Intermediate Demand for Hybrid and Alternate Fuel Equipment

Higher Initial Cost Than Conventional ICE Equipmentĭevelopment of Long-Range and Fast-Charging Battery Technology Rising Demand for Low-Noise Construction Activities in Residential Areas High Ventilation Costs in Underground Mining High demand for mini construction equipment, including mini excavators, loaders, and dozers, is driving the growth of the electric off-highway equipment market in Americas. The Americas electric off-highway equipment market is estimated to be the second largest market, globally. The mining industry in this region is large and many leading players that hold a significant share of the mining equipment market are present in this region. Moreover, the region has large deposits of coal, iron, zinc, copper, cement, lithium, and precious metals. (US), Deere & Company (US), Soletrac Inc. Some of the leading companies that are present in this region are Caterpillar Inc. Recent electric equipment launches from the leading off-highway equipment manufacturers has promised the growth of electric off-highway equipment market in this region.

In addition, with the upcoming stringent emission norms for fuel economy in the region, companies are making efforts to manufacture electric and hybrid equipment for the domestic market. The electric off-highway equipment demand in Americas is rapidly increasing because of the environmental protection measures adopted in these key countries. The leading countries such as US, Canada, Mexico, Brazil, and Argentina are considered under the Americas region. Though these electric equipment would face challenges such as higher cost than their ICE counterparts or longer charging time, the advancements in the battery technology would make the electric equipment popular in the long run.Īmericas is projected to be the second largest market for electric off-highway equipment However, the stringent noise and emission regulations within the city limits would drive the market for such battery electric and hybrid construction equipment. The demand for sustainable equipment in the mining industry to decrease ventilation costs is expected to drive the electrification of mining equipment during the forecast period. The battery electric off-highway equipment would lead the market due to the stringent noise and emission regulations.

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