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Page 1: Global Non-Road Powertrain Forecast Annual Report 2020

PowertrainGlobal Non-Road Powertrain ForecastAnnual Report 2020

Page 2: Global Non-Road Powertrain Forecast Annual Report 2020

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Table of Contents56    AGCO Group Profile57 AGCO Engine Range58    Caterpillar Group Profile59    Caterpillar Group Profile60 Caterpillar Engine Range61    CNH Industrial Profile62    CNH Industrial Profile63 CNH Industrial Engine Range64    Doosan Group Profile65    Doosan Group Profile66 Doosan Group Engine Range67    Hyundai Heavy Industries Profile68    Hyundai Heavy Industries Profile69    Hitachi Group Profile70    Hitachi Group Profile71    JCB Profile72    JCB Profile73 JCB Engine Range74    John Deere Profile75    John Deere Profile76 John Deere Engine Range77    Komatsu Profile78    Komatsu Profile79 Komatsu Engine Range80    Kubota Profile81    Kubota Profile

82 Kubota Engine Range83    Liebherr Group Profile84    Liebherr Group Profile85 Liebherr Engine Range86    Volvo Group Profile87    Volvo Group Profile88 Volvo Engine Range

Page 3: Global Non-Road Powertrain Forecast Annual Report 2020

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Table of Figures18 Figure 1. Quarterly Impact of COVID-1919 Figure 2. North American Monthly Tractors Sales - 12 Month Rolling Average. 20 Figure 3. Construction Equipment Production in North America21 Figure 4. NRMM Production by Region22 Figure 5. NRMM Production by Segment23 Figure 6. Agricultural Machinery Indicators23 Figure 7. Construction Equipment Indicators24 Figure 8. EU & EFTA Segment Outlook25 Figure 9. China Segment Outlook26 Figure 10. India Segment Outlook27 Figure 11. Japan Segment Outlook28 Figure 12. Latin America Segment Outlook29 Figure 13. North America Segment Outlook30 Figure 14. Agricultural Equipment Production by Region31 Figure 15. Agricultural Engine Production <56kW32 Figure 16. Agricultural Engine Production >56kW33 Figure 17. Construction Equipment Production by Region34 Figure 18. Construction Engine Production <56kW35 Figure 19. Construction Engine Production >56kW36 Figure 20. Materials Handling Production by Region37 Figure 21. Materials Handling Engine Production <56kW38 Figure 22. Materials Handling Engine Production >56kW39 Figure 23. Non Road Production by Compliance40 Figure 24. Regional Legislation Timings41 Figure 25. Regional Legislation Timings47    Figure 26. Timing for Key Efficiency Improving Technologies

Page 4: Global Non-Road Powertrain Forecast Annual Report 2020

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Table of Figures49 Figure 27. Key Environmental and Social Drivers52 Figure 28. NRMM Engine Forecast by Powertrain Type53 Figure 29. Electric and Hybrid Production by Technology Type54 Figure 30. AGCO NRMM Production by Segment and Region55 Figure 31. AGCO NRMM Production by Compliance and Financial Highlights56 Figure 32. AGCO Engine Range57 Figure 33. Caterpillar NRMM Production by Segment and Region58 Figure 34. Caterpillar NRMM Production by Compliance and Financial Highlights59 Figure 35. Caterpillar and Perkins Engine Range60 Figure 36. CNH NRMM Production by Segment and Region61 Figure 37. CNH NRMM Production by Compliance and Financial Highlights62 Figure 38. Fiat Powertrain Technologies Engine Range63 Figure 39. Doosan NRMM Production by Segment and Region64 Figure 40. Doosan NRMM Production by Compliance and Financial Highlights65 Figure 41. Doosan Engine Range66 Figure 42. Hyundai NRMM Production by Segment and Region67 Figure 43. Hyundai NRMM Production by Compliance and Financial Highlights68 Figure 44. Hitachi NRMM Production by Segment and Region69 Figure 45. Hitachi NRMM Production by Compliance and Financial Highlig70 Figure 46. JCB NRMM Production by Segment and Region71 Figure 47. JCB NRMM Production by Compliance and Financial Highlights72 Figure 48. JCB Engine Range73 Figure 49. John Deere NRMM Production by Segment and Region74 Figure 50. John Deere NRMM Production by Compliance and Financial Highlights75 Figure 51. John Deere Engine Range76 Figure 52. Komatsu NRMM Production by Segment and Region

