Interact Analysis has published an analysis of the market for battery packs for off-highway EVs, and found that Hamburg-based material handling company Jungheinrich has by far the largest market share in the category.
Jungheinrich led the market-share rankings for battery packs for loaders, telehandlers, excavators and tractors in Europe/Middle East and the Americas.
According to the report, most of Jungheinrich’s sales are confined to several customers in the construction industry that also happen to ship higher-than-average numbers of battery-electric vehicles. The company does not offer products suitable for larger, high-voltage off-highway equipment.
The report identified some 20 companies active in the sector, a figure that shows growth in the off-highway sector, given that the number was in the low single digits not too long ago. At the top, following Jungheinrich, were BorgWarner, Forsee Power, Turntide, Volvo and Wamtechnik.
Compared to off-highway vehicle sales overall, it is still early days for the sales of electric vehicles. According to Interact Analysis, the current cost of battery packs is a key reason why this is the case, and sales will likely only increase in a meaningful way when the price of an off-highway EV is down to 1.5 times the price of its fossil fuel-powered equivalent, versus the current two times.
Source: Interact Analysis
