Sustainability targets and the preference for lower equipment operation cost (and availability) ensure benefits across the global off-highway equipment value chain, as they encourage the adoption of alternative powertrains and electrification of equipment models.
• The various requirements for electrification, which include charging infrastructure, are growing and driving collaborations between Original equiment manufacturers (OEMs), suppliers, utility companies, and technology.
• OEMs and technology suppliers are increasingly adapting their powertrain portfolio to suit hybrid/fully electric equipment or even those specifically designed for net zero.
• Hybrid and electric powertrains in off-highway equipment are becoming popular because of the significant cost savings that they warrant.
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