The global electric construction equipment market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of advanced technologies such as autonomous and electric driving the demand for electric construction equipment. Pivotal factors such as the rising global construction activities and government focus on infrastructure development to support the rapid growth of the electric construction equipment market.
Browse the full report description of “Electric Construction Equipment Market Size, Share & Trends Analysis Report by Vehicle Type (Excavators, Loaders, Cranes and Others), by Battery (Lithium Ion and Lead Acid), and by End User (Residential, Construction and Industrial), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/electric-construction-equipment-market
In the automobile industry, autonomous and electric are the two technologies in the construction equipment industry with improved digital features and technologies, such as MaxControl, a remote-control system in unmanned electric loaders. For instance, in March 2023, Doosan Corp. launched two concept loaders and various lineups of electric excavators. Doosan Bobcat introduced the ‘RogueX,’ a concept loader that embodies the future technology that the company aims to develop. The RogueX, an unmanned electric loader, attracted a lot of audiences with its innovative cab-less design.
Various market players by equipping a high-capacity lithium-ion battery and integrating a cooling system for the battery accumulate customer feedback and knowledge and promote the formation of the electrification market. For instance, in December 2023, Komatsu Europe International N.V. launched 13-ton class PC138E-11 electric excavator equipped with a lithium-ion battery to the domestic market as a rental machine.
To help ensure the electric construction equipment stays up and running as it should. Lessees have the option to bring construction equipment into their dealer location for maintenance or have a dealer come to them. For instance, in October 2022, Volvo CE launched a new all-inclusive lease for electric equipment. This all-inclusive leasing package bundles charging, maintenance, repairs, and more while also providing a better deal compared with items purchased separately.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Component
o By Communication Technology
o By Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes AB Volvo, Caterpillar Inc., Doosan Corp., John Deere Group, Komatsu Ltd., and others.
Key questions addressed by the report
Global Electric Construction Equipment Market Report Segment
By Vehicle Type
By Battery
By End User
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
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