Billion-dollar market for EV in construction, agriculture and mining

Electric vehicles for construction, agriculture and mining will be a USD87 billion market in 2028, according to emerging markets research company, IDTechEx.

The EV industry about to change radically, say the researchers.

For example, in mining, over 90 percent of the world’s mines are open cast. They are often in remote places up to 4,000 meters above sea level, where shipping diesel can cost more than buying it. Consequently, there is now a move to have 350 kW giant haul trucks working the floor and separately the top of the mine with electric rail-veyors lif ting the ore from bottom to top. In an all- electric solution new pollution laws can be met, image improved and money saved, the electricity coming from the mine’s own wind turbines and photovoltaics. Battery swapping and fast charging of those batteries means 350 kWh batteries suffice – big, but no larger than those in other EV sectors.

The report from IDTechEx, Electric Vehicles for Construction, Agriculture and Mining 2018-2028, explains all this and gives detailed forecasts, comparisons and assessments. It shows how mines will electrify much more but only after the current bust period of the boom-and- bust that characterises this industry. It shows why the ubiquitous tractor in agriculture will, at last, be electric in volume quantities by 2028 and how new forms of vehicle design are coming. Benchmarking from the 46 categories of electric vehicle that IDTechEx forecasts, the report explains what new technologies will arrive and why. Supercapacitors, new power components, greater modularisation and integration will transform this industry. The report draws on interviews and results of many recent conferences on these sectors.

Order the report HERE ➔