Levelling-Up Construction Equipment With Electric Power
A guide to the electrification of construction equipment for manufacturers and their engineers.
Electrification is the future.
The global construction market is growing and is expected to increase rapidly over the next several years. In 2020, the market size was almost $140 billion USD and is projected to exceed $175 billion USD by 2025.
End users and original equipment manufacturers (OEMs) worldwide are seeking more energy-efficient and technologically savvy fleets that will enhance construction activities and reduce operating costs.
Additionally, it’s well documented that the construction market is a major driving factor of ozone emissions and a contributor to deteriorating air quality. To curb this trend, countries including Canada, the US, China, and those in the European Union are taking steps to reduce the effects of global warming through stricter emission regulations.
While future regulations may force manufacturers to transition all equipment to electric battery-powered systems, companies can get ahead of the curve and establish market leadership by electrifying their equipment and vehicles early.