A report covers the technical and market trends for industrial and commercial vehicles, hybrid and pure electric. The $3,995 report tells of activities at a host of manufacturers for the vehicles and their components, also with roadmaps for future technological developments.
Those selling components for electric vehicles and those wishing to produce such vehicles, says the report, must find where the most money will be spent. That must lead them to industrial and commercial electric vehicles because today these represent 60% of the value in the electric-vehicle market. This sector is set to grow 4.2 times in the next decade. Industrial and commercial electric vehicles include heavy industrial units, a the term referring to heavy lifting, as with forklifts. Then there are buses, trucks, taxis, and the other light industrial and commercial vehicles. There are also a few work boats. Industrial electric vehicles make industry more efficient and commercial electric vehicles reduce congestion. Both reduce pollution and align closely with government objectives concerning industry and environment, yet they minimally depend on subsidy, in contrast to other electric vehicles.
The market for electric industrial vehicles is already large. For example, by law, forklifts must be electric when used indoors. Little growth remains in that market, but outdoors, most all earthmoving and lifting vehicles use conventional internal-combustion engine.
That is about to change because hybrid-electric versions reduce cost of ownership and exposure to price hikes with fossil fuels. Airports, often government owned or funded, are under great pressure to finish converting their Ground Support Equipment (partly using federal grants) to pure electric versions for on and off the tarmac.
Filed Under: News