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 global electric construction equipment market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the growing adoption of electric vehicles (EVs) and equipment to encourage the use of eco-friendly products, including compact electric construction equipment.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Electric Construction Equipment Market Report Segment
By Vehicle Type
- Excavators
- Loaders
- Cranes
- Others (Forklift)
By Battery
- Lithium Ion
- Lead Acid
By End User
- Residential
- Construction
- Industrial
Global Electric Construction Equipment Market Report Segment by Region
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
- Latin America
- Middle East & Africa
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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