Electric Excavators Market: By Product Type (Wheeled, Crawler, Mini/Compact, Others), By Propulsion (Pure Electric, Hybrid), By End Use Industry (Construction, Mining, Forestry, Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
Electric Excavators Market: By Product Type (Wheeled, Crawler, Mini/Compact, Others), By Propulsion (Pure Electric, Hybrid), By End Use Industry (Construction, Mining, Forestry, Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts T%li%2031
PRODUCT OVERVIEW
An electrically powered heavy construction tool called an electric excavator is used t%li%dig trenches and holes as well as for material handling, construction, mining, forestry mulching, general grading, river dredging, drilling shafts, driving piles, and other similar tasks. Compared t%li%any other piece of heavy machinery on the market, they offer the power t%li%carry out these operations significantly more quickly and efficiently. Wheeled, walking, towed, and rail excavators are the various types of excavators. Similar t%li%tracked tanks, which are frequently used by armies, these crawlers move on spinning wheel systems but can als%li%dig, pick up, and transport stuff as they go.
MARKET HIGHLIGHTS
Global Electric Excavators Market is expected t%li%project a notable CAGR of 19.4% in 2031.
Global Electric Excavators Market t%li%surpass USD 35.3 billion by 2031 from USD 6 billion in 2021 at a CAGR of 19.4% in the coming years, i.e., 2021-2031. It is anticipated that factors like the quick development and transition of many sectors, together with rising infrastructure around the world, particularly in developing nations, will fuel the growth of this market. Additionally, due t%li%lower noise emission, greater maneuverability, and operating convenience, large-scale construction organizations are replacing conventional heavy-duty excavators with electric excavators, which is expected t%li%drive the market for electric excavators in the near future.
GLOBAL ELECTRIC EXCAVATORS MARKET: SEGMENTS
The Mini-Compact segment is expected t%li%grow with the highest CAGR during 2021-31
Based on Product Type, the global Electric Excavators Market is fragmented int%li%Wheeled, Crawler, Mini/Compact, and Others. By the end of 2021, it is anticipated that the mini/compact product segment will hold the largest market share due t%li%an increase in construction activities that will increase the demand for tools and equipment that can fit int%li%tight spaces and delicate structures and carry out a variety of excavation, fixing, clawing, and lifting tasks. Additionally, because they are quick and efficient tools that assist reduce manual labor across sectors, compact excavators are expected t%li%contribute t%li%the segment's growth throughout the course of the projection period.
The Construction segment is expected t%li%grow with the highest CAGR during 2021-31
Global Electric Excavators Market is classified on the basis of End Use Industry int%li%Construction, Mining, Forestry, and Others. Over the course of the projection period, the construction segment of the market for electric excavators is expected t%li%expand significantly. The increase in building activity and rising investment in the infrastructure market on a global scale can be blamed for the segment's expansion.
MARKET DYNAMICS
Drivers
Speedy Transformation and Evolution of Multiple Industries
Major Rise in the Demand of Electric Excavators
Restraint
High Cost of the Battery and Costly Maintenance is hampering the Market
GLOBAL ELECTRIC EXCAVATORS MARKET:
Key Players
Electric Excavators Market Segments:
PRODUCT OVERVIEW
An electrically powered heavy construction tool called an electric excavator is used t%li%dig trenches and holes as well as for material handling, construction, mining, forestry mulching, general grading, river dredging, drilling shafts, driving piles, and other similar tasks. Compared t%li%any other piece of heavy machinery on the market, they offer the power t%li%carry out these operations significantly more quickly and efficiently. Wheeled, walking, towed, and rail excavators are the various types of excavators. Similar t%li%tracked tanks, which are frequently used by armies, these crawlers move on spinning wheel systems but can als%li%dig, pick up, and transport stuff as they go.
MARKET HIGHLIGHTS
Global Electric Excavators Market is expected t%li%project a notable CAGR of 19.4% in 2031.
Global Electric Excavators Market t%li%surpass USD 35.3 billion by 2031 from USD 6 billion in 2021 at a CAGR of 19.4% in the coming years, i.e., 2021-2031. It is anticipated that factors like the quick development and transition of many sectors, together with rising infrastructure around the world, particularly in developing nations, will fuel the growth of this market. Additionally, due t%li%lower noise emission, greater maneuverability, and operating convenience, large-scale construction organizations are replacing conventional heavy-duty excavators with electric excavators, which is expected t%li%drive the market for electric excavators in the near future.
GLOBAL ELECTRIC EXCAVATORS MARKET: SEGMENTS
The Mini-Compact segment is expected t%li%grow with the highest CAGR during 2021-31
Based on Product Type, the global Electric Excavators Market is fragmented int%li%Wheeled, Crawler, Mini/Compact, and Others. By the end of 2021, it is anticipated that the mini/compact product segment will hold the largest market share due t%li%an increase in construction activities that will increase the demand for tools and equipment that can fit int%li%tight spaces and delicate structures and carry out a variety of excavation, fixing, clawing, and lifting tasks. Additionally, because they are quick and efficient tools that assist reduce manual labor across sectors, compact excavators are expected t%li%contribute t%li%the segment's growth throughout the course of the projection period.
The Construction segment is expected t%li%grow with the highest CAGR during 2021-31
Global Electric Excavators Market is classified on the basis of End Use Industry int%li%Construction, Mining, Forestry, and Others. Over the course of the projection period, the construction segment of the market for electric excavators is expected t%li%expand significantly. The increase in building activity and rising investment in the infrastructure market on a global scale can be blamed for the segment's expansion.
