Report: Electric vehicle market to reach $87B in 2028

By |  January 11, 2018

The IDTechEx report forecasts that more than 164,000 electric vehicles will be sold in 2028. Pictured is a Keestrack diesel-electric R5e crusher unit. Photo courtesy of Keestrack

A report from IDTechEx says electric vehicles for construction, agriculture and mining will be an $87 billion market in 2028, with more than 164,000 vehicles sold.

The report, titled “Electric Vehicles for Construction, Agriculture and Mining 2018-2028,” forecasts market growth, explaining how all-electric vehicles meet pollution laws and reduce costs. In addition, electric vehicles are required by law for indoor use.

The report details how mine operators will start using wind turbines and photovoltaics to power their operations. It also explains what new technologies are expected to emerge and why.

IDTechEx provides independent research, business intelligence and advice to companies across the value chain based on research activities and methodologies that provide data sought by business leaders, strategists and technology scouts.

Order the full report here.

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