Off-Highway Electric Vehicles Market to Grow with Massive CAGR of 21.5% Through 2030, says P&S Intelligence
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Key Findings of Off-Highway Electric Vehicles Market Report
APAC continues to witness the highest demand for off-highway machines with fully electric or hybrid-electric propulsion. The region is the world's largest construction market and also the most-polluted, led by China and India in both these aspects. Therefore, the focus on integrating electric drivetrains in off-highway vehicles has become really strong here in the recent past. Additionally, APAC is the largest manufacturer of EVs, thus leading to their easy availability.
Browse detailed report on Electric Off-highway Vehicle Market Growing Trends, Top Players, Growth Prospect, 2022-2030
This presents lucrative opportunities for key off-highway electric vehicles market players, including Hyundai Doosan Infracore Co. Ltd., Komatsu Ltd., AB Volvo, Caterpillar Inc., LIEBHERR-International Deutschland GmbH, J.C. Bamford Excavators Limited, Sany Heavy Equipment International Holdings Company Limited, DEERE & COMPANY, Epiroc AB, and Hitachi Ltd. Thus, they have begun entering into partnerships and collaborations, merging with and acquiring similar firms, and expanding their geographical presence, apart from launching new vehicle models.
Off-Highway Electric Vehicles Market Segmentation Analysis
Off-Highway Electric Vehicles Market by Propulsion
Off-Highway Electric Vehicles Market by Energy Storage Type
Off-Highway Electric Vehicles Market by Energy Storage Capacity
Off-Highway Electric Vehicles Market by Power Output
Off-Highway Electric Vehicles Market by Application
Off-Highway Electric Vehicles Market by Region
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