Page 5: Global Non-Road Powertrain Forecast Annual Report 2020

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Table of Figures77 Figure 53. Komatsu NRMM Production by Compliance and Financial Highlights78 Figure 54. Komatsu Engine Range79 Figure 55. Kubota NRMM Production by Segment and Region80 Figure 56. Kubota NRMM Production by Compliance and Financial Highlights81 Figure 57. Kubota Engine Range82 Figure 58. Liebherr NRMM Production by Segment and Region83 Figure 59. Liebherr NRMM Production by Compliance and Financial Highlights84 Figure 60. Liebherr Engine Range85 Figure 61. Volvo NRMM Production by Segment and Region86 Figure 62. Volvo NRMM Production by Compliance and Financial Highlights87 Figure 63. Volvo Engine Range

Page 6: Global Non-Road Powertrain Forecast Annual Report 2020

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Hot Topics01 - FPT Show Range of Hybrid Systems ▪ Fiat Powertrain Technologies show their F28 mild hybrid system at ConExpo 2020. Although it’s named a flywheel hybrid, the recovery and generation of electrical energy occurs at a motor generator, rather than the flywheel. 

02 - BorgWarner Automotive and Delphi Technologies Merger ▪ BorgWarner Automotive agrees to purchase Delphi Technologies. Ex-

panding BorgWarner to become one of the largest powertrain system suppliers in the world.

03 - Kubota Reaches Deal with Escorts ▪ Kubota is set to acquire a 10% stake in Escorts - Indian tractor OEM,

producing around 84,000 tractors in 2019. ▪ Kubota will also supply escorts with premium tractor models for the

Indian Market.

04 - Caterpillar and Perkins Hybrid and Digitalisation Develop-ments ▪ Caterpillar introduces hybrid engine concept and outlines advanced

digitalisation technology for its next generation of machines. Telem-atics, and active monitoring systems were on display in Las Vegas in March 2020, as well as an innovative parallel hybrid system coupled with their C18 engine platform. This hybrid technology fits nicely with the smaller hybrid systems introduced by caterpillar subsidiary Perkins in 2018.

05 - Liebherr and Stanadyne in Strategic Partnership ▪ Liebherr Components and Stanadyne (a US manufacturer of diesel

injection systems and components) announced a strategic cooperation for the development of common rail systems for on and off highway applications.

06 - John Deere Shows new 18.0L as Part of Agreement with Liebherr ▪ John Deere showed new engines at ConExpo, including a 18.0 litre

engine produced as part of an agreement with Liebherr.

07 - Danfoss to Acquire Eaton’s Hydraulics Business ▪ Danfoss agrees to purchase Eaton’s Hydraulics business for $3.3 Bil-

lion.

08 - Kubota’s Engine Announcements at ConExpo ▪ Kubota launched a new 7.5 litre engine to accompany the 5.0L engine

announced in 2017. The S7509 is a 6 cylinder engine that is compliant with Stage V emissions, using an SCR and DPF system.

▪ Kubota showcased a micro-hybrid system that provides around 10kW of power assistance during peak overloads.

09 - Deutz and JLG Show Electric Drive Telehandler ▪ Deutz highlighted their all electric drive system for a JLG telehandler at ConExpo. They also outlined their commitment to improved efficiency with hybrid, electric, hydrogen and natural gas technology on display alongside diesel.

10 - Volvo CE Receives Californian Grant for its Electric Con-struction Equipment ▪ Volvo CE was awarded a $2 million grant for a commercial pilot of it’s

electric wheeled loader and electric excavator. The grant, adminis-tered by the South Coast Air Quality Management District (South Coast AQMD), is funded by the U.S. Environmental Protection Agency’s (EPA).

