Electric construction equipment market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). The growing adoption of battery-driven loaders with the improving cleaner air, less noise and less heat is the key factor supporting the growth of the market globally. Battery-powered electric construction equipment machines are a great solution to work more sustainably while maintaining optimum productivity. The market players are also focusing on introducing battery-powered electric construction equipment solutions that further bolster the market growth. For instance, in September 2021, Sandvik AB and Rock Solutions introduced a new electric equipment range. Sandvik introduced Toro™ LH514BE, an AutoMine® compatible cable-lectric loader, boosted with innovative battery technology.
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The major companies serving the global electric construction equipment market include AB Volvo, Caterpillar Inc., Doosan Corp., John Deere Group, Komatsu Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2021, Komatsu and Proterra collaborated to develop all-electric construction equipment. The collaboration represents Proterra’s entry into the off-road vehicle market and the company’s first Proterra Powered™ battery-electric construction equipment.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Electric Construction Equipment Market by Vehicle Type
- Excavators
- Loaders
- Cranes
- Others (Forklift)
Global Electric Construction Equipment Market by Battery
- Lithium-Ion
- Lead Acid
Global Electric Construction Equipment Market by End-Users
- Residential
- Construction
- Industrial
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB Ltd.
- Bell Equipment Group
- BigRentz, Inc.
- Bobcat Co.
- BYD Motors Inc.
- CNH Industrial America LLC.
- Electric Construction Equipment B.V
- Epiroc AB
- Hitachi Construction Machinery Co., Ltd.
- J C Bamford Excavators Ltd.
- John Deere Group
- Komatsu Ltd.
- Liebherr-International Deutschland GmbH (Liebherr Group)
- Liugong Machinery Co., Ltd.
- Sandvik AB
- SUNCAR AG
- Wacker Neuson SE
- XCMG Group
- solutions B.V.
- Zoomlion Heavy Industry Science&Technology Co., Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric construction equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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