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Electric Construction Equipment Market worth $26.10 billion by 2030, growing at a CAGR of 13.11% - Exclusive Report by 360iResearch
Electric Construction Equipment Market | 360iResearch
The Global Electric Construction Equipment Market to grow from USD 11.01 billion in 2023 to USD 26.10 billion by 2030, at a CAGR of 13.11%.
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Electric construction equipment refers to construction machinery that is powered by electricity by replacing traditional internal combustion engines. Electric construction equipment, including excavators, loaders, cranes, bulldozers, utilize batteries or electric power connections to operate. The major factors driving the transition toward electric construction machinery include stricter emission regulations, increasing awareness of environmental sustainability, the need for noise reduction in urban construction sites, and the long-term cost savings associated with reduced fuel consumption. However, electric construction equipment faces disadvantages such as limited battery capacity, longer recharging times compared to refueling, and a current lack of infrastructure for electric charging on many job sites. The industry is actively developing more efficient and longer-lasting battery technologies to address these limitations, rapid charging solutions, and expanding charging infrastructure. In the future, advancements such as improved energy density in batteries, integration with renewable energy sources, and autonomous electric construction vehicles are expected to further enhance the capabilities and attractiveness of electric construction equipment in the market.
In the Americas, especially North America, the emphasis on reducing carbon emissions and technological advancements has propelled the use of electric construction equipment. Market players are engaged in research and development (R&D), with the U.S. and Canada being home to pioneering companies pushing for electrification. In the APAC region, while nations, including China and Japan, are rapidly adopting electric technologies, driven by both policy incentives and growing environmental awareness, the overall adoption rate is inconsistent across the region's diverse economic stages. Production capabilities in APAC are strong, owing to substantial manufacturing infrastructure and technological fluency, though product penetration varies widely. The EMEA region shows a robust adoption curve for electric construction equipment, primarily due to stringent EU emissions regulations and a strong commitment to sustainability embodied in various directives and standards. European manufacturers lead in producing and exporting electric construction equipment, and the corporate scenario shows high collaboration among companies for technology sharing and joint ventures to advance the domain of electric construction equipment.
Market Segmentation & Coverage:
This research report categorizes the Electric Construction Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Equipment Type, market is studied across Electric Dozer, Electric Dump Truck, Electric Excavator, Electric Load-Haul-Dump Loader, Electric Loader, and Electric Motor Grader. The Electric Excavator commanded largest market share of 22.47% in 2023, followed by Electric Dozer.
Based on Battery Capacity, market is studied across 200-500 KwH, 50-200 KwH, more than 50 KwH, and less than 500 KwH. The 200-500 KwH commanded largest market share of 28.80% in 2023, followed by 50-200 KwH.
Based on Battery Type, market is studied across Lead-Acid and Lithium-Ion. The Lithium-Ion commanded largest market share of 53.07% in 2023, followed by Lead-Acid.
Based on Power Output, market is studied across 150-300 HP, 50-150 HP, more than 50 HP, and less than 300 HP. The 150-300 HP commanded largest market share of 33.82% in 2023, followed by 50-150 HP.
Based on Propulsion, market is studied across Battery-Electric and Hybrid-Electric. The Battery-Electric commanded largest market share of 63.02% in 2023, followed by Hybrid-Electric.
Based on Application, market is studied across Building Construction and Engineered Construction. The Building Construction is further studied across Commercial Buildings, Industrial Buildings, Institutional Buildings, and Residential Buildings. The Engineered Construction is further studied across Airports, Bridges, Highways, and Tunnels. The Building Construction commanded largest market share of 55.61% in 2023, followed by Engineered Construction.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.19% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Electric Construction Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Electric Construction Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Electric Construction Equipment Market, highlighting leading vendors and their innovative profiles. These include Action Construction Equipment Limited, Atlas Copco AB, Caterpillar Inc., CNH Industrial N.V., Dana Incorporated, Deere & Company, DEUTZ AG, Doosan Bobcat Inc., Dynapac Compaction Equipment AB by FAYAT SAS, Epiroc AB, Gammon Construction Limited, HD Hyundai Construction Equipment Co., Ltd., HİDROMEK, Hitachi, Ltd., J.C.Bamford Excavators Limited, Kobelco Construction Machinery Co., Ltd. by Kobe Steel, Ltd., Komatsu Ltd., Kubota Corporation, Laing O'Rourke, Liebherr-International Deutschland GmbH, Liugong Machinery Co., Ltd., Manitou BF, Multiquip Inc., Proterra Inc., Sany Heavy Industry Co., Ltd., Shantui Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Ltd., Takeuchi Mfg. Co. Ltd., Volvo Group, Wacker Neuson SE, and Xuzhou Construction Machinery Group Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Electric Construction Equipment Market, by Equipment Type
7. Electric Construction Equipment Market, by Battery Capacity
8. Electric Construction Equipment Market, by Battery Type
9. Electric Construction Equipment Market, by Power Output
10. Electric Construction Equipment Market, by Propulsion
11. Electric Construction Equipment Market, by Application
12. Americas Electric Construction Equipment Market
13. Asia-Pacific Electric Construction Equipment Market
14. Europe, Middle East & Africa Electric Construction Equipment Market
15. Competitive Landscape
16. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Electric Construction Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Electric Construction Equipment Market?
3. What is the competitive strategic window for opportunities in the Electric Construction Equipment Market?
4. What are the technology trends and regulatory frameworks in the Electric Construction Equipment Market?
5. What is the market share of the leading vendors in the Electric Construction Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Electric Construction Equipment Market?
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