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ConExpo 2020 - Engines & Alternative FuelsCaterpillar/Perkins ▪ Caterpillar and Perkins engines shared a connected stand, with exam-

ples of each of the major engine families. CAT’s display included a C18 engine with parallel hybrid system. The system reported to be similar to that on the D7E electric dozer, but with an additional battery pack adds 400kW to the base engine output of 600kW. Other CAT engines on dis-play included the CAT C32, C7.3 C2.8 and C1.1.

▪ Perkins stand included its hybrid engines, fitted to the new Synchro compact engine range (904 2.8/3.6). The hybrid range includes battery electric hybrid, mechanical flywheel and hydraulic accumulator systems to meet various application requirements.  The first models using these systems may include forklift trucks and wheeled loaders. Perkins’s new compact engine was featured in several CAT machines at ConExpo.

Fiat Powertrain Technologies ▪ CNHi’s F28 hybrid was launched at ConExpo, rated at 55kW, alongside

the F34, N67, N67 NG and Cursor 9 engines. The New F28 uses a DOC and DPF for Stage V in Europe, but only DOC for US Tier 4 Final. The F28 E-Flywheel is actually an electrically driven hybrid which will be paired with energy storage depending on application.

Cummins ▪ Cummins latest B4.5, B6,7, L9 and X12 Performance Series were on dis-

play. The no-EGR models with new Cummins compact emissions module offer 10% improvement in fuel consumption and 20% improvement in power.

▪ The F3.8 Performance Series was on display at Cummin’s partner Hyun-dai’s display, and the X12 Performance Series at Liugong’s stand. The engines were fitted to a number of machines at the show.

▪ Performance improvements on the new engines have been partly through use of compoents sourced through Cummins’ components

businesses, Cummins Turbo Technologies and Cummins Emissions Solu-tions.

Deere Power Systems ▪ John Deere Power Systems had many of its latest engine variants and

other technologies on the stand. The new 6136 engine has many new design features engineered to reduce TCO. For the US Tier 4 DPF is now an option not standard, unlike Europe where it is standard for Stage V. The new Deere 18.0l 6180 engine designed in a partnership with Lieb-herr was also confirmed and uses many of the same technologies as its smaller relative. Deere’s smallest engine, the 3029 was not on the stand, but is still being produced in India and currently being upgraded to BS-IV emissions. The high volume 4.5l 4045 continues with two main variants - tractor version for Deere has EGR to reduce fluid consumption, the PWX version with no EGR to make a cheaper engine for construction and 3rd party applications.

▪ JDPS also showed its newest electric drivetrain components — the EMD-100 electric motor drives, a GPD-200 generator pump drive, an EPD-200 electric pump drive and a PD400 dual inverter — designed to give off-highway customers both durability and flexibility to implement hybrid power. The components feature compact, high-speed motors, controlled by power electronics from John Deere Electronic Solutions.

Deutz ▪ Deutz showed a number of alternative power solutions including the

E-Deutz JLG G5-18A telehandler and a new small hybrid 1.2l using Kukje’s engine. It also showed its hydrogen engine, a partnership with Keyou. The G5-18A has a 360V system with 40kW travel motor and a second 40kW motor for the work functions. Power is drawn from a 42kWH modular E-Deutz battery pack. The 1.2l hybrid uses a 48V sys-tem.

