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Electric Construction Equipment Market by Equipment Type, Battery Capacity, Battery Type, Power Output, Application, Propulsion, Electric Tractor Market, Electric Construction & Mining Equipment Market and Region - Global Forecast to 2027
Market Report I 2022-09-20 I 338 Pages I MarketsandMarkets
The electric off-highway equipment market is estimated to grow from USD 9.2 billion in 2022 to USD 24.8 billion by 2027 at a CAGR of 22.0% over the forecast period. All key countries have established programs/regulations to deal with GHG emissions in the transportation industry. Most countries follow Euro equivalent Standards, such as Stage IV or V. The PM limit of the Stage V standard is 97% lower than that of the Stage I Standard, and the hydrocarbon (HC) + Nitrogen Oxides (NOx) limit is 94% lower. China, Japan, South Korea, and India also follow the Euro Equivalent regulations. The Emission Control Technologies (ECT) such as Selective Catalytic Reduction (SCR), Gasoline Particulate Filter (GPF), Exhaust Gas Recirculation (EGR), Diesel Particulate Filter (DPF), various sensors including oxygen sensor, NOx sensors, and thermal management technologies - are used to control and reduce the emissions from the off-highway equipment. Some ECTs also lead to loss of power and other downfalls such as reduced fuel economy, reduced back pressure in prolonged use, more maintenance activities, etc. All these expenses, including the vehicle's increased capital, resulted in the customers' extended return on investment (ROI) duration.
To overcome these difficulties and the associated costs, the manufacturers and customers opt for an alternative sustainable mode of mobility. This greatly aided the development of the hybrid and electric off-highway equipment and equipment, which are more efficient, emission-free, and noise-free than their IC engine counterparts.
Moreover, the initial cost of electric off-highway equipment is around 140%-170% higher than conventional equipment because of the high cost of the batteries. However, with advancements in battery technology, the cost of the battery and overall equipment is expected to decrease. Due to the high cost of electric equipment, the demand is expected to be steady in the near future; the market would showcase a promising growth in the long run. In the near future, OEMs are expected to prefer hybrid or alternate fuel engines to balance the equipment's limits and cost.
The underground mining activities produce harmful dust and gases and usually have a hot to very hot temperature. The diesel-powered mining vehicles and equipment are one of the major producers of the underground mines' heat, nitrogen dioxide, and other toxic gases. These emissions also increase the heat generated in underground mines, which demands a crucial ventilation system with huge capital maintenance expenses. According to the International Council on Mining and Metals (ICMM), 40% of an underground mine's energy outlay is spent on operating ventilation systems to remove pollutants and heat from mining tunnels. Such factors increase the overall operational cost of the mine while decreasing its production efficiency.
The regulations also mandate that the air reaching each mine's working faces must travel with a velocity to cover at least 60 feet in a minute. These air velocities are controlled by various ventilation systems and balance the airflow with the correct ratio. The diesel engine vehicles not only produce emissions and heat but also produce high sounds within the narrow mining channels. For these reasons and to achieve sustainability goals, manufacturers and mine owners have started to prefer the electrification of these mining vehicles. Especially in designing a new mining site, incorporating an electric fleet of vehicles and equipment can drastically reduce capital and maintenance costs. Though the ventilation system cannot be eliminated, the electric mining vehicles reduce the system's load as it produces zero emissions and less heat. In such cases, the capacity of the ventilation systems can be reduced, thereby reducing the capital investment.
Therefore, the miners find the electric mining vehicles more profitable and apt for their large underground mining operations. Moreover, many leading miners, including Anglo American (AAL.L), Rio Tinto (RIO.L), and BHP (BHPB.L), have already committed to net zero emissions by the year 2050, and these companies prefer the electric mining fleet to reach their sustainability goals.
"The battery electric off-highway equipment would lead the market due to the stringent noise and emission regulations."
