IDTechEx: making the case for off-road EVs

By William Girling
Market researcher IDTechEX has published a new report exploring the potential use of EVs in the construction, agriculture and mining (CAM) industry. De...

Market researcher IDTechEX has published a new report exploring the potential use of EVs in the construction, agriculture and mining (CAM) industry.

Describing the market as a substantial opportunity for transformation, the report opines that, whilst some CAM vehicle manufacturers (Caterpillar, John Deere, Komatsu, etc) are cautiously moving towards EVs, they should take more notice of nimble startups using the latest tech.

“They should learn from the startups and the Tier One suppliers plunging into the world of precision farming, drones, swarming robots and the moveable zero-emission microgrids to charge them,” said Raghu Das, CEO of IDTechEX. 

Describing a vision of the future

Containing an executive summary and conclusions, introductions to CAM EVs currently available, suggested methods for implementation and an industry-by-industry examination of key companies, the report offers a comprehensive vision for the future. 

Discussed are the reasons for taking action (pollution, pursuing greater efficiencies, etc) and presenting ideas for how CAM’s further automation can be achieved using robotics. Exploring a 10 year period (2020 to 2030), IDTechEX also includes data on pricing parity of EVs to diesel models year-by-year. 

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“Coping with tougher locations, tougher pollution regulation and lack of staff are part of the new CAM reality, but it is being solved by plenty of investment, radically new technology and strong demand for both new vehicles and moveable zero-emission sun/ wind/ water microgrids to charge them, all addressed in the report,” stated Das. 

“This is the opposite of the perfect storm faced by the car industry. This is an ‘idea whose time has come’.”

IDTechEX’s report seemingly coalesces on a single idea: with proper investment and utilisation of evolving technology, the off-road EV market could grow to rival the modern car industry, which is undergoing a similar transformation towards electrically-powered vehicles. 

Cummins and Dana Corporation are making many shrewd acquisitions while exiting yesterday’s technologies. CAM giants doing the same instead of defending dying diesel genset and vehicle businesses can grow past $100 billion in ten years, overtaking shrinking car companies in the process. This industry awaits a Tesla or VW in commitment to EVs.

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