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U.S. Electric Construction Equipment Market Analysis 2030 - Sales to Hit 1.94 Thousand Units in the Upcoming Years - Arizton
U.S. Electric Construction Equipment Market Research Report by Arizton
Looking for More Information? Click: [https://www.arizton.com/market-reports/us-electric-construction-equipment-market]
Report Scope:
Market Size - Volume (2030): 1.94 Thousand Units
Market Size - Volume (2024): 441 Units
CAGR (2024-2030): 28.06%
Market Size Revenue (2030): USD 541.4 Million
Historic Year:2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Equipment, Battery Capacity, Battery Chemistry, and End User
In 2024, the US market saw significant growth in the demand for electric construction equipment, particularly in the compact equipment segment. This segment, which includes mini excavators, compact wheel loaders, and track loaders, has the highest electrification rate at around 21%. The high electrification rate is due to the simpler, less complex structure of compact equipment, making it easier to develop electric alternatives. Additionally, these machines have modest power demands, making them more suitable for electrification compared to larger equipment. The compact size of these machines allows for indoor operation, reducing emissions and improving health conditions, especially in confined spaces like basements or during demolition. Furthermore, electric equipment produces less noise than diesel models, making them ideal for urban construction projects, particularly in residential areas. The global adoption of battery-electric compact equipment is expected to reach over 10% by 2030, with construction equipment weighing under 10 tons seeing the highest electrification rate in the US.
Recent Developments in the U.S. Electric Construction Equipment Market
* In 2024, Case Construction Equipment launched its new compact electric wheel loader 12EV in the North American market, including the United States. The machine offers a 23kWh cobalt-free, lithium-ion battery with a payload of 1.15 tons.
* Case Construction also launched an electric backhoe loader, Case 580EV, in the North American market in 2024.
* Volvo Construction Equipment expanded its electric lineup in North America with a new mid-size electric wheel loader L 120 & excavator & new generation EC230 electric excavator in 2024.
* Caterpillar signed a strategic agreement with CRH, a leading building material solution provider in the U.S., for electric trucks and charging solutions in 2024.
* Bobcat introduced a new electric compact track loader at Equip Expo 2024 in Louisville, Kentucky, in the United States.
Geographical Analysis
Key Infrastructure Initiatives in California and Texas (FY 2023-2024)
California's Transportation Infrastructure Expansion In FY 2023-2024, California allocated $16.1 billion to expand transportation infrastructure, including investments in roadways, bridges, public transit, and active transportation like bike lanes and sidewalks. Additionally, Senate Bill 1 (SB 1) passed in June 2023 secured an extra $1.7 billion through competitive grant programs for trade corridors, congested routes, and local collaborations. Notable ongoing projects include the California High-Speed Rail (CHSR) Phase 1, connecting Merced to Bakersfield, expected to complete by 2029, and the Los Angeles Metro Crenshaw/LAX Line, slated for completion in 2027. The Bay Bridge Forward Seismic Retrofit Project, which enhances seismic resilience, is anticipated to be completed by 2030.
Texas Infrastructure Fund and Major Projects In November 2023, Texas voters approved three constitutional amendments, establishing $7.5 billion for infrastructure, with allocations for water, broadband, and dispatchable energy projects, including natural gas power plants. The I-35E Expansion in Dallas, valued at $7.5 billion, involves adding tolled lanes, enhancing existing lanes, and constructing new interchanges. The project began in 2022, with Phase 1 expected to finish by 2028. In West Texas, the Western Solar Fields and Storage project, a major solar photovoltaic farm with battery storage, is set to contribute clean energy to the grid and is expected to conclude in stages by 2024.
U.S. Electric Construction Equipment Market Dynamics
Drivers
* Rise of construction sites free of fossil fuel
* Sustainable battery manufacturing
* Favorable government initiatives & policies
Trends
* Demand for sustainable projects and net-zero buildings
* Increased demand for sustainable mining activities
* High electrification rate in compact equipment
Looking for More Information? Click: [https://www.arizton.com/market-reports/us-electric-construction-equipment-market]
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
* CASE Construction Equipment
* Manitou
* MECALAC
* Yanmar
* Takeuchi Manufacturing Co., Ltd.
* DEVELON
* LiuGong
* HEVI
Component Suppliers
* ABB
* Eaton
* American Battery Solutions
* Ecovolta
Market Segmentation
Equipment
* Excavators
* Wheel Loaders
* Backhoe Loader
* 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
What Key Findings Will Our Research Analysis Reveal?
How big is the U.S. electric construction equipment market?
What is the growth rate of the U.S. electric construction equipment market?
Who are the key players in the U.S. electric construction equipment market?
Which are the major component suppliers in the U.S. electric construction equipment market?
What are the trends in the U.S. electric construction equipment market?
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https://www.arizton.com/market-reports/us-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=us-electric-construction-equipment-market-analysis-2030-sales-to-hit-194-thousand-units-in-the-upcoming-years-arizton]
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Country: United States
Website: https://www.arizton.com/market-reports/us-electric-construction-equipment-market
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