Consumers aren’t the only ones moving toward electric vehicles. Waytek, Inc., which specializes in DC Power Distribution, partnered with OEM Off-Highway to conduct an industry-wide survey on the state of electrification in heavy-duty and off-road equipment.
Survey results showed the benefits of electric systems are clear, but factors such as cost, battery technology and infrastructure play a role in how companies research and adopt their own electric solutions.
“As electrification continues to permeate industrial verticals, we’ll need to work together across industries to tackle the challenges head on,” said Gary Christianson, Director of Marketing at Waytek. “Our survey shows several companies are taking steps to explore electrification, and given the complexity of the technology, it’s clear that the time to start researching is now.”
Perhaps the most obvious benefit of electrification is saving money on fuel, with 46% of survey respondents ranking long-term cost savings as the No. 1 benefit, the report indicates, although the exact savings are 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.
Battery technology lingers as the No. 1 challenge preventing the advancement of electrification. For electric-powered equipment to achieve widespread adoption, monumental improvements in timely recharging, duration of continuous operation and battery size need to be the focus of research.
"Given the complexity of the technology, it’s clear that the time to start researching is now." - Gary Christianson, Waytek, Inc.
The report acknowledges: "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."
Despite the challenges, 75% of survey respondents say their company either will or might take steps to pursue electrification in the next year, giving industry members a solid indication of where the market is headed. As companies continue to explore how electrification can supplement their current business models, gradual steps such as hiring new talent, allocating budget and developing hybrid prototypes will lead to big changes in the advancement of electrification.
Click here to read the full report.
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