Electric Off-Highway Equipment Industry Data Book - Electric Agriculture Equipment, Construction Equipment, Mining Equipment Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Electric Off-Highway Equipment Industry is anticipated to increase at a significant CAGR from 2023 to 2030.
Grand View Research’s Electric Off-Highway Equipment industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Electric Off-Highway Equipment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Electric Mining Equipment Market Growth & Trends
The global Electric Mining Equipment Market is expected to expand at a CAGR of 11.5% from 2023 to 2030. The mining industry has been dependent on diesel for its major operation, such as transportation vehicles, along with operating mining equipment for underground and surface mining. According to International Council on Mining and Metals (ICMM), diesel-powered engines emit 30 to 80 % of emissions in a mining site. With mining concentrated in hostile and harsh terrains with extreme temperatures, the emission emitted contributes to the higher temperature. Using diesel-powered equipment generates more pollutants while producing more noise and heat while incurring higher operational costs. These factors of conventional mining equipment are fueling the adoption of electric mining equipment in the mining industry.
The continuously growing global population has surged the requirement for increased industrial activities and infrastructure development projects. In countries with high mining concentration, several nations with the most mining equipment, including China, Russia, Indonesia, South Africa, Australia, the USA, Canada, and Chile, may provide considerable investment opportunities for supporting the uptake of electric mining equipment in their respective regions A range of variants that are either rechargeable batteries, cable-tethered, or use overhead trolley-lines make up most electrified mining equipment. The latter are more common in open-pit mines where using big surface trucks is necessary.
Order your copy of the Free Sample of “Electric Off-Highway Equipment Industry Data Book - Electric Agriculture Equipment, Construction Equipment, Mining Equipment Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Electric Agriculture Equipment Market Growth & Trends
The global Electric Agriculture Equipment Market is growing at a CAGR of 6.1% during the forecast period, as per a new report by Grand View Research, Inc. Growing commercial farming coupled with a labour shortage is a major factor driving the market growth for electric agricultural equipment. The demand for increased crop yield and the hovering threat of food security is other factors supplementing the market growth for electric agricultural equipment in major agricultural economies. The integration of electric propulsion in agricultural mechanisms owing to increased crop yield, decreased production cost, reduction in post-harvest losses, and efficient time management are also favouring the market growth worldwide.
Growing innovation in an attempt to electrify agricultural operations owing to rising carbon emission levels coupled with rising fuel prices is a major factor propelling the electric tractor market growth. The increasing concentration of commercial farming in regions of Asia, such as China and India, is further expected to support the demand for E-agriculture tractors. E- tractors carry certain advantages against their conventional counterparts, such as lesser sounds, economic feasibility, lower maintenance, longer product life, and compact designs are helping electric agricultural tractors gain traction within the farming and food & beverage industry.
The incumbents are leveraging technologies such as Artificial Intelligence, fleet management, data analytics, and autonomous vehicle principles for cost-effective and sustainable farming operations. For instance, in November 2022, Monarch Tractors announced the development of autonomous E-tractors calming to save 53 metric tons of carbon dioxide and USD 18 thousand per tractor. While addressing the growing shortage of farm labour, Monarch Tractors enables a single tractor operator to manage eight fleets of the electric tractor. The tractors are equipped with sensors and cameras for precise farm mapping while ensuring vehicle safety through real-time pitch management.
Go through the table of content of Electric Off-Highway Equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study
Competitive Landscape
Key players operating in the Electric Off-Highway Equipment industry are:
- AGCO Corp.
- CNH Industrial N.V.
- Deere & Company
- CLAAS KGaAmbH
- Escorts Ltd.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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