Industrial & Commercial EV Sector to Grow 4.2 Times in Years to Come, States IDTechEx in Its New Report Published at MarketPublishers.com24 Jun 2016 • by Natalie Aster
LONDON – The industrial and commercial electric vehicle (EV) sector represents 60% of the value of the EV market. Indeed, the market is expected to grow 4.2 times in the years to come.
Both of these vehicle types decrease pollution and are closely in tune with government targets regarding industry and the environment, yet they minimally rely on subsidy, as against some other EV types.
The market for industrial EVs is already quite large as, according to the law, fork trucks have to be electric for indoor use. The market continues to post little growth, though outdoors nearly all earthmoving machines and lifting vehicles utilise the traditional combustion engine. That is expected to change drastically soon because hybrid EVs reduce exploitation costs and exposure to a leap in prices with fossil fuels. Hybrids perform better and better, too, with increased power from stationary, ability to deliver electricity to other equipment as well as other advantages including less pollution and noise.
Another industrial trend involves the use of EVs to substitute slow and often dangerous hand operations. Sometimes a self-propelled indoor crane takes the place of scaffolding. An electric stair climber serves as a substitute for human effort and potential injury. At the same time, sit-on floor cleaning machines in buildings, sit-on ice cleaners in rinks, outrider vehicles carried on garbage trucks and a slew of similar solutions accelerate processes and decrease costs and injuries.
New report “Industrial and Commercial Electric Vehicles on Land 2016-2026” created by IDTechEx presents comprehensive insights into the market for industrial and commercial EVs.
The study covers the diverse market and technical trends for industrial and commercial vehicles, be they hybrid or pure electric, in relation to the overall EV ecosystem. The research report limelights key market growth drivers, reviews the leading technologies and their prospective development roadmaps, and offers profiles of the top manufacturers of the vehicles and their components alongside details on their latest activities. The study provides detailed forecasts of the global heavy industrial, light industrial & commercial, bus and taxi markets by ex-works price, numbers, and overall market value for the nest ten years.
More new studies by the publisher can be found at IDTechEx page.