Commercial & Industrial Electric Vehicle Sectors To Grow To 4.2 Times Current Size Over Next Decade

3 years ago by Inside EVs Staff 2

Balqon Electric Tractor

Balqon Electric Tractor

Motive equipped electric garbage truck

Motive equipped electric garbage truck

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.

You can download the full report, for a massive fee at: https://www.reportbuyer.com/product/1497403/

Tags: , , ,

2 responses to "Commercial & Industrial Electric Vehicle Sectors To Grow To 4.2 Times Current Size Over Next Decade"

  1. Lustuccc says:

    I find it astounding how much mediatics efforts is thrown in to minimise the raise of the electric age in transportations.
    “in ten years”, “in 2040… ”
    They must have pretty accurate astrologists to predict that in 10 years, only but precisely 4.2 ( not .1 ! ) growth in this almost inexistant market.

    IMMHO (most) this market will grow 1000 times!

    There is always a point where exponential growth catch on, and quite smart is the one who will guess the effects of all the technological breaktrough at our doors.

    Unless a big cartel put continuing pressure on new techs that is.

    BTW where is this Freigthliner 150 miles delivery truck from 5 years ago?
    http://www.wired.com/2010/03/freightliner-taps-tesla-to-build-an-electric-truck/

  2. Lou Grinzo says:

    I expect to see a big push into EVs from business, gov’t, and institutional users (e.g. universities), simply because they tend to make decisions in a centralized way and based on TCO. All it takes is a few key people at XYZ Inc. or State U. to decide to adopt EVs and it can be done, resulting in multiple, possibly many, units put into service.

    This is why I’m so hopeful that Nissan will bring the e-NV200 to the US, as rumored; I already see a decent number of the gasoline version on the roads locally, and I’m sure many local businesses would find the EV version attractive. Plus, it would push at least one competitor (Ford) to make an EV version of their minivan widely available.