Off-Highway Electric Vehicle Market to Record an Exponential CAGR by 2030
Off-Highway Electric Vehicle Market: Introduction Off-highway electric vehicles include agriculture tractors, mining trucks, lawn movers, and construction equipment utilized in off-highway applications with electric propulsion Key Drivers of Global Off-Highway Electric Vehicle Market Rapid development of infrastructure in developing countries and initiation of re-development projects in developed countries are boosting the sales of electric-off highway vehicles. Electric off-highway vehicles are more productive as compared to their IC engine counterparts. They contribute to lesser operational cost due to fewer mechanical parts and hence, are being increasingly preferred by construction contractors. Off-highway vehicles are also preferred in agricultural applications due to an increase in fuel prices and active government measures such as subsidies on electric tractors spurring the adoption of electric tractors, which in turn is driving the off-highway electric vehicl...