Electric Construction Equipment Market Size:
The Electric Construction Equipment Market size was valued at USD 10.32 billion in 2023. It is expected to grow to USD 64.82 billion by 2032 and grow at a CAGR of 22.65% over the forecast period of 2024-2032.
The electric construction equipment market is experiencing significant growth, driven by a combination of environmental regulations, technological advancements, and economic benefits. Governments worldwide are enforcing stringent emission standards, compelling construction companies to adopt cleaner technologies, including electric machinery. The European Union aims to reduce net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, with a goal of achieving net-zero emissions by 2050.
Technological advancements, particularly in battery technology, have enhanced the viability of electric construction equipment. Improvements in energy density allow batteries to store more energy in smaller, lighter packages, extending operational periods and reducing downtime. Faster charging solutions and increased durability under harsh conditions further contribute to the efficiency and appeal of electric machinery.
Economically, electric construction equipment offers lower operating costs compared to traditional diesel-powered options. In mining operations, for example, the use of electric machinery can significantly reduce ventilation costs in underground environments, leading to substantial savings. Additionally, the decreasing costs of lithium-ion batteries make electric equipment more affordable and competitive. The market is also influenced by the increasing demand for low-noise construction activities in residential areas, as electric equipment operates more quietly than conventional machinery. This trend is particularly relevant in urban settings where noise pollution regulations are strict.
MARKET DYNAMICS
DRIVERS
Governments worldwide are enforcing stringent emission regulations, driving the adoption of zero-emission electric construction equipment to reduce the environmental impact of the industry.
Governments across the globe are enforcing stringent emission regulations to combat climate change and reduce greenhouse gas emissions. The construction industry, a significant contributor to carbon emissions, is under increasing pressure to adopt sustainable practices. Electric construction equipment, with its zero-emission capabilities, has emerged as a key solution to meet these regulatory requirements. Initiatives such as the Paris Agreement and country-specific zero-emission mandates are accelerating the shift from diesel-powered machinery to electric alternatives. These policies aim to minimize the environmental impact of construction activities, encouraging manufacturers and contractors to invest in cleaner technologies. Additionally, urban areas with strict emission zones are further driving the demand for electric construction equipment, as they provide an eco-friendly option for operating in such regulated environments. By aligning with these regulatory frameworks, the electric construction equipment market is poised for significant growth in the coming years.
RESTRAINT
The high upfront cost of electric construction equipment deters adoption, especially for budget-constrained small and medium-sized contractors.
Electric construction equipment often comes with a significantly higher upfront cost compared to traditional diesel-powered machinery. This cost disparity is primarily driven by the expense of advanced battery technology, electric drivetrains, and research and development efforts involved in manufacturing these machines. For small and medium-sized contractors, who often operate on tight budgets, the initial investment required for electric equipment can be a significant deterrent. While electric machinery offers long-term savings through lower fuel and maintenance costs, these benefits may not immediately outweigh the high acquisition cost, particularly for contractors with limited capital or short project timelines. Additionally, the limited availability of affordable financing options and subsidies in some regions exacerbates the challenge. As a result, many contractors remain hesitant to transition to electric equipment, opting instead for the lower-cost and widely available diesel alternatives, despite their environmental impact.
MARKET SEGMENTATION
By Type
Excavators segment dominated with the market share over 38% in 2023, due to their essential role in a wide range of construction tasks. These machines are commonly used for digging, trenching, material handling, and demolition, making them indispensable on construction sites. Their versatility and ability to handle heavy-duty tasks across various industries, such as infrastructure development, mining, and road construction, have made them a core component of construction fleets. As the demand for sustainable construction practices grows, the shift towards electric excavators is becoming more pronounced. Electric excavators offer significant advantages, including reduced emissions, lower operating costs, and quieter operation, making them more suitable for urban and environmentally conscious projects. The increased focus on reducing the carbon footprint of construction activities further strengthens the position of electric excavators in the market. As a result, this segment continues to lead in terms of both adoption and market share within the electric construction equipment sector.
By Battery Type
The Lithium-Ion battery segment dominated with the market share over 42% in 2023, due to its superior performance characteristics. Lithium-ion batteries offer a higher energy density, meaning they can store more energy in a smaller and lighter package, making them ideal for the heavy-duty requirements of construction machinery. This higher energy density translates into longer operational hours, reducing downtime and enhancing productivity. Additionally, lithium-ion batteries have a longer lifespan compared to alternatives like lead-acid batteries, resulting in fewer replacements and lower long-term operational costs. Their ability to charge faster is another key advantage, minimizing equipment downtime during charging cycles. These combined benefits make lithium-ion batteries the preferred choice for electric construction equipment, where efficiency, reliability, and cost-effectiveness are crucial.