The demand for sustainable equipment in the mining industry to decrease ventilation costs is expected to drive the electrification of mining equipment during the forecast period. However, the stringent noise and emission regulations within the city limits would drive the market for such battery electric and hybrid construction equipment. Though these electric equipment would face challenges such as higher cost than their ICE counterparts or longer charging time, the advancements in the battery technology would make the electric equipment popular in the long run.
Americas is projected to be the second largest market for electric off-highway equipment
The leading countries such as US, Canada, Mexico, Brazil, and Argentina are considered under the Americas region. The electric off-highway equipment demand in Americas is rapidly increasing because of the environmental protection measures adopted in these key countries. In addition, with the upcoming stringent emission norms for fuel economy in the region, companies are making efforts to manufacture electric and hybrid equipment for the domestic market. Recent electric equipment launches from the leading off-highway equipment manufacturers has promised the growth of electric off-highway equipment market in this region. Some of the leading companies that are present in this region are Caterpillar Inc. (US), Deere & Company (US), Soletrac Inc. (US), Dana Limited (US) and others.
Moreover, the region has large deposits of coal, iron, zinc, copper, cement, lithium, and precious metals. The mining industry in this region is large and many leading players that hold a significant share of the mining equipment market are present in this region. The Americas electric off-highway equipment market is estimated to be the second largest market, globally. High demand for mini construction equipment, including mini excavators, loaders, and dozers, is driving the growth of the electric off-highway equipment market in Americas.
The US is projected to dominate the Americas electric off-highway equipment market with a value of USD 6,793.0 Million by 2027. This is mainly because of increasing demand for electrification in construction, mining, and agriculture vehicles, because of its various advantages including emission free and noiseless operation. The presence of major electric off-highway equipment manufacturers in US and their increasing investments in electric off-highway equipment, subsystems, and battery developments are some other key reasons for the growth of electric off-highway equipment market in US.
For instance, in 2021, The Caterpillar Inc. along with another venture, invested USD 16 Million as Series B funding for BrightVolt, Inc, a global leader in the design, development, and manufacturing of safe, high energy and low-cost solid-state lithium-ion batteries. This funding is aimed to be used for the development of larger form factor products aiming industrial electrification and e-mobility markets.
Such developments of the leading companies with the aim to minimize drawbacks of the conventional battery types in electric loaders and excavators are further expected to drive the growth for the electric off-highway equipment in the US.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
- By Company Type: Electric off-highway equipment OEM - 40%, Tier 1 - 20%, Tier 2 - 40%
- By Designation: C Level - 30%, Directors- 20%, and Others - 50%
- By Region: Asia Pacific - 50%, Europe - 20%, North America -30% RoW - 10%
The electric off-highway equipment market is dominated by a few globally established companies such as Hitachi Construction Machinery (Japan), Caterpillar Inc. (US), Komatsu Ltd. (Japan), JCB (UK), Volvo Construction Equipment (Volvo CE) (Sweden).
Research Coverage:
The study segments the electric off-highway equipment market and forecasts the market size based on equipment type (electric excavator, electric motor grader, electric dozer, electric loader, electric dump truck, electric load-haul-dump loader, electric lawnmower, electric sprayer, and electric tractor), battery capacity (<50 kWh, 50-200 kWh, 200-500 kWh, and >500 kWh), battery type (lithium-ion, lead-acid, and other batteries), power output (<50 hp, 50-150 hp, 150-300 hp, and >300 hp), application (construction, mining, agriculture, and gardening), propulsion (hybrid-electric and battery-electric), Electric tractor market, by propulsion type (hybrid electric & battery electric), Electric construction & mining equipment market, by propulsion type (hybrid electric & battery electric), and region (Asia-Pacific, Europe, and Americas)
The study also includes an in-depth competitive analysis of the major electric off-highway equipment manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall electric off-highway equipment market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides them information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION 42
1.1 STUDY OBJECTIVES 42
1.2 MARKET DEFINITION 43
1.3 INCLUSIONS & EXCLUSIONS 43
TABLE 1 INCLUSIONS & EXCLUSIONS FOR ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET 43
1.4 STUDY SCOPE 44
1.4.1 MARKETS COVERED 44
FIGURE 1 MARKET SEGMENTATION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET 44
1.4.2 YEARS CONSIDERED 45
1.5 CURRENCY CONSIDERED 45
1.6 PACKAGE SIZE 45
1.7 LIMITATIONS 45
1.8 STAKEHOLDERS 46
1.9 SUMMARY OF CHANGES 46
2 RESEARCH METHODOLOGY 48
2.1 RESEARCH DATA 48
FIGURE 2 RESEARCH DESIGN 49
FIGURE 3 RESEARCH METHODOLOGY MODEL 50
2.2 SECONDARY DATA 50
2.2.1 LIST OF KEY SECONDARY SOURCES TO ESTIMATE ELECTRIC OFF-HIGHWAY EQUIPMENT SALES 51
2.2.2 LIST OF KEY SECONDARY SOURCES TO ESTIMATE ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET SIZE 52
2.2.3 KEY DATA FROM SECONDARY SOURCES 52
2.3 PRIMARY DATA 53
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS 53
2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS 53
2.3.1.1 Primary participants 54
2.4 MARKET SIZE ESTIMATION 54
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 54
2.4.1 BOTTOM-UP APPROACH 55
FIGURE 6 BOTTOM-UP APPROACH: ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET 55
2.4.2 TOP-DOWN APPROACH 56
FIGURE 7 TOP-DOWN APPROACH: ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET 56
2.5 FACTOR ANALYSIS 57
2.6 MARKET BREAKDOWN AND DATA TRIANGULATION 58
FIGURE 8 DATA TRIANGULATION 58
2.7 ASSUMPTIONS 59
2.8 RESEARCH LIMITATIONS 61
3 EXECUTIVE SUMMARY 62
3.1 REPORT SUMMARY 62
FIGURE 9 ELECTRIC CONSTRUCTION EQUIPMENT MARKET OUTLOOK 62
FIGURE 10 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022 & 2027 (USD MILLION) 63
4 PREMIUM INSIGHTS 64
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC CONSTRUCTION EQUIPMENT MARKET 64
FIGURE 11 GROWING NEED TO MINIMIZE EMISSIONS AND VENTILATION COSTS IN UNDERGROUND MINING TO DRIVE MARKET 64
4.2 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE 65
FIGURE 12 DUMP TRUCK SEGMENT TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET FROM 2022 TO 2027 65
4.3 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION 65
FIGURE 13 ELECTRIC MINING EQUIPMENT WOULD SHOWCASE LARGEST DEMAND OVER FORECAST PERIOD 65
4.4 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE 66
FIGURE 14 LITHIUM-ION WOULD BE MOST PREFERRED BATTERY TYPE IN ELECTRIC OFF-HIGHWAY EQUIPMENT DURING FORECAST PERIOD 66
4.5 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY 66
FIGURE 15 <50 KWH SEGMENT ESTIMATED TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET IN 2022 66
4.6 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION 67