Page 8: Global Non-Road Powertrain Forecast Annual Report 2020

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Geographic ReviewC & E Europe (000s)

2019

80

2020 2022

93930%

Asia Pacific Other (000s)

20202019 2022

110122 126

+1%

China (000s)

1,0661,219

20222019 2020

1,093

-4%

EU & EFTA (000s)

502

2019 2020 2022

475

590 -5%

India (000s)

20222019

867

2020

782953

+3%

Japan (000s)

20222019 2020

402475

435-3%

Latin America (000s)

20202019 2022

687681

-2%

US & Canada (000s)

20222019

523

2020

514439

-1%

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COVID Scenario

KGP Commercial Powertrain Trends Quarter 1 2020, Non-Road 4

Post-COVID Forecast

241 205 241 182 219 189 219 201

300255

301

226

313263

289258

422

405

533

425

526

465 413384

Q3 2019Q1 2020Q1 2019

865

Q2 2019 Q2 2020 Q3 2020 Q4 2019 Q4 2020

1,058

963

833

1,075

920918844

--1100%%

--2233%% --1133%%

--88%%

AGRICULTURECONSTRUCTIONMATERIALS HANDLING

2020 was expected to be flat to slightly down prior to the outbreak of COV-ID-19 and the resulting plant closures and drop in demand. The figure below shows how the impact is expected to develop on a quarterly basis in 2020. Chinese production was impacted first, causing a 10% decline quarter on quarter, but by the start of Q2, many of the factories had started up again, although at a reduced capacity. At the start of Q2 much of Europe and parts of North America are in lock down, with all major OEMs cutting or stopping production. The situation is expected to improve somewhat towards the end of Q2, but there will be

some residual effects into Q3. KGP will be doing monthly updates on plant closures and will output the corresponding data where available. There is limited information coming out of India about the full impact COVID is having, although many large OEMs, including Mahindra and TAFE have closed factories and all but stopped production. On a positive note, these declines are unique and have little reference on key drivers, which although subdued, are still geared towards growth in 2021 and 2022, and recovery is expected to be swift.

Figure 1. Quarterly Impact of COVID-19(Units ‘000)

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Overall production declined around 6% in 2019, and prior to the COVID pandemic negatively impact all outlooks, we expected 2020 to be flat to slightly down. COVID will cause a production decline of around 16% in 2020, primarily in the first two quarters of the year. This will cause some challeng-es related to purchasing trends, especially for agriculture, because in many regions in the Northern hemisphere, Q2 is a peak purchasing period, howev-er production has been at a stand still.

▪ Central & Eastern Europe declined around 20,000 units in 2019, ap-proximately 20% of total production in 2018. The data we track for C & E Europe is mostly agricultural.

▪ Chinese production was flat in 2019. Agriculture fell significantly, around 10%, but this was offset by 7% growth in the construction equipment sector.

▪ EU & EFTA was flat, agricultural production fell 2%, and construction grew 2%. Materials handling had a slight increase of around 2,500 units, equating to 1% of the total.

▪ India was the worst effected market in 2019, with volumes falling around 140,000 units. Primarily due to reducing agricultural subsidies and poor commodity prices. Indian volumes accounted for around 56% of total decline in 2019.

▪ Japanese production fell a modest 4% in 2019, it’s agricultural and construction equipment sectors were flat, but materials handling fell by almost 18,000 units.

▪ Poor commodity prices globally caused declining production volumes in Latin America in the order of 25% (16,000 units) although they saw an 18% increase in construction equipment production. It was not enough to off-set the decline in agricultural equipment.

▪ North American production fell approximately 3% in 2019, with agricul-ture flat, construction equipment was depressed, partially due to the trade war with China, and partially due to sluggish infrastructure and housing investment.

Regional Outlook

(Units ‘000)Figure 4. NRMM Production by Region

Region

523 439 514 562

475402

435 452

867782

953 977

590

475

502518

1,219

1,066

1,0931,240

68

93

81 40

2019 2020

76

93

2022

37

104

80

8642

2026

46

122

4,015

137110

3,458

3,832

4,117

126

-14%+11%

+7%

C & E EUROPE

INDIA

CHINAEU & EFTA

JAPAN

LATIN AMERICAMIDDLE EAST & AFRICANORTH AMERICAOTHER ASIA PACIFIC

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JapanMarket Conditions ▪ The Japanese economy remained sluggish in 2019 with GDP at 0.8% in

2019. The consumption tax rise implemented in 2019 was expected to result in even slower GDP growth in 2020, previously estimated at 0.2%. This has now been revised to -2%.

