Electric Excavators Market Segmentation:
Product
In term of product segmentation, the mini/ compact product segment is predicted to account for the highest market share of 40% by the end of 2035. This growth can be attributed to an increase in construction activities, which will increase the demand for tools and equipment that can fit into tight spaces and fragile structures, and perform various digging, securing, raking and lifting tasks. Additionally, as they are quick and efficient tools that help reduce manual labor in industries, compact excavators are expected to contribute to the growth of this segment during the forecast period.
End User
Based on end user, construction segment is anticipated to hold the highest CAGR during the time period between 2024 – 2035. It is expected that a significant increase in the construction segment of the market for electrical excavators will take place over the projection period. An expansion of these segments is attributable to an increase in building activity and rising investment on the global infrastructure market. There are about USD 1.6 trillion worth of building projects in the United States planned for 2021.
Our in-depth analysis of the global market includes the following segments:
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