KEY REGIONAL ANALYSIS
The Asia-Pacific region dominated with the market share over 32% in 2023, owing to factors such as rapid urbanization, increasing infrastructure development, and substantial government support for eco-friendly initiatives. Countries like China, Japan, and South Korea are at the forefront of adopting electric construction machinery. The region’s dominance is further fueled by technological innovations in electric vehicle technologies, as well as robust environmental policies that encourage the shift towards sustainable construction practices. These efforts aim to reduce emissions, enhance energy efficiency, and meet environmental targets, making Asia-Pacific a leader in the electric construction equipment industry.
North America is witnessing rapid growth in the electric construction equipment market, driven by the increasing adoption of electric vehicles (EVs) and construction machinery. This growth is fueled by stringent environmental regulations, a shift towards sustainability, and the rising demand for energy-efficient equipment. The U.S. and Canada, in particular, are leading this transition with substantial investments in electric construction machinery. Government incentives, regulatory pressures, and heightened environmental awareness among consumers and businesses are accelerating the adoption of electric equipment. This combination of factors is positioning North America as the fastest-growing region in the electric construction equipment sector.
Some of the major key players of the Electric Construction Equipment Market
Caterpillar Inc. (U.S.): (Cat 301.5 Electric Mini Excavator)
Komatsu (Japan): (PC30-7E0 Electric Mini Excavator)
AB Volvo (Sweden): (EC500 Electric Crawler Excavator)
Hitachi Construction Machinery Co., Ltd. (Japan): (ZX55U-6EB Electric Mini Excavator)
Deere & Company (U.S.): (John Deere 944K Hybrid Wheel Loader)
Sany Heavy Industry Co., Ltd. (China):(SY35U Electric Mini Excavator)
JCB (U.K.): (JCB 19C-1E Electric Mini Excavator)
HD Hyundai Infracore Co., Ltd. (South Korea): (HX85A Electric Crawler Excavator)
Kobelco Construction Machinery Co., Ltd. (Japan): (SK17SR-3E Electric Mini Excavator)
Liebherr (Switzerland): (Liebherr T 264 Electric Mining Truck)
Xuzhou Construction Machinery Group Co., Ltd. (China): (XCMG XE35U Electric Mini Excavator)
Yuchai Heavy Industry (China): (Yuchai Electric Wheel Loader)
Doosan Infracore (South Korea): (DX165W Electric Wheel Excavator)
CASE Construction Equipment (U.S.): (CASE 570N EP Tractor Loader)
Kubota Corporation (Japan): (Kubota U55-4 Electric Mini Excavator)
Terex Corporation (U.S.): (Terex TA300 Electric Articulated Dump Truck)
Manitou Group (France): (Manitou MT 625e Electric Telehandler)
Bobcat Company (U.S.): (Bobcat E165 Large Electric Excavator)
Sennebogen Maschinenfabrik GmbH (Germany): (Sennebogen 8170 E Electric Crawler Crane)
Wacker Neuson SE (Germany): (Wacker Neuson EZ17e Electric Mini Excavator)
Suppliers for (developing energy-efficient, zero-emission electric equipment, particularly excavators and dump trucks) on Electric Construction Equipment Market
Hitachi Construction Machinery
Caterpillar Inc.
Komatsu Ltd.
Volvo Construction Equipment
JCB
AILISHENG
Deere & Company
Kubota Corporation
Liebherr Group
Sany Group
RECENT DEVELOPMENT
In April 2024: Volvo Construction Equipment (Volvo CE) announced plans to launch the largest electric excavator in Japan, highlighting the company’s dedication to sustainability and innovation in construction machinery. This move is aimed at addressing the increasing demand for environmentally friendly equipment in the Japanese construction sector.
In March 2024: Sunstate Equipment Co., a subsidiary of Sumitomo Corporation, completed the full acquisition of Trench Shore Rentals, Inc., a prominent U.S. trench safety equipment rental company, with the goal of expanding their construction equipment business.
In October 2023: Nevada Gold Mines (NGM) formed a partnership with Komatsu Ltd. to acquire 62 Komatsu 930E-5 haul trucks over the course of 2023 to 2025, for use at the Carlin Complex and Cortez site in Nevada.
