What Growth Opportunities Are Arising from the Off-Highway Electric and Autonomous Retrofit Industry?
Off-highway (OHW) retrofit solutions are driving transformational growth due to ease of installation and new business models
Overview
The OHW industry has always relied on retrofit solutions to prolong equipment life cycles, meet emission standards, and improve operating efficiency. During the past decade, several developments have happened in OHW retrofit solutions. The increasing cost of new retail equipment is breaking entry barriers for start-ups offering application-specific retrofits. Collaborations between Tier 1 companies and start-ups allow battery-electric retrofit solutions to enter the industry, letting operators convert conventional OHW machines into zero-emission equipment.
This is giving rise to start-ups offering hybrid, battery-electric, and hydrogen fuel cell electric retrofit solutions catering to construction, mining, and agricultural applications. Though the industry is at a nascent stage, the push toward decarbonization initiatives will likely drive significant short to medium-term growth for electric retrofits. Autonomous retrofits have gained traction since 2015, with start-ups partnering with OEMs, contractors, and key stakeholders in the industry. Collaborations between LiDAR system providers and software platform providers have allowed construction firms and farmers to run pilots fitting conventional equipment with autonomous kits.
- How do collaborations between Tier 1 companies and start-ups drive innovation and expand the industry for electric retrofits?
- How can your company stay competitive in the rapidly evolving landscape for hybrid, battery-electric, and hydrogen fuel cell retrofit solutions?
- What role do regional investments and policies play in accelerating the adoption of electric and autonomous retrofit solutions?
Quick links
Click here to download the sample of this analysis
Already a member? Click here to access the analysis
Frost Honorarium Program
Unlock a $1,000 Incentive with a Complimentary Growth Dialog
Engage with our industry experts for a discussion to explore new growth opportunities for your business.
As a token of appreciation, you will receive a $1,000 honorarium—redeemable towards any of our products or services.
Request More Information
Sign up for a complimentary Growth Pipeline Dialog™
A Growth Pipeline Dialog is a structured discussion with our growth experts providing unparalleled technology intelligence and proven implementation best practices. This discussion will spark innovative thinking and help generate a pipeline of growth opportunities you can leverage to maximize your company’s future growth potential.
