Electric Off-Highway Equipment Market in-depth Industry Analysis with current trends and Future Estimations
Category: #business  By Rahul Varpe  Date: 2022-11-24
  • share
  • Twitter
  • Facebook
  • LinkedIn
Electric Off-Highway Equipment Market in-depth Industry Analysis with current trends and Future Estimations

The global electric off-highway equipment market is slated to expand at a substantial rate through 2028 owing to increasing government initiatives to promote the development of smart cities.

Recently, major players in the industry are investing in electric mobility and construction equipment to reduce carbon emissions, which has been favorable for electric off-highway equipment market growth. For instance, in October 2021, Volvo CE, the Swedish construction equipment firm, announced its plans to launch three novel electric compact construction equipment, namely, the EC18 Electric compact excavator, the ECR18 Electric compact excavator, and the L20 Electric compact wheel loader.

This move was part of Volvo CE’s plans to deploy a total of five electric machines, including the previously introduced L25 Electric wheel loader and the ECR25 Electric compact excavator, in addition to these three models. The firm’s and the Volvo Group’s initiatives to minimize emissions include the development of electric-powered equipment. In June 2021, the Science Based Targets initiative authorized the Volvo Group’s climate targets. These targets include achieving net-zero greenhouse gas (GHG) emissions across the value chain at least by 2040 as well as electrifying at least 35% of its total vehicle fleet by 2030.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/5261

To cite another instance, in May 2022, Hitachi Energy, a global technology business, was chosen as a technology supplier in the Charge On Innovation Challenge. Hitachi Energy claimed that its proposal fulfilled the judges’ stringent criterion for interoperable solutions.

The adaptable design allows the safe delivery of electricity to huge battery-powered off-road electric freight trucks while preserving or boosting productivity. The initiative, which was launched by mining companies BHP, Vale, and Rio Tinto, as well as a number of industry sponsors, brings together companies in the global mining sector to address one of the major obstacles in decarbonizing mining operations – haul truck electrification.

The electric off-highway equipment market has been segmented on the basis of type, propulsion, and region. Based on type, the industry has been divided into excavators, loaders, and dump trucks. The dump trucks sub-segment is expected to register robust growth through the forthcoming years. Increasing landscaping activities as well as rising investments towards the mining industry are slated to boost the demand for dump trucks.

Request for customization @ https://www.gminsights.com/roc/5261

From the regional perspective, the Middle East & Africa electric off-highway equipment market is set to expand substantially through 2028. The proliferation of construction equipment rental businesses and government initiatives in smart cities across MEA are likely to foster regional industry outlook in the future.

Table of Contents

Chapter 1 Methodology and Scope

  • 1.1 Methodology
    • 1.1.1 Initial data exploration
    • 1.1.2 Statistical model and forecast
    • 1.1.3 Industry insights and validation
    • 1.1.4 Scope, definition and forecast parameters
      • 1.1.4.1 Definitions
      • 1.1.4.2 Assumptions, methodology and forecast parameters
  • 1.2 Region wise impact analysis of COVID-19
    • 1.2.1 North America
    • 1.2.2 Europe
    • 1.2.3 Asia Pacific
    • 1.2.4 Latin America
    • 1.2.5 MEA
  • 1.3 Data Sources
    • 1.3.1 Secondary
    • 1.3.2 Primary
  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

Read More >>

More News By Rahul Varpe

Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
Construction Site Preparation Equipment Market : Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast
By Rahul Varpe

The construction site preparation equipment market is expected to grow substantially by 2028 on account of rising number of public infrastructure development projects worldwide. In addition, increasing investments towards R&D activities from manu...

Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
Concrete Chain Saw Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast
By Rahul Varpe

The concrete chain saw market is slated to witness exponential growth by 2028 on account of the booming construction and building maintenance sector around the world. In addition, growing awareness regarding the benefits of using a concrete chainsaw ...

Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
Stand Tile Saw Market Estimation, Global Share, Industry Outlook, Price Trend, Growth Opportunity and Top Regional Forecast
By Rahul Varpe

The stand tile saw market is poised to expand substantially by 2028 on account of burgeoning number of construction activities around the globe. In addition, rapid urbanization and rising consumer spending across key regions are likely to further pro...