▪ Japan has been relatively less affected by COVID, with fewer plant pro-duction disruptions than other regions. However, production will suffer from not only a lack of supply for components but also a lack of demand from other regions.

▪ Net exporter of both construction and agricultural equipment, can make the region more volatile than other regions.

▪ Market leader for compact engine technology, compact equipment and advanced electrification technology.

Agriculture ▪ Agricultural production was flat in 2019, as commodity prices and a glob-

al decline in favourable buying incentives for farmers caused the market to stall slightly. COVID will cause a relatively modest decline of around 13% in 2020, and growth will return swiftly with 5% and 6% growth ex-pected in 2021 and 2022 respectively.

Construction ▪ Construction equipment production was flat in 2019 as the market 

responded to the uncertainties created by a US-Chinese trade war and challenging economic conditions.

▪ COVID is expected cause a 22.5% decline in 2020 production.

Materials Handling ▪ Declining volumes as cheaper machines become available to key mar-

kets. COVID expected to cause a 17% decline in production, with falling volumes a trend though the short term forecast period too.

Figure 11. Japan Segment Outlook

JCB - NRMM Summery Feb 2020 28

Japan

Source: KGP/OHR Non-Road Mobile Machinery Engine & Aftertreatment Forecast Q4 19

Units 000s

72 60 63 58

228

192 203 211

175

151169 183

452

2019 20222020

402

475

2026

435

AGRICULTURE

MATERIALS HANDLINGCONSTRUCTION

(Units ‘000)

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Construction - Regional Analysis

2019 Production - 802 thousand

Construction

174 144 178 206

228192

203211

9086

106111

186

148152

157

467

382319

392

2022

LATIN AMERICA 15

2026

C & E EUROPE

CHINA

INDIA

4

JAPAN

2019

OTHER ASIA PACIFIC

2020

NORTH AMERICA

36

17

1,200

36

EU & EFTA

1,013

1,136

1514

1,0013

4

33 39

3

-17%

+1%

+12%

Figure 17. Construction Equipment Production by Region

Construction equipment globally was flat in 2019, There were de-clines in volume in India, North America and Korea, but this was offset by a 7% production increase in China, generated by strong de-mand for excavators and mobile cranes. A 2% increase in EU & EFTA driven by double digit growth in southern markets, namely Italy, Portugal and Spain. There was a stand out decline in 2019 with a significant decline in sales in the UK amid political tensions and economic uncertainty surrounding Brexit. Now the process of leaving has begun many are expecting the market to normalise somewhat. The market for construction equipment in India peaked in 2017 and

then again in 2018. However, 2019 saw a significant decline of 16% in production volume, resulting in around 90,500 units produced. The forecast for Indian production is positive, with their economy de-veloping and huge investment in infrastructure and housing expect-ed, they are a high growth market for construction equipment. Production in Korea fell around 30%, the main reason was the de-cline in domestic sales but also the anticipated decline in China and South East Asia in 2019 affected sentiment in the domestic mar-ket. Korean domestic demand declined by up to 35 %. Ramping up production was not easy as the year progressed when growth was increasing. The COVID problems in the region will not see any signifi-cant upturn in 2020

(Units ‘000)

Page 13: Global Non-Road Powertrain Forecast Annual Report 2020

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NRMM Legislation

168 142 178

2,220

1,7571,188

665

351

447

1,000

1,096

971

768 862

770

3581,180

243

213

245

292

20262022

131

62

1152019 2020

4,015

3,458

3,832

4,117

Electric Tier 4iTier 5Tier 4

Tier 3Tier 2 or less

▪ Europe is the leader for emissions legislation globally with the implemen-tation of Stage V in 2019 and 2020. With COVID dampening demand so much at the start of 2020, a key time for the transition to Stage V for all engines/machines between 56-130kW, associations are lobbying for a 12 month extension for all transition engines due to the pandemic. Ac-cording to our sources it is likely that a temporary stay of implementation will be granted in Europe.