MARKET DYNAMICS
Drivers
Speedy Transformation and Evolution of Multiple Industries
Major Rise in the Demand of Electric Excavators
Restraint
High Cost of the Battery and Costly Maintenance is hampering the Market
GLOBAL ELECTRIC EXCAVATORS MARKET:
Key Players
- JCB (Joseph Cyril Bamford Excavators Ltd.)
- Hyundai
- Hitachi Construction Machinery
- Volvo
- Bobcat
- Sennebogen
- Precision ProCut
- IHI Compact Excavator
- Green Machine
- Wacker Neuson SE
- Mecalac
- Other Prominent Players
Electric Excavators Market Segments:
- By Product Type
- Wheeled
- Crawler
- Mini/Compact
- Others
- By Propulsion
- Pure Electric
- Hybrid
- By End Use Industry
- Construction
- Mining
- Forestry
- Others
- Electric Excavators Market Dynamics
- Electric Excavators Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
- Reasons t%li%Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2. Business Trends
1.3. Global Electric Excavators Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Global Electric Excavators Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 GLOBAL ELECTRIC EXCAVATORS MARKET - INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 GLOBAL ELECTRIC EXCAVATORS MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 GLOBAL ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Product Type
11.3.1.1. Wheeled
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Crawler
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Mini/Compact
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.4. Others
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.2. By Propulsion
11.3.2.1. Pure Electric
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Hybrid
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3. By End Use Industry
11.3.3.1. Construction
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Mining
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Forestry
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Others
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Product Type
12.3.2. By Propulsion
12.3.3. By End Use Industry
12.3.4. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13 EUROPE ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Product Type
13.3.2. By Propulsion
13.3.3. By End Use Industry
13.4. Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe
14 ASIA PACIFIC ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Product Type
14.3.2. By Propulsion
14.3.3. By End Use Industry
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of Asia Pacific
15 MIDDLE EAST AND AFRICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Product Type
15.3.2. By Propulsion
15.3.3. By End Use Industry
15.4. Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Product Type
16.3.2. By Propulsion
16.3.3. By End Use Industry
16.4. Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2020
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. JCB (Joseph Cyril Bamford Excavators Ltd.)
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Hyundai
18.3. Hitachi Construction Machinery
18.4. Volvo
18.5. Bobcat
18.6. Sennebogen
18.7. Precision ProCut
18.8. IHI Compact Excavator
18.9. Green Machine
18.10. Wacker Neuson SE
18.11. Mecalac
18.12.
19 APPENDIX
20 CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2. Business Trends
1.3. Global Electric Excavators Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2 RESEARCH METHODOLOGY
2.1. Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3 MARKET CHARACTERISTICS
3.1. Market Definition
3.2. Global Electric Excavators Market: COVID-19 Impact
3.3. Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4 GLOBAL ELECTRIC EXCAVATORS MARKET - INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2. COVID-19 overview on world economy
4.3. Industry ecosystem Channel analysis
4.4. Innovation & Sustainability
5 MACROECONOMIC INDICATORS
6 RECENT DEVELOPMENTS
7 MARKET DYNAMICS
7.1. Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4. Market Restraints
7.5. Market Trends
8 RISK ANALYSIS
9 MARKET ANALYSIS
9.1. Porters Five Forces
9.2. PEST Analysis
9.2.1. Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10 GLOBAL ELECTRIC EXCAVATORS MARKET
10.1. Overview
10.2. Historical Analysis (2016-2020)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11 GLOBAL ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
11.1. Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Product Type
11.3.1.1. Wheeled
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.2. Crawler
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.3. Mini/Compact
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.1.4. Others
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.2. By Propulsion
11.3.2.1. Pure Electric
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.2.2. Hybrid
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3. By End Use Industry
11.3.3.1. Construction
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.2. Mining
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.3. Forestry
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
11.3.3.4. Others
• By Value (USD Million) 2020-2031F
• Market Share (%) 2020-2031F
• Y-o-Y Growth (%) 2021-2031F
12 NORTH AMERICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Product Type
12.3.2. By Propulsion
12.3.3. By End Use Industry
12.3.4. By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13 EUROPE ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Product Type
13.3.2. By Propulsion
13.3.3. By End Use Industry
13.4. Country
13.4.1. Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe
14 ASIA PACIFIC ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
14.1. Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Product Type
14.3.2. By Propulsion
14.3.3. By End Use Industry
14.4. By Country
14.4.1. India
14.4.2. China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of Asia Pacific
15 MIDDLE EAST AND AFRICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
15.1. Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Product Type
15.3.2. By Propulsion
15.3.3. By End Use Industry
15.4. Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4. South Africa
15.4.5. Rest of Middle East and Africa
16 LATIN AMERICA ELECTRIC EXCAVATORS MARKET SIZE & FORECAST 2020A-2031F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Product Type
16.3.2. By Propulsion
16.3.3. By End Use Industry
16.4. Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17 COMPETITIVE LANDSCAPE
17.1. Company market share, 2020
17.2. Key player overview
17.3. Key stakeholders
18 COMPANY PROFILES
18.1. JCB (Joseph Cyril Bamford Excavators Ltd.)
18.1.1. Company Overview
18.1.2. Financial Overview
18.1.3. Key Product; Analysis
18.1.4. Company Assessment
18.1.4.1. Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Hyundai
18.3. Hitachi Construction Machinery
18.4. Volvo
18.5. Bobcat
18.6. Sennebogen
18.7. Precision ProCut
18.8. IHI Compact Excavator
18.9. Green Machine
18.10. Wacker Neuson SE
18.11. Mecalac
18.12.
19 APPENDIX
20 CONSULTANT RECOMMENDATION