In September 2023: Albemarle Corporation and Caterpillar Inc. teamed up to advance sustainable mining technologies and operations. This partnership includes the deployment of Caterpillar battery-electric trucks and energy transfer solutions, with the aim of creating a zero-emissions lithium mine in North America and driving innovation for a more sustainable mining industry.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 10.32 billion |
| Market Size by 2032 | USD 64.82 billion |
| CAGR | CAGR of 22.65% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Excavators, Loaders, Cranes, Dozers, Others) • By Battery Type (Lithium Ion, Lead Acid, Others) • By Application (Construction, Mining, Material Handling, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Caterpillar Inc., Komatsu, AB Volvo, Hitachi Construction Machinery, Deere & Company, Sany Heavy Industry, JCB, HD Hyundai Infracore, Kobelco Construction Machinery, Liebherr, Xuzhou Construction Machinery Group, Yuchai Heavy Industry, Doosan Infracore, CASE Construction Equipment, Kubota Corporation, Terex Corporation, Manitou Group, Bobcat Company, Sennebogen Maschinenfabrik, Wacker Neuson SE. |
| Key Drivers | • Governments worldwide are enforcing stringent emission regulations, driving the adoption of zero-emission electric construction equipment to reduce the environmental impact of the industry. |
| Restraint | • The high upfront cost of electric construction equipment deters adoption, especially for budget-constrained small and medium-sized contractors. |
Ans: The Electric Construction Equipment Market is expected to grow at a CAGR of 22.65% during 2024-2032.
Ans: The Electric Construction Equipment Market was USD 10.32 billion in 2023 and is expected to Reach USD 64.82 billion by 2032.
Ans: Governments worldwide are enforcing stringent emission regulations, driving the adoption of zero-emission electric construction equipment to reduce the environmental impact of the industry.
Ans: The “Excavators” segment dominated the Electric Construction Equipment Market.
Ans: Asia-Pacific dominated the Electric Construction Equipment Market in 2023
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics
4.1 Market Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Manufacturing Output, by Region, (2020-2023)
5.2 Utilization Rates, by Region, (2020-2023)
5.3 Maintenance and Downtime Metrix
5.4 Technological Adoption Rates, by Region
5.5 Export/Import Data, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Electric Construction Equipment Market Segmentation, By Type
7.1 Chapter Overview
7.2 Excavators
7.2.1 Excavators Market Trends Analysis (2020-2032)
7.2.2 Excavators Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Loaders
7.3.1 Loaders Market Trends Analysis (2020-2032)
7.3.2 Loaders Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Cranes
7.4.1 Cranes Market Trends Analysis (2020-2032)
7.4.2 Cranes Market Size Estimates and Forecasts to 2032 (USD Billion)
7.5 Dozers
7.5.1 Dozers Market Trends Analysis (2020-2032)
7.5.2 Dozers Market Size Estimates and Forecasts to 2032 (USD Billion)
7.6 Others
7.6.1 Others Market Trends Analysis (2020-2032)
7.6.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Electric Construction Equipment Market Segmentation, By Battery Type
8.1 Chapter Overview
8.2 Lithium Ion
8.2.1 Lithium-Ion Market Trends Analysis (2020-2032)
8.2.2 Lithium-Ion Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Lead Acid
8.3.1 Lead Acid Market Trends Analysis (2020-2032)
8.3.2 Lead Acid Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Others
8.4.1 Others Market Trends Analysis (2020-2032)
8.4.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Electric Construction Equipment Market Segmentation, By Application
9.1 Chapter Overview
9.2 Construction
9.2.1 Construction Market Trends Analysis (2020-2032)
9.2.2 Construction Market Size Estimates and Forecasts to 2032 (USD Billion)
9.3 Mining
9.3.1 Mining Market Trends Analysis (2020-2032)
9.3.2 Mining Market Size Estimates and Forecasts to 2032 (USD Billion)
9.4 Material Handling
9.4.1 Material Handling Market Trends Analysis (2020-2032)
9.4.2 Material Handling Market Size Estimates and Forecasts to 2032 (USD Billion)
9.5 Others
9.5.1 Others Market Trends Analysis (2020-2032)
9.5.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.2.3 North America Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.2.4 North America Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.2.5 North America Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.6 USA
10.2.6.1 USA Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.2.6.2 USA Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.2.6.3 USA Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.7 Canada
10.2.7.1 Canada Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.2.7.2 Canada Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.2.7.3 Canada Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.2.8 Mexico
10.2.8.1 Mexico Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.2.8.2 Mexico Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.2.8.3 Mexico Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.1.3 Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.4 Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.5 Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.6 Poland
10.3.1.6.1 Poland Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.6.2 Poland Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.6.3 Poland Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.7 Romania
10.3.1.7.1 Romania Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.7.2 Romania Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.7.3 Romania Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.8.2 Hungary Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.8.3 Hungary Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.9.2 Turkey Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.9.3 Turkey Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.1.10.2 Rest of Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.1.10.3 Rest of Eastern Europe Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.3.2.3 Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.4 Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.5 Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.6 Germany
10.3.2.6.1 Germany Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.6.2 Germany Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.6.3 Germany Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.7 France
10.3.2.7.1 France Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.7.2 France Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.7.3 France Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.8 UK
10.3.2.8.1 UK Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.8.2 UK Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.8.3 UK Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.9 Italy
10.3.2.9.1 Italy Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.9.2 Italy Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.9.3 Italy Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.10 Spain
10.3.2.10.1 Spain Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.10.2 Spain Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.10.3 Spain Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.11.2 Netherlands Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.11.3 Netherlands Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.12.2 Switzerland Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.12.3 Switzerland Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.13 Austria
