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Global electric vehicles industry market value 8.81 billion USD by 2022

Author: QYResearch | Publish date: 2018-04-09 | Views: 63
Diesel-electric technology has been around since the beginning of the 20th century and was historically used in large mining equipment, cranes, locomotives and marine vessels. This technology has been adapted and is now emerging in smaller construction equipment.
Publisher: QYResearch

Published Date: 2018-04-09

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Diesel-electric hybrid technology is being used in crawler dozers, wheel loaders and asphalt pavers. Electric technology and hybrid powertrain technology are two effective technologies of energy conservation and emissions reduction and have achieved great success in automobile field. In order to decrease the high fuel consumption rate of construction machinery, electric and hybrid powertrain technology is increasingly drawing the attention of manufacturers, government and scholars. Hybrid wheel loaders and excavators, which share the maximum ownership from the global market, have particularly made significant progress.


The market for electrified industrial applications for wheel loaders, excavator, mining, construction, and agricultural vehicles is anticipated to reach over 8.81 billion USD per year by 2022 with CAGR of 48% in the coming five years.


For these applications, electrification holds many benefits including either reducing or entirely eliminating fuel consumption; reducing or eliminating greenhouse gas (GHG) emissions in order to comply with the more demanding global emissions requirements that are being put on these types of vehicles; increasing vehicle “up time” by eliminating the need to replace the battery during the work shift; and of course, by reducing the amount of maintenance and service costs. For electric vehicles for the construction and the agriculture industry, their simplicity, fuel efficiency and reduced maintenance costs will continue to drive rapid adoption.


The electric agricultural vehicle market is expected to grow at a rate of about 58% per year due largely to the global population growth and the trend of population concentrating in urban centers, which will continue to reduce the availability of rural labor and drive the demand for increased agricultural automation. For mining, vehicle electrification has a strong value proposition due to the high operational cost because of the volatility of diesel prices and the high costs of having to ventilate the diesel emissions inside mines. Both costs can be substantially reduced through electrification.


Komatsu, John Deere, Caterpillar, and others manufacture the big vehicles - mainly hybrid - while other manufacturers offer smaller, pure-electric versions. In the future, more and more companies will enter the market.


The Global Electric Vehicles for Construction, Agriculture and Mining Market Research Report 2017 report released by QYResearch provides a basic overview of the Electric Vehicles for Construction, Agriculture and Mining industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.


The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Electric Vehicles for Construction, Agriculture and Mining industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.


Click to view the full report:http://www.qyresearchglobal.com/goods-1087041.html
QYResearchglobal focus on market survey and report 
Media contact: press@qyresearch.com

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