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Electric Vehicles Update - European Off-Highway Market Gears Up For Massive Electric Growth

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...