-14

2019 GIE+Expo Posts Strong Growth. Battery Technology Continues Hot

GIE+EXPO: The Green Industry & Equipment Expo

GIE+EXPO is the annual gathering for all segments of the outdoor power equipment and lawn and landscape industry. The event is sponsored by the Outdoor Power Equipment Institute, the Professional Grounds Management Society and the National Association of Landscape Professionals.

This year, the show drew more than 26,500 people from around the world. The indoor exhibit floor and the Outdoor Demonstration Area covered 24,000 net sq. ft. more than last year.

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2021-03-20

KAMAZ JV Will Invest in Mass Production of Equipment

The joint venture of KAMAZ and ZF Friedrichshafen AG is going to establish mass production of 12-speed automated gearboxes Traxon for trucks, buses and special machines with 44-80 ton capacity. At the moment, the JV is offering mechanical transmissions only. According to the plan, the production of gearboxes will be localized on 24%, power steering, by 10%, suspensions, by 40%. New products will be supplied to KAMAZ trucks, as well as to other OEMs – MAZ-MAN, Ural, Isuzu, etc.

The total budget of the new project will be US$ 15 million (1.1 billion Rubles). About half of it will be provided by the Industry Development fund as a privileged loan.

The privileged loan will be provided by the fund on 1-3% interest rates for up to seven years.

Read The Article

PSR Analysis: There is a long history of co-operation between KAMAZ and German ZF. Now, with the State support, they are going to offer to the market brand new equipment, which was not available on domestic trucks before.  PSR

Maxim Sakov is a Market Consultant – Russia Operations with Power Systems Research