FIGURE 16 BATTERY-ELECTRIC EQUIPMENT WOULD BE PREFERRED OVER HYBRID-ELECTRIC EQUIPMENT DURING FORECAST PERIOD 67
4.7 ELECTRIC TRACTOR MARKET, BY PROPULSION 67
FIGURE 17 BATTERY-ELECTRIC TRACTORS WOULD BE PREFERRED OVER HYBRID-ELECTRIC TRACTORS OVER FORECAST PERIOD 67
4.8 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT 68
FIGURE 18 <50 HP SEGMENT ESTIMATED TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET IN 2022 68
4.9 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION 68
FIGURE 19 HYBRID-ELECTRIC SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 68
4.10 ELECTRIC AGRICULTURAL EQUIPMENT MARKET, BY EQUIPMENT TYPE 69
FIGURE 20 ELECTRIC LAWN MOWER SEGMENT TO LEAD ELECTRIC OFF-HIGHWAY MARKET DURING FORECAST PERIOD 69
4.11 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION 69
FIGURE 21 AMERICAS ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2022 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 71
FIGURE 22 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: MARKET DYNAMICS 71
5.2.1 DRIVERS 71
5.2.1.1 Strict vehicular emission regulations 71
FIGURE 23 NON-ROAD MOBILE MACHINERY (NRMM) EMISSION REGULATION OUTLOOK, 2019-2030 72
TABLE 2 COMPARISON BETWEEN BHARAT STAGE IV AND BHARAT STAGE V REGULATIONS FOR PM LIMITS 72
TABLE 3 COMPARISON BETWEEN BHARAT STAGE IV AND BHARAT STAGE V REGULATIONS FOR PN LIMITS 73
TABLE 4 COMPARISON BETWEEN EURO STAGE IV, V, AND VI REGULATIONS FOR HEAVY-DUTY DIESEL ENGINES, IN G/KWH 73
5.2.1.2 High ventilation costs in underground mining 74
TABLE 5 AIR QUANTITY COMPARISON BETWEEN LIGNITE AND ANTHRACITE MINES 74
TABLE 6 COST COMPARISON BETWEEN DIESEL AND ELECTRIC MINING EQUIPMENT 75
5.2.1.3 Rising demand for low-noise construction activities in residential areas 75
TABLE 7 CONSTRUCTION EQUIPMENT NOISE EMISSION LEVELS FOR RESIDENTIAL AREAS, BY COUNTRY 75
TABLE 8 LOW NOISE ELECTRIC CONSTRUCTION EQUIPMENT BY KEY OEMS 76
5.2.2 RESTRAINTS 77
5.2.2.1 Higher initial cost than conventional ICE equipment 77
TABLE 9 COST COMPARISON: ELECTRIC VS DIESEL POWERED OFF-HIGHWAY EQUIPMENT, BY OEM 77
5.2.3 OPPORTUNITIES 78
5.2.3.1 Development of long-range and fast-charging battery technology 78
5.2.3.2 Intermediate demand for hybrid and alternate fuel equipment 79
5.2.4 CHALLENGES 79
5.2.4.1 Limited compatibility, interchangeability, and standardization of electric off-highway equipment for long-haul applications 79
TABLE 10 RANGE COMPARISON: OFF-HIGHWAY DIESEL TRUCK VS BATTERY ELECTRIC TRUCK 80
5.2.4.2 Need for efficient thermal management system for batteries in extreme working conditions 80
TABLE 11 WORKING TEMPERATURE COMPARISON FOR OFF-HIGHWAY EQUIPMENT 80
5.3 PORTER'S FIVE FORCES ANALYSIS 81
TABLE 12 PORTER'S FIVE FORCES ANALYSIS 81
FIGURE 24 PORTER'S FIVE FORCES ANALYSIS 82
5.3.1 THREAT OF NEW ENTRANTS 82
5.3.2 THREAT OF SUBSTITUTES 83
5.3.3 BARGAINING POWER OF SUPPLIERS 83
5.3.4 BARGAINING POWER OF BUYERS 83
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 83
5.4 TRADE ANALYSIS 84
5.4.1 IMPORT TRADE DATA 84
TABLE 13 MECHANICAL SHOVELS, EXCAVATORS, AND SHOVEL LOADERS - IMPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD) 84
TABLE 14 BULLDOZERS AND ANGLEDOZERS - IMPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD) 84
5.4.2 EXPORT TRADE DATA 85
TABLE 15 MECHANICAL SHOVELS, EXCAVATORS, AND SHOVEL LOADERS - EXPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD) 85
TABLE 16 BULLDOZERS AND ANGLEDOZERS - EXPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD) 85
5.5 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS 86
FIGURE 25 REVENUE SHIFT FOR ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET 86
5.6 CASE STUDIES 86
5.6.1 XINGWANXIANG GROUP'S ADAPTION OF ELECTRIC MINING EQUIPMENT IN MINUS 30 DEGREE TEMPERATURE 86
5.6.2 FIRST MODE'S SUSTAINABLE SOLUTION TO ANGLO AMERICAN'S CARBON NEUTRAL COMMITMENT 87
