Edit
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Electric Construction Equipment Market to reach USD xx billion by the end of 2030

Global Electric Construction Equipment Market Size study & Forecast, by Vehicles (Excavators, Loaders, Cranes, Others), by Battery (Lithium-Ion, Lead Acid, Others), by End Use (Residential, Construction, Industrial) and Regional Analysis, 2023-2030

Product Code: OIRIA-40251760
Publish Date: 20-01-2024
Page: 200

Global Electric Construction Equipment Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% during the forecast period 2023-2030. Electric construction equipment refers to machinery and vehicles used in the construction industry that are powered by electricity rather than traditional internal combustion engines. The Electric Construction Equipment Market is expanding because of factors such as rapid urbanization and the growing number of smart city projects. This equipment typically relies on electric motors for propulsion and other essential functions. These electric motors can be powered by batteries, which store and supply electrical energy. As a result, the demand for Electric Construction Equipment has progressively increased in the international market during the forecast period 2023-2030.

Urban areas often face challenges related to air quality and sensitive towards noise pollution, so electric construction equipment, with its lower or zero emissions compared to traditional diesel machinery, becomes an attractive option for urban construction projects aiming to reduce environmental impact. According to Statista, the global rate of urbanization accounts for 57% in 2022. North America had the highest amount of urbanization, with more than four-fifths of the population living in urban areas. Furthermore, in 2020, cities and urban areas inhabited around 82.66% of the overall population in the United States. Another important factor that drives the Electric Construction Equipment Market is the increasing number of smart city projects. Smart city projects often involve extensive infrastructure development, including the construction of smart buildings, efficient transportation systems, and advanced utilities. This increased construction activity creates a higher demand for construction equipment, including electric variants. In addition, as per Statista, Smart infrastructure is the largest segment of the global Smart City Market, with global revenues reached up to USD 70 billion in 2021. This represents a near 55% market share for smart infrastructure in the worldwide Smart City Market. Moreover, the emergence of hydrogen-powered construction equipment and rising demand for low-noise construction activities in residential areas are anticipated to create lucrative growth opportunities for the market over the forecast period. However, higher initial costs than conventional ICE equipment and complex charging infrastructure for electric construction machinery are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Electric Construction Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising number of dam-building projects, the real estate industry, commercial and residential complexes, and the growth of rail and road infrastructure in the region. The region’s dominant performance is anticipated to propel the overall demand for Electric Construction Equipment. Furthermore, North America is expected to grow fastest over the forecast period, owing to factors such as increasing awareness about electrification and environmental protection measures that are expected to drive the electric construction equipment in the region.

Major market player included in this report are:

Caterpillar Inc
Volvo Construction Equipment
Hitachi Construction Machinery Co., Ltd
Komatsu Ltd
Deere & Company
J.C. Bamford Excavators Limited
Doosan Infracore Co., Ltd
Kobelco Construction Machinery Co., Ltd
Liebherr Group
Sany Heavy Industry Co., Ltd

Recent Developments in the Market:
Ø In December 2023, Volvo Construction Equipment introduced its latest electric machinery, the EC55 electric compact excavator, targeting the Indian market. This electric excavator boasts an impressive operational capacity, capable of sustaining a full six to eight-hour shift on a single charge. To facilitate efficient charging, users have the flexibility to choose between AC and DC charging options. The DC fast charging option allows the machine to achieve a full charge within a speedy one to two hours, while the AC charging option conveniently enables overnight charging.

