Agrishow 2024 Reports US$ 2.6 Billion in Business

News: Industry Segments

2024-05-25

Agrishow 2024 Reports US$ 2.6 Billion in Business

Fabio Ferraresi
Fabio Ferraresi

Agrishow 2024 posted R$ 13.6 billion (US$ 2.6 Billion) in business, 2.4% higher than that recorded in 2023.

With 520,000 square meters and 800 booths, the almost three-decade-old event in Ribeirão Preto (SP) received 195,000 people for five days, from small, medium and large Brazilian producers to representatives of international companies. Four representatives of our PSR senior team in South America attended the Show to gather information and data.

Considered one of the largest open-air fairs in the world focused on agribusiness, Agrishow is not only a thermometer of the country’s economic activity but also a showcase of the latest in field technology, from agriculture to livestock.

In addition to large harvesters, planters, and state-of-the-art tractors–including electrically powered models—exhibitors displayed innovations in robots and drones, with more and more applications in farming and features such as greater load capacity and remote control.

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Heavy Rains Batter Brazilian OEM Operations

BRAZIL/SOUTH AMERICA REPORT 

Recent heavy rainfall in Rio Grande do Sul has led to production disruptions in many automotive OEM operations located in the region, including GM, AGCO, Marcopolo, John Deere, Randon, and auto parts manufacturers like Fras-le. Despite this, automakers and auto parts companies are gaining control over production operations. However, logistical challenges persist, raising concerns.

Both Anfavea, representing automakers, and Sindipeças, representing the components sector, express worry about the production flow from these companies in Rio Grande do Sul, which serve domestic and international demands, presenting an unpredictable aspect currently.

The initial expectation for vehicle production was to remain steady despite the rains, as Gravataí and the Serra Gaúcha region, where most automakers operate, remain largely unaffected. However, parts production in Porto Alegre faced important disruptions due to many manufacturers being located in flood-affected areas in the region and the transportation from production areas to OEMs was severely affected. Some OEMs—such as GM, Stellantis and Volkswagen–already announced temporary plant shutdowns.

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Komatsu Develops Hydrogen Generator

JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

Komatsu has announced the development of a hydrogen-powered generator that will be used to power an electric mini excavator. It can be transported to the job site, allowing electric construction equipment to be used in places where there is no electric power infrastructure. The system will be tested at customer sites by September 2024.

The generator was developed in cooperation with DENYO. The generator is 3.1 meters long, 1.1 meters wide and 1.7 meters high. It generates electricity by mixing up to 40% hydrogen with light oil. HVO fuel (hydrogenated vegetable oil), a type of biofuel made from waste cooking oil, can also be used.

Komatsu has developed hydrogen-blended combustion power generators for use in on-site power generation at factories and other facilities. The company sells seven types of electric construction equipment but is unable to supply power to sites where there are no power distribution networks, so it has been working to commercialize an electric power supply infrastructure.

Source: The Nikkei

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Kia To Double Hybrid Sales Amid EV Headwinds

SOUTH KOREA REPORT

Korea’s Hyundai Motor Group is going on the offensive with hybrid vehicles. Its subsidiary Kia plans to introduce HV models in nine of its main models, doubling its current sales volume to 800,000 units by 2028. Kia will temporarily review its investment focus on EVs, where competition is heating up globally, to flexibly respond to market trends.

In early April, Kia’s CEO showed signs of impatience at a business strategy meeting in Seoul, admitting that the EV market is slowing down and pushing back the goal of surpassing sales of 1 million EV units by 2026 to 2027.

At the same time, he announced the expansion of HVs: by 2028, he will introduce HVs in nine major models worldwide, increasing HV sales from 372,000 units (12% of the total) in 2024 to 800,000 units (19%).

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Malaysia Overtakes Thailand in New Vehicle Sales

THAILAND REPORT

Rankings of new vehicle sales in Southeast Asia are shifting, with Malaysia overtaking Thailand to take second place in 2023. The Philippines overtook Vietnam to take fourth place. EV sales continue to grow across the region, particularly in Thailand.

