According to a new report, titled, “Off-highway Electric Vehicles Market Insights, Trends, Opportunity & Forecast, 2020–2025,” Off-highway Electric Vehicles market size is anticipated to at a witness single digit growth during forecast period i.e. 2020-2025.
The intermediate in the hydrometallurgical purification of cobalt from its ores is cobalt carbonate, an inorganic chemical that is a reddish paramagnetic solid. In cold and hot water, it is insoluble, but in acids, it dissolves. Spherocobaltite, a rare red/pink mineral containing cobalt carbonate, is found naturally. Cobalt carbonyl and numerous cobalt salts are formed from it. Cobalt is utilized in blue ceramic glazes and is a component of nutritional supplements because it is an essential element.
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The global Off-highway Electric Vehicles market is predicted to develop due to the use of Off-highway Electric Vehicles in paints, plating chemicals, and catalysts. Furthermore, alloys, catalysts, pigments, magnets, and soaps all need cobalt carbonate. It's utilized as a dietary supplement because it's a necessary component for good health. Off-highway Electric Vehicles is also frequently utilized as a cathode material in batteries, cars, and electronic gadgets. Due to the alloy's excellent heat resistant qualities, it's also employed in the repair of alloys used in jet engines.
COVID-19's Effects
Over the last 18 months, almost every industry on the planet has suffered a setback. This is due to major disruptions in their manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other restrictions imposed by governments around the world. The global Off-highway Electric Vehicles market is no exception. Furthermore, consumer demand has decreased as people have been more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been badly impacted by the outbreak. The revenue trajectory of the worldwide Off-highway Electric Vehicles market is likely to be hampered by the aforementioned factors throughout the forecast period. The global Off-highway Electric Vehicles market, on the other hand, is predicted to rebound as separate regulatory bodies begin to relax these imposed restrictions.
The report investigates North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. With growing demand in emerging economies such as India and China, the Asia-Pacific region has the greatest proportion of the Off-highway Electric Vehicles market. Due to its rising applications in the vehicle sector, Europe is a close second. In the foreseeable future, North American and Latin American markets are expected to see significant expansion.
Global Off-highway Electric Vehicles market analysed across different geographies i.e. North America (U.S. & Canada), Europe (Germany, United Kingdom, Italy, Spain, Russia, France and Rest of Europe), Asia Pacific (China, India, Japan, Indonesia, Taiwan, South Korea, Australia, New Zealand), Latin America (Brazil, Mexico, Argentina) & Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa).
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Market Segmentation
By Power Output:
- <50 HP
- 50-150 HP
- 150-300 HP
- >300 HP
By Battery Capacity:
- <50 Kwh
- 50-200 Kwh
- 200-500 Kwh
- >500 Kwh
By Propulsion Type:
- Battery Electric
- Hybrid Electric
By Battery Type
- Lithium- ion
- Nickel Metal Hydride
- Lead- Acid
- Others
By Equipment:
- Dump Truck
- Dozer
- Excavator
- Motor Grader
- Lhd
- Loader
- Lawn Mower
- Sprayer
- Tractor
By Application:
- Mining
- Construction
- Agriculture
- Gardening
- Landscaping
- Others
Companies Profiled in Report
Some of the key players major Off-highway Electric Vehicles market companies profiled in the report include:
- Volvo Construction Equipment (Volvo CE)
- Deere & Company
- Sandvik AB
- Hitachi Construction Machinery Co. Ltd.
- Epiroc AB
- Kubota Corporation
- Duetz AG
- Doosan Corporation
- Atlas Copco
- Sumitomo Heavy Industries
- Terex
- Stihl Holding AG and Co.
- Liebherr Group
- Caterpillar
- J C Bamford Excavators Ltd.
- CNH Industrial N.V.
- Komatsu
- JCB
- Other Players
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