Global Electric Construction Equipment Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vehicles, Battery, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicles
Excavators
Loaders
Cranes
Others

By Battery
Lithium-Ion
Lead Acid
Others

By End Use
Residential
Construction
Industrial

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Electric Construction Equipment Market, by Region, 2020-2030 (USD Billion)
1.2.2. Electric Construction Equipment Market, by Vehicles, 2020-2030 (USD Billion)
1.2.3. Electric Construction Equipment Market, by Battery, 2020-2030 (USD Billion)
1.2.4. Electric Construction Equipment Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Electric Construction Equipment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Electric Construction Equipment Market Dynamics
3.1. Electric Construction Equipment Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rapid urbanization
3.1.1.2. Growing number of smart city projects
3.1.2. Market Challenges
3.1.2.1. Higher initial cost than conventional ICE equipment
3.1.2.2. Complex charging infrastructure for electric construction machinery
3.1.3. Market Opportunities
3.1.3.1. Emergence of hydrogen-powered construction equipment
3.1.3.2. Rising demand for low-noise construction activities in residential areas
Chapter 4. Global Electric Construction Equipment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Electric Construction Equipment Market, by Vehicles
5.1. Market Snapshot
5.2. Global Electric Construction Equipment Market by Vehicles, Performance – Potential Analysis
5.3. Global Electric Construction Equipment Market Estimates & Forecasts by Vehicles 2020-2030 (USD Billion)
5.4. Electric Construction Equipment Market, Sub Segment Analysis
5.4.1. Excavators
5.4.2. Loaders
5.4.3. Cranes
5.4.4. Others
Chapter 6. Global Electric Construction Equipment Market, by Battery
6.1. Market Snapshot
6.2. Global Electric Construction Equipment Market by Battery, Performance – Potential Analysis
6.3. Global Electric Construction Equipment Market Estimates & Forecasts by Battery 2020-2030 (USD Billion)
6.4. Electric Construction Equipment Market, Sub Segment Analysis
6.4.1. Lithium-Ion
6.4.2. Lead Acid
6.4.3. Others
Chapter 7. Global Electric Construction Equipment Market, by End Use
7.1. Market Snapshot
7.2. Global Electric Construction Equipment Market by End Use, Performance – Potential Analysis
7.3. Global Electric Construction Equipment Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
7.4. Electric Construction Equipment Market, Sub Segment Analysis
7.4.1. Residential
7.4.2. Construction
7.4.3. Industrial
Chapter 8. Global Electric Construction Equipment Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Electric Construction Equipment Market, Regional Market Snapshot
8.4. North America Electric Construction Equipment Market
8.4.1. U.S. Electric Construction Equipment Market
8.4.1.1. Vehicles breakdown estimates & forecasts, 2020-2030
8.4.1.2. Battery breakdown estimates & forecasts, 2020-2030
8.4.1.3. End Use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Electric Construction Equipment Market
8.5. Europe Electric Construction Equipment Market Snapshot
8.5.1. U.K. Electric Construction Equipment Market
8.5.2. Germany Electric Construction Equipment Market
8.5.3. France Electric Construction Equipment Market
8.5.4. Spain Electric Construction Equipment Market
8.5.5. Italy Electric Construction Equipment Market
8.5.6. Rest of Europe Electric Construction Equipment Market
8.6. Asia-Pacific Electric Construction Equipment Market Snapshot
8.6.1. China Electric Construction Equipment Market
8.6.2. India Electric Construction Equipment Market
8.6.3. Japan Electric Construction Equipment Market
8.6.4. Australia Electric Construction Equipment Market
8.6.5. South Korea Electric Construction Equipment Market
8.6.6. Rest of Asia Pacific Electric Construction Equipment Market
8.7. Latin America Electric Construction Equipment Market Snapshot
8.7.1. Brazil Electric Construction Equipment Market
8.7.2. Mexico Electric Construction Equipment Market
8.8. Middle East & Africa Electric Construction Equipment Market
8.8.1. Saudi Arabia Electric Construction Equipment Market
8.8.2. South Africa Electric Construction Equipment Market
8.8.3. Rest of Middle East & Africa Electric Construction Equipment Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Caterpillar Inc
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Volvo Construction Equipment
9.3.3. Hitachi Construction Machinery Co., Ltd
9.3.4. Komatsu Ltd
9.3.5. Deere & Company
9.3.6. J.C. Bamford Excavators Limited
9.3.7. Doosan Infracore Co., Ltd
9.3.8. Kobelco Construction Machinery Co., Ltd
9.3.9. Liebherr Group
9.3.10. Sany Heavy Industry Co., Ltd
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now