The market for electrified industrial applications for forklifts, cranes, platform lifts, mining, construction, and agricultural vehicles is anticipated to reach over $20 billion per year by 2025, according to research by IDTech.
For these applications, electrification holds many benefits including either reducing or entirely eliminating fuel consumption; reducing or eliminating greenhouse gas (GHG) emissions in order to comply with the more demanding global emissions requirements that are being put on these types of vehicles; increasing vehicle “up time” by eliminating the need to replace the battery during the work shift; and of course, by reducing the amount of maintenance and service costs. For electric vehicles for the construction and the agriculture industry, their simplicity, fuel efficiency and reduced maintenance costs will continue to drive rapid adoption.
The electric agricultural vehicle market is expected to grow at a rate of about 2% per year due largely to the global population growth and the trend of population concentrating in urban centers, which will continue to reduce the availability of rural labor and drive the demand for increased agricultural automation.
For mining, vehicle electrification has a strong value proposition due to the high operational cost because of the volatility of diesel prices and the high costs of having to ventilate the diesel emissions inside mines. Both costs can be substantially reduced through electrification.
EnerDel offers a range of off the shelf and custom designed Vigor+ energy storage systems to meet the needs of this growing market.