New vehicle sales in six major Southeast Asian countries, including Indonesia and Thailand, totaled 3.34 million units in 2023, down 2% from the previous year. This was the first decline in three years. Rising interest rates weighed on the market. In Southeast Asia, customers with low equity often buy cars with car loans, which was affected by higher lending rates and stricter underwriting.

Despite the headwinds, sales increased in Malaysia and the Philippines. Sales in Malaysia rose 11% to 790,000 units, a record high, and the country became the second largest market in the region for the first time. The introduction of sales tax exemptions for domestically produced vehicles as part of an economic stimulus package provided a boost.

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Bosch China Establishes Commercial Vehicle Group

CHINA REPORT
Jack Hao
Jack Hao

Bosch Powertrain announced the establishment of a commercial vehicle group, aiming to strengthen cross-domain cooperation at the same time it introduced a new electronic pneumatic braking system and intelligent mobility solutions for commercial vehicles at the 2024 Beijing International Automotive Exhibition.

Bosch also has developed an advanced super thermal management system to address the thermal management challenges in the commercial vehicle industry. Bosch says it is optimistic about the development prospects of hydrogen fuel cell commercial vehicles and is actively promoting the adaptive development and promotion of related technologies.

During the Beijing Auto Show, Wang Weiliang, the President of the Board of Bosch Intelligent Transportation Solutions China and the President of Bosch Powertrain Systems China, announced Bosch’s significant strategic initiatives for this year. Wang Weiliang said that China, as the world’s largest commercial vehicle market, is in a golden era of booming development for the commercial vehicle industry.

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Kubota Plans India as Global Production Hub

INDIA REPORT
Aditya Kondejkar

In a strategic move reminiscent of Suzuki Motor’s successful expansion strategy, Japanese agricultural equipment giant Kubota is carving out a path to global dominance by establishing India as its production nucleus. The recent acquisition of Escorts, a leading tractor manufacturer in India, marked a pivotal moment for Kubota, propelling it into a position of strength in the Indian and international markets.

Kubota’s journey in India began in 2008, albeit with sluggish growth and single-digit market share due to its specialization in lightweight tractors, which initially lacked the requisite power for Indian applications. However, with the acquisition of Escorts in 2022 and subsequent rebranding as Escorts Kubota, the company gained a significant foothold, complementing its expertise with Escorts’ established presence in the Indian market.

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2024-05-24

Alternative Power Report, May 2024

Alternative Power Report – May 2024Download

The May 2024 Alternative Power Report from Power Systems Research features several stories on Chinese EVs and the impact they are having on European and US markets. There also are stories on hydrogen development and hydrogen fueling stations. PSR

2024 NA Skid Steer Production        

96,000 units is the estimate by Power Systems Research of the number of Skid Steer Loaders expected to be produced in North America (US and Canada) in 2024.

A Skid Steer Loader also known as a Skid Loader, Skid-Steer Loader, or Skidsteer, is a small rigid frame, engine-powered machine with lift arms used to attach a wide variety of labor-saving tools or attachments.

Four major uses for Skid Steer Loaders are: Agricultural, 29%; Rental Fleets, 22%; Construction, 20%, and Landscape, 12%.

This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers. PSR

Carol Turner is Senior Analyst, Global Operations, at Power Systems Research

2024-04-17

Study Shows Plug-in Hybrids Aren’t as Clean as We Thought

A new report by the European Commission shows that plug-in hybrid electric vehicles create much more emissions than we previously thought – by an average of 3.5 times as much as lab testing indicates.

Plug-in hybrids (PHEVs) were thought to bring the best of both worlds – a large enough battery to take care of your daily tasks, paired with a gas engine for longer trips. There are downsides in cost and complexity, but the powertrain choice does provide more options than others.

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