Overview

Electrification in the construction and mining industry has grown significantly in recent years, with the global industry size of original equipment manufacturers reaching $241.2 billion in 2023. Unit sales in electric and hybrid models reached 59,909 units in 2023, and Frost & Sullivan projects a 16.5% compound annual growth rate (CAGR), reaching 376,142 units in 2035. Factors driving the industry growth include government incentives, application versatility, technological advancements (e.g., improved energy density and long battery lifecycle), regulations, and cost-efficiency improvements in electric vehicles in the coming years.

• How can your company adopt best practices, thrive amidst increased competition, and leverage technological advancements to achieve growth?
• Which growth opportunities are emerging due to the rise of sustainable and efficient vehicles and an increasing focus on reducing emissions and improving fuel efficiency?
• How can your team grow by capitalizing on major innovations in battery and energy storage systems, thermal management systems, distribution units, battery swapping strategies, and charging infrastructure?

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