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Electric Construction Equipment Market Share

Report ID: GMI11240
Published Date: Sep 2024
Report Format: PDF

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Electric Construction Equipment Market Share

Caterpillar Inc., John Deere, and Kubota Corporation held a significant market share of over 14% in 2023. Caterpillar is expanding its electric construction equipment portfolio by developing electric excavators and loaders. The company integrates battery-electric technologies to reduce emissions and enhance energy efficiency by leveraging its expertise in heavy machinery. By collaborating with partners and customers, Caterpillar tests and refines its electric models, emphasizing sustainability and compliance with evolving environmental regulations.

John Deere is advancing its electric construction equipment lineup by investing in electric drivetrain technologies and developing battery-powered machinery, including excavators and loaders. The company is committed to reducing carbon emissions and operational costs for its customers. Additionally, John Deere focuses on enhancing the performance and durability of its electric equipment, incorporating smart technologies to optimize energy use and improve overall efficiency.

Kubota Corporation is broadening its electric construction equipment range, focusing on compact and mid-sized machinery. The company is developing electric excavators and loaders that prioritize lower emissions and quieter operations. By integrating advanced battery technologies, Kubota aims to enhance equipment efficiency and reliability, particularly targeting urban construction projects where noise and pollution reduction are critical.

Electric Construction Equipment Market Companies

Major players operating in the electric construction equipment industty are:

Caterpillar Inc.
John deere
Kubota Corporation
Komatsu Ltd.
Doosan Infracore Co., Ltd.
Hitachi Construction Machinery Co., Ltd.
Liebherr Group
JCB
Terex Corporation
Sany Group

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric construction equipment was worth over USD 12.2 billion in 2023 and is expected to register over 23.2% CAGR from 2024 to 2032, due to the rising urbanization and infrastructure initiatives worldwide.

Electric construction equipment industry from the 50 kWh to 200 kWh segment held over 43% share in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to its optimal balance of power and operational efficiency.

Asia Pacific electric construction equipment industry held over 32% share in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to rapid urbanization, infrastructure development, and stringent environmental regulations in the region.

Caterpillar Inc., John deere, Kubota Corporation, Komatsu Ltd., Doosan Infracore Co., Ltd., Hitachi Construction Machinery Co., Ltd., Liebherr Group, JCB, Terex Corporation, and Sany Group, are some of the major electric construction equipment companies worldwide.