5.6.3 BERLINER STADTREINIGUNGSBETRIEBE (BSR) MANAGES CITY WASTE USING ELECTRIC MOBILITY 87
5.6.4 BRUCEJACK GETS ITS FULLY ELECTRIC FLEET 87
5.6.5 ELECTRIFICATION OF CONVENTIONAL DIESEL-POWERED EXCAVATOR 88
5.7 PATENT ANALYSIS 88
5.8 SUPPLY CHAIN ANALYSIS 92
FIGURE 26 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: SUPPLY CHAIN ANALYSIS 92
5.9 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET ECOSYSTEM 93
FIGURE 27 ELECTRIC CONSTRUCTION EQUIPMENT MARKET: ECOSYSTEM 93
TABLE 17 ROLE OF COMPANIES IN ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET ECOSYSTEM 94
5.10 REGULATORY ANALYSIS 95
5.10.1 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: QUALITY STANDARDS 95
TABLE 18 REGULATIONS/STANDARDS FOR ELECTRIC CONSTRUCTION EQUIPMENT 96
5.11 PRICING ANALYSIS 97
5.11.1 ASP ANALYSIS, BY APPLICATION & REGION, 2021 97
TABLE 19 ASP ANALYSIS, BY APPLICATION & REGION, 2021 97
5.11.2 ASP ANALYSIS, BY EQUIPMENT TYPE & REGION, 2021 98
TABLE 20 ASP ANALYSIS, BY EQUIPMENT TYPE & REGION, 2021 98
5.12 TECHNOLOGY ANALYSIS 98
5.12.1 OVERVIEW 98
5.12.1.1 Autonomous construction equipment 99
5.12.1.2 Monitoring and diagnosis via connected technologies 99
5.12.1.3 Safer braking in deep mining sites with regenerative braking 99
5.12.1.4 Agricultural Equipment Automation 99
5.13 KEY CONFERENCES AND EVENTS IN 2022-2023 100
5.14 KEY STAKEHOLDERS & BUYING CRITERIA 101
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 101
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY APPLICATION 101
TABLE 21 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 102
5.14.2 BUYING CRITERIA 102
FIGURE 29 KEY BUYING CRITERIA FOR TOP THREE ELECTRIC CONSTRUCTION EQUIPMENT APPLICATIONS 102
TABLE 22 KEY BUYING CRITERIA FOR TOP THREE ELECTRIC CONSTRUCTION EQUIPMENT APPLICATIONS 103
6 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE 104
6.1 INTRODUCTION 105
6.1.1 RESEARCH METHODOLOGY 105
6.1.2 ASSUMPTIONS 105
6.1.3 INDUSTRY INSIGHTS 105
FIGURE 30 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION) 106
TABLE 23 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 106
TABLE 24 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 106
TABLE 25 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 107
TABLE 26 ELECTRIC CONSTRUCTION MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 107
6.2 ELECTRIC EXCAVATOR 108
6.2.1 ELECTRIC MINI EXCAVATORS HOLD MAXIMUM SHARE IN ELECTRIC EXCAVATOR SEGMENT 108
TABLE 27 ELECTRIC EXCAVATOR MARKET, BY REGION, 2018-2021 (UNITS) 108
TABLE 28 ELECTRIC EXCAVATOR MARKET, BY REGION, 2022-2027 (UNITS) 108
TABLE 29 ELECTRIC EXCAVATOR MARKET, BY REGION, 2018-2021 (USD MILLION) 109
TABLE 30 ELECTRIC EXCAVATOR MARKET, BY REGION, 2022-2027 (USD MILLION) 109
6.3 ELECTRIC LOADER 109
6.3.1 INCREASING DEMAND FOR COMPACT ELECTRIC LOADERS AND SKID STEER LOADERS GLOBALLY 109
TABLE 31 ELECTRIC LOADER MARKET, BY REGION, 2018-2021 (UNITS) 110
TABLE 32 ELECTRIC LOADER MARKET, BY REGION, 2022-2027 (UNITS) 110
TABLE 33 ELECTRIC LOADER MARKET, BY REGION, 2018-2021 (USD MILLION) 110
TABLE 34 ELECTRIC LOADER MARKET, BY REGION, 2022-2027 (USD MILLION) 110
6.4 ELECTRIC MOTOR GRADER 111
6.4.1 ELECTRIFICATION OF MOTOR GRADERS STILL IN NASCENT STAGE 111
TABLE 35 ELECTRIC MOTOR GRADER MARKET, BY REGION, 2018-2021 (UNITS) 111
TABLE 36 ELECTRIC MOTOR GRADER MARKET, BY REGION, 2022-2027(UNITS) 111
TABLE 37 ELECTRIC MOTOR GRADER MARKET, BY REGION, 2018-2021 (USD MILLION) 111
TABLE 38 ELECTRIC MOTOR GRADER MARKET, BY REGION, 2022-2027(USD MILLION) 112
6.5 ELECTRIC DOZER 112
6.5.1 ELECTRIC DOZERS PREFERRED OWING TO NOISE-FREE AND EMISSION-FREE OPERATION 112
TABLE 39 ELECTRIC DOZER MARKET, BY REGION, 2018-2021 (UNITS) 112
TABLE 40 ELECTRIC DOZER MARKET, BY REGION, 2022-2027 (UNITS) 113
