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Europe Electric Construction Equipment Market Report: Sales Expected to Reach 14.97 Thousand Units by 2029 - Arizton
Europe Electric Construction Equipment Market Research Report by Arizton
To Know More, Click: [https://www.arizton.com/market-reports/europe-electric-construction-equipment-market]
Report Summary
Market Size - Volume (2030): 14.97 Thousand Units
Market Size - Volume (2024): 3.72 Thousand Units
CAGR (2024-2030): 26.09%
Market Size - Revenue (2030): $1.9 Bn
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Equipment, Battery Capacity, Battery Chemistry, End User, and Geography
Geographic Analysis: Netherlands, Norway, Germany, United Kingdom, Sweden, France, and Others
European Electric Construction Equipment Market Gaining Momentum with Compact Machinery Adoption
The European electric construction equipment market is gaining momentum, particularly in the compact construction equipment segment. There is a sharp rise in demand for compact machines like mini excavators, wheel loaders, track loaders, and telehandlers, driven by their relatively simple electrification process. These machines have modest power requirements, making it easier to develop electric alternatives compared to larger equipment. Additionally, their compact size allows for indoor operation, such as in basements or during demolition, helping to reduce emissions and improve health conditions.
Electric construction equipment also offers a significant advantage in urban environments, especially residential areas, due to its lower noise levels compared to diesel machines. This makes them suitable for use in areas where construction work must be carried out with minimal disruption. The global adoption of battery-electric compact equipment is expected to surpass 10% by 2030, with regional variations. In Western and Northern Europe, the adoption rate is projected to reach around 23%. Mini excavators are expected to see a penetration rate of 15% by 2030, while compact track loaders and skid steers are projected to have a lower adoption rate of 5%. This shift towards electrification reflects the growing recognition of the environmental and operational benefits of electric construction machinery, contributing to the acceleration of market growth in Europe.
Geographic Analysis
Dutch legislation, including the Climate Act, Clean Air Agreement, and Climate Agreement, is driving efforts toward carbon neutrality by setting strict emissions targets and promoting electrification across sectors, including construction. The construction industry, impacted by nitrogen emissions, is transitioning to zero-emission machinery through initiatives like the Clean and Emission-free Construction (SSEB) program, which aims for a fully electric fleet by 2035. However, challenges such as high equipment costs, limited large-scale production, and insufficient charging infrastructure remain. Although interest and subsidies are increasing, contractors face uncertainties about long-term cost recovery. Under the SSEB program, electric construction machinery, including specific Volvo and Sennebogen models, can receive subsidies of up to 25-30% on additional costs compared to diesel machines.
Oslo, Norway, is leading the way in eliminating emissions from construction sites by 2030, with seven major Norwegian cities collectively aiming for a complete ban on construction site emissions by that year. By 2025, municipalities plan to shift to emission-free building operations, using machinery powered by hydrogen or electricity to reduce carbon emissions, as well as air and noise pollution. By 2030, all public and private construction activities in these cities are expected to be emission-free. Oslo's commitment is reflected in the forecast that over 18% of new excavators sold in 2024 will be electric, marking a significant step toward sustainable construction. A decade of experience in public procurement is expected to support the adoption of zero-emission machinery across the sector.
Recent Developments in Europe Electric Construction Equipment Market:
* Hitachi Construction Machinery collaborated with a Dutch charging equipment maker and Japanese trading house, Itochu, on mobile charging systems for construction sites in October 2023.
* North Volt secured a USD 5 billion non-recourse project funding to expand North Volt Ett, marking the largest green loan in Europe in January 2024.
* Volvo Group completed the acquisition of the battery business of US-based Proterra Inc. in February 2024 for USD 210 million.
* Urban Mobility Systems (UMS) and Ampowr confirmed a partnership in May 2023 to provide advanced energy storage systems to various sectors.
* In February 2024, ACC - Automotive Cells Company secured USD 4.7 billion to build four new gigafactories (battery manufacturing plants) in Europe.
* In collaboration with Gotion High-Tech, ABB signed an MoU in December 2023 to support the development of large-scale lithium-ion battery factories for the European and US EV markets.
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Europe Electric Construction Equipment Market Dynamics
Drivers
* Rise Of Fossil Fuel Free Construction Sites
* Sustainable Battery Manufacturing
* Increase In Low & Zero Emission Zones
Trends
* Demand For Sustainable Projects & Net-zero Building
* Increase Demand for Electric Wheel Loader
* High Electrification Rate in Compact Equipment
Restraints
* Lack Of Charging Infrastructure
* High Cost of Electric Construction Equipment
* Low Energy Density of Battery
Key Company Profiles
* Bobcat
* Caterpillar
* Volvo Construction Equipment
* Komatsu
* Hitachi Construction Machinery
* Liebherr
* JCB
* Kobelco
* HD Hyundai Construction Equipment
* Kubota
* Wacker Neuson
* John Deere
* SANY
* Xuzhou Construction Machinery Group (XCMG)
* Kramer
* Limach
* Schaffer
* Manitou
* MECALAC
* Yanmar
* SUNCAR
* Component Suppliers
* ABB
* Eaton
* Ecovolta
* Epiroc
* Instagrid GmbH
* North Volt
Market Segmentation
Equipment
* Excavators
* Wheel Loaders
* Backhoe Loader
* Dump Truck
* Telehandlers
* Aerial Platform
* Others
Battery Capacity
* Below 50 KWH
* 50 KWH -200 KWH
* 201 KWH- 500 KWH
* Above 500 KWH
Battery Chemistry
* Nickle Manganese Cobalt (NMC)
* Lithium Ferro Phosphate (LFP)
* Others
End User
* Construction
* Warehouse & Logistics
* Mining
* Others
Geography
Europe
* Netherlands
* Norway
* Germany
* United Kingdom
* Sweden
* France
* Others
Key Questions Answered in the Report:
How big is the Europe electric construction equipment market?
Who are the key players in the Europe electric construction equipment market?
What is the growth rate of the Europe electric construction equipment market?
What are the trends in the Europe electric construction equipment industry?
Which are the major component suppliers in the Europe electric construction equipment market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=europe-electric-construction-equipment-market-report-sales-expected-to-reach-1497-thousand-units-by-2029-arizton]
Phone: +1 3122332770
Country: United States
Website: https://www.arizton.com/market-reports/europe-electric-construction-equipment-market
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