Electrification of heavy-duty equipment is on the rise and it’s a trend that’s here to stay – at least for the foreseeable future. We partnered with OEM Off-Highway to conduct a first-hand survey of trends and sentiment around electrification in off-road equipment. Read on to see highlights of the study or dive into the full report here.
Number of survey respondents who believe the trend of electrificaiton is more popular this year than last year.
Number of repondents who said their company either will or might take steps to pursue electrification in the next year.
The number of respondents who believe electric-powered equipment will eventually become more prominent than fuel-powered equipment
The timespan estimated for electric powered equipment to become more prominent than fuel-powered equipment
Industry predicted for growth
truck, bus, or municipal transportation
Waytek’s inaugural research shows companies are interested in exploring how the trend of incorporating more electric systems can supplement their current business models. While it’s unlikely that electrification will become the main power source for equipment in the next decade, it’s clear that the time to prepare for a future with electrification is now.
We analyzed 315 responses collected over a one-month period ranging from industry members who were self-employed to working in companies with more than 1,000 employees. Respondents work in a mix of common industries that use heavy-duty equipment and represent various levels of hierarchy within their companies.
Perhaps the most obvious benefit is saving money on fuel with 46% of survey respondents ranking long-term cost savings as the No. 1 benefit - although the exact savings is difficult to pinpoint because factors vary greatly between applications. In addition, the cost of maintenance and repairs is lower since the systems in electric vehicles are far less complex than their combustion engine counterparts.
Electrification faces tangible limitations such as battery storage and charging issues, in addition to intangible limitations such as the willingness of the industry to change, or companies seeing electrification as a value add not necessary for their businesses.
The limitations to electrification are taxing, but the only way to get through them is to tackle them head on.
“Look - it's not about whether or not electrification can compete from a performance perspective, because it most certainly can. The trick is going to be both storing such volumes of energy efficiently within the confines of the vehicle, and replenishing these energy reserves (refueling) by readily available means.”
- Manager/Owner in towing, relocation, recovery and repair