TABLE 41 ELECTRIC DOZER MARKET, BY REGION, 2018-2021 (USD MILLION) 113
TABLE 42 ELECTRIC DOZER MARKET, BY REGION, 2022-2027 (USD MILLION) 113
6.6 ELECTRIC DUMP TRUCK 114
6.6.1 ELECTRIC DUMP TRUCKS UTILIZED FOR CARRYING MATERIALS IN SURFACE AND UNDERGROUND MINING ACTIVITIES 114
TABLE 43 ELECTRIC DUMP TRUCK MARKET, BY REGION, 2018-2021 (UNITS) 114
TABLE 44 ELECTRIC DUMP TRUCK MARKET, BY REGION, 2022-2027 (UNITS) 114
TABLE 45 ELECTRIC DUMP TRUCK MARKET, BY REGION, 2018-2021 (USD MILLION) 114
TABLE 46 ELECTRIC DUMP TRUCK MARKET, BY REGION, 2022-2027 (USD MILLION) 115
6.7 ELECTRIC LOAD-HAUL-DUMP LOADER (LHD) 115
6.7.1 ELECTRIC LHD LOADER PROVIDES RUGGEDNESS, HIGH MANEUVERABILITY, AND PRODUCTIVITY 115
TABLE 47 ELECTRIC LHD MARKET, BY REGION, 2018-2021 (UNITS) 115
TABLE 48 ELECTRIC LHD MARKET, BY REGION, 2022-2027 (UNITS) 116
TABLE 49 ELECTRIC LHD MARKET, BY REGION, 2018-2021 (USD MILLION) 116
TABLE 50 ELECTRIC LHD MARKET, BY REGION, 2022-2027 (USD MILLION) 116
7 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY 117
7.1 INTRODUCTION 118
7.1.1 RESEARCH METHODOLOGY 118
7.1.2 ASSUMPTIONS 118
7.1.3 INDUSTRY INSIGHTS 118
FIGURE 31 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022 VS. 2027 (USD MILLION) 119
TABLE 51 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2018-2021 (UNITS) 119
TABLE 52 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022-2027 (UNITS) 120
TABLE 53 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2018-2021 (USD MILLION) 120
TABLE 54 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022-2027 (USD MILLION) 120
7.2 <50 KWH 121
7.2.1 <50 KWH SUITED FOR SMALL AND COMPACT EQUIPMENT 121
TABLE 55 <50 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 121
TABLE 56 <50 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 121
TABLE 57 <50 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 121
TABLE 58 <50 KWH: ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 122
7.3 50-200 KWH 122
7.3.1 50-200 KWH BATTERY CAPACITY SEGMENT LEADING DUE TO HIGHER DEMAND FOR SMALL AND MID-RANGE OFF-HIGHWAY EQUIPMENT 122
TABLE 59 50-200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 122
TABLE 60 50-200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 123
TABLE 61 50-200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 123
TABLE 62 50-200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 123
7.4 200-500 KWH 124
7.4.1 MOTOR GRADERS, DOZERS, MID-SIZED EXCAVATORS, AND LHD PRIMARILY AVAILABLE WITH BATTERY CAPACITY OF 200-500 KWH 124
TABLE 63 200-500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 124
TABLE 64 200-500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 124
TABLE 65 200-500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 124
TABLE 66 200-500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 125
7.5 >500 KWH 125
7.5.1 >500 KWH BATTERY CAPACITY EQUIPMENT YET TO BE FULLY COMMERCIALIZED DUE TO POWER-TO-WEIGHT RATIO ISSUES 125
TABLE 67 >500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 125
TABLE 68 >500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 126
TABLE 69 >500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 126
TABLE 70 >500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 126
8 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE 127
8.1 INTRODUCTION 128
8.1.1 RESEARCH METHODOLOGY 128
8.1.2 ASSUMPTIONS 128
8.1.3 INDUSTRY INSIGHTS 128
FIGURE 32 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022 VS. 2027 (USD MILLION) 129
TABLE 71 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2018-2021 (UNITS) 129
TABLE 72 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022-2027 (UNITS) 129
TABLE 73 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2018-2021 (USD MILLION) 130
TABLE 74 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022-2027 (USD MILLION) 130