▪ The big changes outside of Europe have come mainly from China and India.

▪ China is looking to introduce Stage IIIB equivalent legislation by Decem-ber 2020. However, it does come with an additional particulate number limit which will require a DPF for all engines above 37kW.

▪ India is set to introduce Stage IV legislation for engines above 37kW (75% of production in India is below this) and Stage V equivalent (includ-ing below 8KW) by 2024, although KGP holds reservations regarding this timing.

▪ As legislation becomes more stringent globally, opportunities for elec-trification are increasing. In India, Europe and North America there are examples of mild hybridisation designed to generate power above a legislative technology threshold (56kW for SCR, or 37kW for DPF), whilst keeping engine power below the threshold. This allows for optimal per-formance for the customer - with the additional efficiency improvements associated with electrification - whilst not needing aftertreatment that comes with a host of issues, including fitment problems, and increased maintenance requirements.

Figure 23. Non Road Production by Compliance

(Units ‘000)

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The NRMM industry is dominated by internal combustion engines (ICE), with over 95% of ICE being powered by diesel fuel. The sector will continue to be dominated by diesel ICE throughout the forecast horizon. However, alternative fuels will begin to play a much greater role, and the value of this technology as part of the sector will increase significantly over the next 5-15 years. Pressure to reduce CO2

in the NRMM sector is mounting. The commercial vehicle and passenger car sectors are now subject to CO2 legislation, and historically the NRMM sector has followed suit within 3 to 5 years. There is a lot of environmental pressure for low CO2

technology, but pre-vious rounds of emissions legislation have made machines increasingly expensive. In addition, construction and agriculture are notoriously low income per hour worked. Therefore, customers are looking for improved efficiency to offset price increases, and greater functionality to improve the operational efficiency of machinery. Both of these goals can be achieved with electrification and hybridisation. Work-site emissions are under much closer scrutiny as we move into a much more environmentally aware age. Diesel engines often contribute a large portion of work-site emissions, but in many cases they are not the most polluting. OEMs, suppliers and other stakeholders are investing heav-ily in electrification, telematics, autonomy and other digitalisation technol-ogies as a means to develop NRMM industries at a business model level, and develop an energy and economically secure future. Key applications for electrification:- Mini Excavators- ForkliftsKey Applications for Hybridisation: - Agricultural tractors- Crawler excavators

- Wheeled Loaders- Compaction Equipment

Hybrid Electric Forecast

3,577

2022

56

3

3,770

2019 2026

4,015

3,458

4,117

243

213

3,832

3,769 4

2020

3,241

10

245

292

Hybrid

ICEElectric

Figure 28. NRMM Engine Forecast by Powertrain TypeUnits '000s

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Doosan Group ProfileBackgroundDoosan Infracore has its own engine programme as well as souring engines from other engine OEMs for its range of off-highway equipment.Growth has been significantly enhanced by acquisitions, notably its pur-chase of 51% of Korea’s Daewoo Heavy Industries in 2005. The purchase of Bobcat in the USA, the world’s largest manufacturer of compact construc-tion equipment, followed in 2007. That year it also bought Yantai Yuhua Machinery Company, a Chinese maker of wheeled loaders. Doosan has manufacturing plants in Belgium, China, France, Korea, and the USA. In recent years, Doosan has sold part of Bobcat through an IPO, although still owns 51% of Doosan Bobcat Inc.

Hot Topics ▪ Showcased a range of digitalisation technologies at ConExpo 2020.

Including the Concept-X autonomous worksite, and DoosanCONNECT, which is their telematics systems available on all new machines.

▪ Also at ConExpo, Doosan revealed its electric mini excavator concept, ready for the North American Market in 2022, so somewhat lagging be-hind it’s competitors.

Production ▪ Produces machinery in Brazil, China, Czech Republic, France, India, Ko-

rea, Norway and North America. ▪ Around 47% of Doosan and Bobcat production uses captive engines.

