Commercial & Industrial Electric Vehicle Sectors To Grow To 4.2 Times Current Size Over Next Decade
According to IDTechEx, “those selling components for electric vehicles and those wishing to make the vehicles themselves must seek where the majority of the money is spent and will be spent. That must lead them to industrial and commercial electric vehicles because today these represent 60% of the value of the electric vehicle market.”
The value is apparently in the commercial and industrial sectors, which combined are expected to grow “4.2 times in the next decade,” states IDTechEx.
What types of vehicles are included in these sectors? IDTechEx states:
Industrial and commercial electric vehicles include heavy industrial vehicles, the term referring to heavy lifting, as with forklifts.
Then we have buses, trucks, taxis and the other light industrial and commercial vehicles. There are also a few work boats and commercial boats…
IDTechEx sees significant future growth in a few areas, including self-powered indoor cranes to replace scaffolding, forklifts, sit-on floor cleaners in buildings, sit-on ice cleaners in ice rinks, trash collection trucks and so on.
So, maybe not the types of vehicles you expected.
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