8.2 LITHIUM-ION 130
8.2.1 HIGH ENERGY DENSITY AND LONGER BATTERY BACKUP OVER OTHER BATTERIES DRIVE LITHIUM-ION BATTERY MARKET 130
TABLE 75 LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021(UNITS) 131
TABLE 76 LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 131
TABLE 77 LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021(USD MILLION) 131
TABLE 78 LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 131
8.3 LEAD-ACID 132
8.3.1 LOW MANUFACTURING COST DRIVES DEMAND FOR LEAD-ACID BATTERIES IN ELECTRIC CONSTRUCTION EQUIPMENT 132
TABLE 79 LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021(UNITS) 132
TABLE 80 LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 132
TABLE 81 LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021(USD MILLION) 133
TABLE 82 LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 133
8.4 OTHER BATTERIES 133
8.4.1 THERMAL MANAGEMENT CONCERNS WITH OTHER TYPES OF BATTERIES 133
TABLE 83 OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021(UNITS) 134
TABLE 84 OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 134
TABLE 85 OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 134
TABLE 86 OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 134
9 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT 136
9.1 INTRODUCTION 137
9.1.1 RESEARCH METHODOLOGY 137
9.1.2 ASSUMPTIONS 137
9.1.3 INDUSTRY INSIGHTS 138
FIGURE 33 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022 VS. 2027 (USD MILLION) 138
TABLE 87 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018-2021 (UNITS) 138
TABLE 88 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022-2027 (UNITS) 139
TABLE 89 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018-2021 (USD MILLION) 139
TABLE 90 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022-2027 (USD MILLION) 139
9.2 <50 HP 140
9.2.1 RISING DEMAND FOR COMPACT ELECTRIC OFF-HIGHWAY EQUIPMENT TO DRIVE SEGMENT 140
TABLE 91 <50 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 140
TABLE 92 <50 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 140
TABLE 93 <50 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 140
TABLE 94 <50 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 141
9.3 50-150 HP 141
9.3.1 INCREASING LAUNCHES OF LOW TO MEDIUM-POWERED ELECTRIC OFF-HIGHWAY EQUIPMENT TO DRIVE SEGMENT 141
TABLE 95 50-150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 141
TABLE 96 50-150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 142
TABLE 97 50-150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 142
TABLE 98 50-150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 142
9.4 150-300 HP 143
9.4.1 AMERICAS: LEADING MARKET FOR 150-300 HP TRACTORS 143
TABLE 99 150-300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 143
TABLE 100 150-300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 143
TABLE 101 150-300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 143
TABLE 102 150-300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 144
9.5 >300 HP 144
9.5.1 ELECTRIC OFF-HIGHWAY EQUIPMENT WITH >300 HP SUITABLE FOR LARGE CONSTRUCTION AND MINING OPERATIONS 144
TABLE 103 >300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 144
TABLE 104 >300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 145
TABLE 105 >300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 145
TABLE 106 >300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 145
10 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION 146
10.1 INTRODUCTION 147
10.1.1 RESEARCH METHODOLOGY 147
10.1.2 ASSUMPTIONS 147
10.1.3 INDUSTRY INSIGHTS 148
FIGURE 34 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION) 148
TABLE 107 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2018-2021 (UNITS) 148
TABLE 108 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022-2027 (UNITS) 149
