The European off-highway electric vehicle (OHEV) market is experiencing significant growth, forecasted to surge from $1.39 billion in 2024 to $13.78 billion by 2034, driven by a compound annual growth rate (CAGR) of 25.76%. This expansion is fueled by the increasing adoption of electric equipment across mining, construction, and agriculture due to stringent EU emissions regulations and climate objectives. Developments in battery technology, charging infrastructure, and supportive government incentives further enhance the appeal of electric vehicles, positioning them as crucial players in the region’s sustainable mobility shift. Key players in this market include well-known manufacturers such as AB Volvo, CNH Industrial, and Liebherr Group.
In other market news, NIO was a standout up 6% and finishing the session at $3.69. At the same time, Modine Manufacturing softened, down 6.1% to end trading at $92.65.
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Companies discussed in this article include NYSE:NIO NasdaqGS:TSLA SEHK:1211 and NYSE:MOD.
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