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The market for compact electric construction equipment was valued at USD 50,499.4 million in 2022, and from 2023 to 2030, it is projected to expand at a CAGR of 13.9%. The need for greater infrastructure, such as homes, schools, hospitals, stadiums, office buildings, and airports, is being driven by the rapid urbanisation of developing nations. For instance, the Indian government declared in 2019 that it would invest USD 1.4 trillion in infrastructure projects between 2019 and 2023.
This shows that there is a growing need for small construction equipment in the nation. Furthermore, warehouse managers are placing more attention on forklifts such pallet jacks and stand-up riders since they are effectively made to handle high weights and can be flexible at greater heights. It is projected that the strategy taken by warehouse owners to reduce operational expenses and improve transparency within the warehouse will fuel demand for compact electric construction equipment.
Compact electric construction equipment is becoming more and more in demand, which can be due to both a noteworthy rise in worldwide building activity and strict environmental restrictions. Governments are also concentrating on building infrastructure to enable rapid growth. As a result, the demand for compact machinery that can operate in confined locations, is portable, and has low maintenance and operating expenses is increasing exponentially. The growth of the global market for small electric construction equipment is anticipated to be aided by this factor. Additionally, businesses that rent out construction equipment are growing quickly. To save the costs of acquiring and maintaining the equipment, customers frequently choose to rent construction equipment. Many manufacturers of construction equipment, such as Mitsubishi Corporation, Komatsu Ltd, and Hyundai Construction Co., Ltd, have begun collaborating with rental companies and introducing new products in an effort to boost their market share. The increased demand for electric excavators, loaders, and forklifts in the rental business is therefore expected to promote industry growth.
To expand their sales activity, major players are utilising online platforms, which is predicted to propel market expansion. One such example is the 2.5-ton battery-powered compact Volvo electric excavator that Volvo CE stated would be sold in Asia in March 2022. The company predicts greater sales and brand value in Western markets as a result of this. Countries like India and Japan are projected to enjoy significant economic growth as a result of rising investments in urban infrastructure and a drive towards the adoption of smart construction equipment to tackle rising pollution. The need for intelligent electric excavators is anticipated to increase as a result. The changing cost of raw materials and the high cost of goods are predicted to impede the growth of the global market for compact electric construction equipment. The significant initial expenditure needed to buy these devices is one of the main barriers for the industry. Although using electric equipment can result in long-term cost savings through reduced fuel and maintenance expenses, the initial investment can be a substantial barrier for many businesses, especially smaller ones.
Urbanization's rising tendency is also opening up new market prospects. There is a rising need for construction machinery that can operate in urban settings as more people move into cities. Compact electric machinery is better suited for this kind of job than conventional diesel-powered machinery because it is quieter and emits less pollutants.
Report Coverage
Global Compact Electric Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Compact Electric Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Compact Electric Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Compact Electric Construction Equipment market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Compact Electric Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Compact Electric Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar; JCB; HAULOTTE GROUP; Wacker Neuson SE; Toyota Motor Corporation; Hyster-Yale Group, Inc.; SANY Group; Volvo CE; Hyundai CE; Bobcat
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Compact Electric Construction Equipment market based on the below-mentioned segments:
Global Compact Electric Construction Equipment Market, By Type
Forklift
Loader
Excavator
AWP
Global Compact Electric Construction Equipment market, By Ton
Below 5 Ton
6 to 8 Ton
8 to 10 Ton
Global Compact Electric Construction Equipment market, Regional Analysis
This shows that there is a growing need for small construction equipment in the nation. Furthermore, warehouse managers are placing more attention on forklifts such pallet jacks and stand-up riders since they are effectively made to handle high weights and can be flexible at greater heights. It is projected that the strategy taken by warehouse owners to reduce operational expenses and improve transparency within the warehouse will fuel demand for compact electric construction equipment.
Compact electric construction equipment is becoming more and more in demand, which can be due to both a noteworthy rise in worldwide building activity and strict environmental restrictions. Governments are also concentrating on building infrastructure to enable rapid growth. As a result, the demand for compact machinery that can operate in confined locations, is portable, and has low maintenance and operating expenses is increasing exponentially. The growth of the global market for small electric construction equipment is anticipated to be aided by this factor. Additionally, businesses that rent out construction equipment are growing quickly. To save the costs of acquiring and maintaining the equipment, customers frequently choose to rent construction equipment. Many manufacturers of construction equipment, such as Mitsubishi Corporation, Komatsu Ltd, and Hyundai Construction Co., Ltd, have begun collaborating with rental companies and introducing new products in an effort to boost their market share. The increased demand for electric excavators, loaders, and forklifts in the rental business is therefore expected to promote industry growth.
To expand their sales activity, major players are utilising online platforms, which is predicted to propel market expansion. One such example is the 2.5-ton battery-powered compact Volvo electric excavator that Volvo CE stated would be sold in Asia in March 2022. The company predicts greater sales and brand value in Western markets as a result of this. Countries like India and Japan are projected to enjoy significant economic growth as a result of rising investments in urban infrastructure and a drive towards the adoption of smart construction equipment to tackle rising pollution. The need for intelligent electric excavators is anticipated to increase as a result. The changing cost of raw materials and the high cost of goods are predicted to impede the growth of the global market for compact electric construction equipment. The significant initial expenditure needed to buy these devices is one of the main barriers for the industry. Although using electric equipment can result in long-term cost savings through reduced fuel and maintenance expenses, the initial investment can be a substantial barrier for many businesses, especially smaller ones.
Urbanization's rising tendency is also opening up new market prospects. There is a rising need for construction machinery that can operate in urban settings as more people move into cities. Compact electric machinery is better suited for this kind of job than conventional diesel-powered machinery because it is quieter and emits less pollutants.
Report Coverage
Global Compact Electric Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Compact Electric Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Compact Electric Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Compact Electric Construction Equipment market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Caterpillar; JCB; HAULOTTE GROUP; Wacker Neuson SE; Toyota Motor Corporation; Hyster-Yale Group, Inc.; SANY Group; Volvo CE; Hyundai CE; Bobcat |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Compact Electric Construction Equipment Market from 2021 to 2030.
- Market Forecast for Compact Electric Construction Equipment Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Compact Electric Construction Equipment competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Compact Electric Construction Equipment
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Compact Electric Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Compact Electric Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar; JCB; HAULOTTE GROUP; Wacker Neuson SE; Toyota Motor Corporation; Hyster-Yale Group, Inc.; SANY Group; Volvo CE; Hyundai CE; Bobcat
Primary Target Market
- Market Players of Compact Electric Construction Equipment
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Compact Electric Construction Equipment market based on the below-mentioned segments:
Global Compact Electric Construction Equipment Market, By Type
Forklift
Loader
Excavator
AWP
Global Compact Electric Construction Equipment market, By Ton
Below 5 Ton
6 to 8 Ton
8 to 10 Ton
Global Compact Electric Construction Equipment market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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