Lucintel Forecasts the Global Electric Utility Vehicle Market to Reach $27.6 billion by 2030
Lucintel Forecasts the Global Electric Utility Vehicle Market to Reach $27.6 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global electric utility vehicle market looks promising with opportunities in the commercial transport, recreation, agriculture, and industrial applications. The global electric utility vehicle market is expected to reach an estimated $27.6 billion by 2030 from $21.2 billion in 2024, at a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are the growing demand for zero-emission vehicles, increasing availability of charging infrastructure, and rising demand for battery based material handling vehicles.
A more than 150-page report to understand trends, opportunity and forecast in electric utility vehicle market to 2030 by battery type (lead acid, lithium-ion, and others), drive type (2WD, 4WD, and AWD), propulsion (pure electric and hybrid electric), application (commercial transport, recreation, agriculture, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that single-element thermopile detectors is expected to witness higher growth over the forecast period due to low cost, smaller size, and easier to manufacture.
Within this market, industrial will remain the largest segment due to growing adoption of industry 4.0 and high demand for predictive maintenance.
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APAC is expected to witness highest growth over the forecast period due to high demand for miniature thermopile detectors in the industrial automation and consumer electronics sectors in this region.
Melexis, TE Connectivity, Honeywell, Murata, ROHM Semiconductor, Sensirion, Texas Instruments are the major suppliers in the electric utility vehicle market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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