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Electric Excavators Market Segmentation by Propulsion (Pure Electric, and Hybrid); by Product Type (Wheeled, Mini/ Compact, Crawler, and Others); and by End-use Industry (Construction, Mining, Forestry and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Electric Excavators Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Electric Excavators Market Highlights 2020-2029

The electric excavators market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Rapid transformation and evolution of several industries in conjunction with booming infrastructure across the globe, especially in developing countries, are expected to fuel the progress of this market. On the other hand, large-scale construction companies are switching conventional heavy-duty excavators with electric excavators due to reduced noise emission, superior manoeuvrability, and operational ease, which is anticipated to drive the electric excavator market in the near future.

Global-Electric-Excavators-Market

The market is segmented based on product type into wheeled, mini/compact, crawler, and others, out of which, the mini/compact product segment is anticipated to grab the largest share by the end of 2021 on account of rising construction activities that demand for equipment and devices that can pervade narrow spaces and delicate structures to perform a variety of functions related to excavation, fixing, clawing, and lifting. Furthermore, compact excavators are agile and effective devices that help reduce manual labour across industries, which is also projected to contribute to the segment's growth during the forecast period.

On the basis of end-use industry, the construction segment in the global electric excavators market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the rising construction activities and increasing investment in the infrastructure sector on a global level.

Electric Excavators Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rising demand for excavating activities in the various end-use industry and rapid urbanization & industrializations in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment in infrastructure sector from public and private organizations. Alternatively, the market in Europe is also anticipated to occupy a significant share in the electric excavators market.

/Global-Electric-Excavators-Market-Share

The global electric excavators market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global electric excavators market includes the following segments:

By Propulsion

  • Pure Electric
  • Hybrid

By Product Type

  • Wheeled
  • Mini/ Compact
  • Crawler
  • Others

By End-use Industry

  • Construction
  • Mining
  • Forestry
  • Others

Growth Drivers

  • Evolution in Excavator Manufacturing Industry and Booming Infrastructure Sector
  • Manufacturers Developing Electric Excavator to Work for Numerous Applications

Challenges

  • Higher Battery Cost and Untested Battery Performance in Extreme Working Conditions

Top Featured Companies Dominating the Market

  •  Caterpillar
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • SENNEBOGEN
  • J C Bamford Excavators Ltd
  • AB Volvo
  • Doosan Bobcat
  • Komatsu Ltd.
  • Deere & Company
  • YANMAR HOLDINGS CO., LTD.
  • Hitachi Construction Machinery Co., Ltd
  • KUBOTA Corporation

 

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