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www.kgpauto.com Briefing 2
Non-Road Mobile Machinery and Engine and Aftermarket Forecast Service
Briefing Paper # 2-
NRMM Market Update 2017/2018
Paris Kiernan, Analyst
After the effects of the Chinese stock market ment sales of 7% and 6% forecasted respec- See our website
crash in 2015 forecasts for 2017 are looking tively. Although the German market will be ex- for information on:
brighter with a 3.5% rise in global GDP predict- pected to see sales decline of 12% this year,
the market will fall to sustainable levels after a Regular Services
ed. This will have positive impacts on the
NRMM market with consumer and investor sen- record volume of 37,000 units sold in 2016 due CV Engine and
timent starting to improve. Already we have to the booming residential construction market. Aftertreatment
seen global construction equipment (CE) sales After a 6% drop in sales for the UK, the region Forecast
up more than expected while agricultural equip- is expected to hit a sales volume high post-
ment (AG) sales remain relatively flat in North crisis with an 8% rise this year. These four
America and Europe but up in developing mar- economies are the main drivers of the construc- Non-Road Engine and
kets. tion equipment market for Western Europe ac- Aftertreatment
counting for just under 75% of total sales. Forecast
NRMM Forecast North America*
China
Latin America 10%
15%
2017’s overall NRMM production is set to in- 1% New Services
crease year-on-year with substantial improve-
ments in the construction equipment market in EU & EFTA Non-Road Mobile
14%
Asia Pacific (including China, Japan, India) Machinery Driveline
Japan
and C&E Europe albeit at volumes significantly 14%
Non-Road Mobile
C & E Europe
below 2014’s level. While in EU & EFTA, the 1% Machinery
construction equipment market is to remain flat Electrification
for the near future whereas the agricultural India
6%
equipment market is expected to expand with
production volumes back to 2014’s pre-crisis Asia Pacific
levels by 2020. In North America, all segments (Other)
39%
are increasing in production volumes, but the
Figure 2 CE 2016 Production Split by Region
construction equipment market is closer to
2014’s level and the agricultural equipment In C&E Europe the construction market is gen-
market fared worse in terms of production vol- erated mainly from Russia, Turkey and Bela-
umes declining from low commodity prices. Lat- rus. Russia’s construction equipment market
in America’s NRMM markets are slowly recov- has continued to recover with the market up
ering from very low levels with production vol- 101% in August in comparison to the same peri-
umes not expected to hit pre-crisis levels until od in 2016. Full year production is set to rise
after 2023. 5% for all three countries in comparison to 2016
with further improvements of 5% in Russia and
Construction Equipment 10% in Turkey and Belarus in 2018.
Meet us!
KGP will be attending various industry events in Autumn/Winter 2017. Contact us to arrange a free
consultation on Single Client, Multi-Client and Special Reports at any of the following:
• 15th November LMC Commercial Vehicle Seminar 2017 – London Regular Services
We can also prepare a client specific webinar to introduce our services and provide an industry CV Engine and
overview. Aftertreatment
Forecast
Briefings
KGP’s free briefings are published twice per month covering Commercial Vehicle and Non-Road
Non-Road Engine and
Mobile Machinery topics. Forthcoming briefings will include:
Aftertreatment
• Hybrid and Electric Commercial Vehicle Trends Forecast
Contacts
Alex Woodrow Managing Director
alexwoodrow@kgpauto.com
James Dorling Senior Analyst
jamesdorling@kgpauto.com
Paris Kiernan Analyst
pariskiernan@kgpauto.com
Mick Beeson Sales Manager
mickbeeson@kgpauto.com
Knibb, Gormezano and Partners
Disclaimer
Information contained in this document has been obtained by Knibb, Gormezano & Partners from
industry sources believed to be reliable. However, because of the possibility of human or mechani-
cal error by our sources, Knibb Gormezano does not guarantee the accuracy, adequacy, or com-
pleteness of any information and is not responsible for any errors or omissions or for the results
obtained from the use of such information.
Copyright Knibb, Gormezano and Partners 2017