10.3.2.13.1 Austria Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.13.2 Austria Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.13.3 Austria Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.3.2.14.2 Rest of Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.3.2.14.3 Rest of Western Europe Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4 Asia-Pacific
10.4.1 Trends Analysis
10.4.2 Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.4.3 Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.4 Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.5 Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.6 China
10.4.6.1 China Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.6.2 China Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.6.3 China Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.7 India
10.4.7.1 India Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.7.2 India Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.7.3 India Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.8 Japan
10.4.8.1 Japan Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.8.2 Japan Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.8.3 Japan Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.9 South Korea
10.4.9.1 South Korea Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.9.2 South Korea Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.9.3 South Korea Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.10 Vietnam
10.4.10.1 Vietnam Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.10.2 Vietnam Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.10.3 Vietnam Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.11 Singapore
10.4.11.1 Singapore Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.11.2 Singapore Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.11.3 Singapore Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.12 Australia
10.4.12.1 Australia Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.12.2 Australia Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.12.3 Australia Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.4.13.2 Rest of Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.4.13.3 Rest of Asia-Pacific Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.1.3 Middle East Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.4 Middle East Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.5 Middle East Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.6 UAE
10.5.1.6.1 UAE Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.6.2 UAE Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.6.3 UAE Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.7.2 Egypt Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.7.3 Egypt Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.8.2 Saudi Arabia Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.8.3 Saudi Arabia Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.9.2 Qatar Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.9.3 Qatar Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.1.10.2 Rest of Middle East Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.1.10.3 Rest of Middle East Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.5.2.3 Africa Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.2.4 Africa Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.2.5 Africa Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.2.6.2 South Africa Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.2.6.3 South Africa Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.2.7.2 Nigeria Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.2.7.3 Nigeria Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.5.2.8.2 Rest of Africa Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.5.2.8.3 Rest of Africa Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Electric Construction Equipment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
10.6.3 Latin America Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.6.4 Latin America Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.6.5 Latin America Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.6 Brazil
10.6.6.1 Brazil Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.6.6.2 Brazil Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.6.6.3 Brazil Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.7 Argentina
10.6.7.1 Argentina Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.6.7.2 Argentina Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.6.7.3 Argentina Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.8 Colombia
10.6.8.1 Colombia Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.6.8.2 Colombia Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.6.8.3 Colombia Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Electric Construction Equipment Market Estimates and Forecasts, By Type (2020-2032) (USD Billion)
10.6.9.2 Rest of Latin America Electric Construction Equipment Market Estimates and Forecasts, By Battery Type (2020-2032) (USD Billion)
10.6.9.3 Rest of Latin America Electric Construction Equipment Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
11. Company Profiles
11.1 HD Hyundai Infracore Co., Ltd. (South Korea)
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Xuzhou Construction Machinery Group Co., Ltd. (China)
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Komatsu (Japan)
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Liebherr (Switzerland)
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Hitachi Construction Machinery Co., Ltd. (Japan)
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 AB Volvo (Sweden)
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Sany Heavy Industry Co., Ltd. (China)
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 JCB (U.K.)
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 Caterpillar Inc. (U.S.)
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Deere & Company (U.S.)
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Type
Excavators
Loaders
Cranes
Dozers
Others
By Battery Type
Lithium Ion
Lead Acid
Others
By Application
Construction
Mining
Material Handling
Others
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Terminal Automation Market size was estimated at USD 7.36 billion in 2023 and is expected to reach USD 10.66 billion by 2032 at a CAGR of 4.21% during the forecast period of 2024-2032.
The Hybrid Valve Market size was estimated at USD 1.26 billion in 2023 and is expected to reach USD 2.05 billion by 2031 at a CAGR of 6.3% during the forecast period of 2024-2031.
Air conditioning System Market was valued at USD 116.50 Bn in 2023 and is anticipated to touch to USD 285.65 Bn by 2032, at a CAGR of 10.50% by 2024-2032.
The Robotic Welding Market Size was valued at USD 7.0 billion in 2023 and is expected to reach USD 13.2 Bn by 2032, growing at a CAGR of 7.42% from 2024-2032.
The District Heating Market Size was valued at USD 182.06 Billion in 2023 and is now anticipated to grow USD 263.19 Billion by 2032, displaying a compound annual growth rate (CAGR) of 4.18% during the forecast Period 2024-2032.
The Oil and Gas Accumulators Market Size was esteemed at USD 2450.5 million in 2023 and is supposed to arrive at USD 4241.9 million by 2031 and develop at a CAGR of 7.1% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2025 All Rights Reserved by SNS Insider Pvt Ltd