This share will increase with Doosan’s new engine programmes. ▪ Doosan Infracore’s production was around 50% highly regulated, be-

cause of high volume of sales into lesser regulated markets in the Asia Pacific, and Eastern Europe. 

▪ Bobcat’s production was around 80% highly regulated, with a most of it’s machinery purchased within the domestic market in North America.

Figure 39. Doosan NRMM Production by Segment and Region

KGP Non-Road Mobile Machinery Powertrain Forecast GNRPTF Quarter 1 2020

20

17

16

17

2019

32

19

14

33

2020

19

15

17

34

20

2022

18

36

18

2026

85 83 8591

EU & EFTAAsia PacificNorth AmericaChina

Doosan NRMM Production by Segment (000s)

73 7675

9102019

92020 2022

83

92026

85 83 8591

ConstructionMaterials Handling

Units '000s

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Doosan Group ProfileAlternative Fuels ▪ Doosan demonstrated a hybrid excavator (similar to Caterpillar, Hitachi

and Komatsu that captures energy generated during swing motor opera-tion) as early as 2009, but it was never bought to production.

▪ In 2020, the demonstrated their first electric mini excavator, but this is not expected in production for around two years - this is lagging behind some of Doosan’s key competitors.

▪ In terms of other advanced systems, Doosan are in the testing and development stage, with no systems yet released to industry. They are reportedly considering a 48v micro hybrid and a mild hybrid system that would significantly improve efficiency and allow for machine power in the 56kW+ category without the need for an SCR system.

▪ Showed a prototype Diesel Electric Drive wheeled loader at ConExpo 2020, not available until after 2023.

Financials ▪ Doosan have had a turbulent time in the past few years, with significant 

losses in 2015 and 2018. Although the years in-between have seen growth, the upturns are not enough to cover losses. There has been some restructuring to address this issue, for example selling 49% of Bobcat.

Figure 40. Doosan NRMM Production by Compliance and Financial Highlights

Korean Won (Millions) 2014 2015 2016 2017 2018

Net Sales 20,312,360 18,960,372 16,470,291 17,585,205 18,172,167

Net Income 33,249 - 1,750,810 50,416 45,949 - 340,520

R&D Expenditure 14,822 20,158 18,658 19,564 19,053

17

2019

29

1

7

85

45

8

24

44

5

2020 2026

13

41

12

2022

1

18

16

42

13

85 83

91Tier 5

Electric Tier 4iTier 2 or lessTier 3

Tier 4

KGP Non-Road Mobile Machinery Powertrain Forecast GNRPTF Quarter 1 2020

Doosan NRMM Production by Emissions Compliance (000s)

Fiscal year reported

Units '000s

Doosan Group Financials, including Infracore.

Page 17: Global Non-Road Powertrain Forecast Annual Report 2020

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Doosan Group Engine Range

▪ Doosan produce all their engines in Korea, but have looked at opening a factory in China.

Figure 41. Doosan Engine Range

EEnnggiinnee DDiissppllaacceemmeenntt EElleeccttrriiffiiccaattiioonn** EEmmiissssiioonnss EEqquuiivvaalleennccee

Micro Mild Full HEV Tier 4i Tier 4 Tier 5

D18 1.8L ▪ ▪ ▪

D24 2.4L ▪ ▪ ▪ ▪

D3.9 3.9L ▪ ▪

D34 3.4L ▪ ▪ ▪

D58 5.8L ▪ ▪

DV11 11.0L ▪ ▪

DL06 7.4L ▪ ▪ ▪

DL08 9.8L ▪ ▪

DX12 11.1L ▪ ▪

DX22 22.0L

Doosan Engine Range

KGP Non-Road Mobile Machinery Powertrain Forecast GNRPTF Quarter 1 2020*Including Technology in the Prototype Stage

Page 18: Global Non-Road Powertrain Forecast Annual Report 2020

For further information please contact:

Knibb, Gormezano & [email protected] kgpauto.com UK +44 1332 856301

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