Electric Vehicle Market Growth Fueled by Industrial and Commercial Vehicle Usage
IDTechEx Research, a leading provider of independent market research, business intelligence and events on emerging technology has announced the availability of a new report, Industrial and Commercial Electric Vehicles on Land 2017-2027.
According to a new report, the industrial and commercial sector represents 60% of the value of the whole electric vehicle (EV) market, and it is set to grow 4.5 times in the next decade.
IDTechEx Research noted that the advantages of EVs are compelling: “Industrial electric vehicles make industry more efficient and commercial electric vehicles reduce congestion. Both of them greatly reduce pollution and align closely with government objectives concerning industry and the environment, yet they minimally depend on subsidy, in contrast with some other electric vehicle types.
Another driving force according to the authors is hybrid electric vehicles, which reduce cost of ownership and exposure to fossil fuel price hikes. The group observed that hybrids increasingly perform better, have the ability to supply electricity to other equipment and produce less noise and pollution.
Read more about this new report at www.IDTechEx.com/icev and learn more about IDTechEx here.
Category: Electric Vehicles
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