TABLE 109 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2018-2021 (USD MILLION) 149
TABLE 110 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 149
10.2 CONSTRUCTION 150
10.2.1 EMISSION AND NOISE REGULATIONS IN URBAN OR CLOSED CONSTRUCTION AREAS TO DRIVE DEMAND FOR ELECTRIC CONSTRUCTION EQUIPMENT 150
TABLE 111 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 150
TABLE 112 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 150
TABLE 113 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 151
TABLE 114 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 151
10.3 MINING 151
10.3.1 REDUCTION IN VENTILATION COSTS IN UNDERGROUND MINING TO DRIVE MARKET 151
TABLE 115 ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 152
TABLE 116 ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 152
TABLE 117 ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 152
TABLE 118 ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 152
10.4 GARDENING 153
10.4.1 EASE OF INCORPORATING ELECTRIC DRIVE SYSTEM IN LAWNMOWERS TO DRIVE SEGMENT 153
TABLE 119 ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 153
TABLE 120 ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 154
TABLE 121 ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 154
TABLE 122 ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 154
10.5 AGRICULTURE 155
10.5.1 ELECTRIC AGRICULTURE EQUIPMENT IMPROVES FARMING EFFICIENCY AND PRODUCTIVITY BY ACCELERATING FARM MECHANIZATION 155
TABLE 123 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 155
TABLE 124 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 155
TABLE 125 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 155
TABLE 126 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 156
11 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION 157
11.1 INTRODUCTION 158
11.1.1 RESEARCH METHODOLOGY 158
11.1.2 ASSUMPTIONS 158
11.1.3 INDUSTRY INSIGHTS 159
FIGURE 35 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION) 159
TABLE 127 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2018-2021 (UNITS) 159
TABLE 128 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022-2027 (UNITS) 160
TABLE 129 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2018-2021 (USD MILLION) 160
TABLE 130 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022-2027 (USD MILLION) 160
11.2 HYBRID-ELECTRIC 161
11.2.1 HYBRID-ELECTRIC EQUIPMENT EFFECTIVELY BRIDGES TECHNOLOGY GAP BETWEEN CONVENTIONAL AND BATTERY-ELECTRIC EQUIPMENT 161
TABLE 131 HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 161
TABLE 132 HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 161
TABLE 133 HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 161
TABLE 134 HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 162
11.3 BATTERY-ELECTRIC 162
11.3.1 STRINGENT EMISSION REGULATIONS DRIVE DEMAND FOR BATTERY-ELECTRIC EQUIPMENT 162
TABLE 135 BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 162
TABLE 136 BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 163
TABLE 137 BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 163
TABLE 138 BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 163
12 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE 164
12.1 INTRODUCTION 165
12.1.1 RESEARCH METHODOLOGY 165
12.1.2 ASSUMPTIONS 165
12.1.3 INDUSTRY INSIGHTS 165
FIGURE 36 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION) 166
TABLE 139 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 166
TABLE 140 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 166
TABLE 141 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 167
TABLE 142 ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 167
12.2 ELECTRIC LAWN MOWER 167
12.2.1 HIGH FUEL EXPENSES AND WORKFORCE SHORTAGE IN GARDENING DRIVE DEVELOPMENT OF ELECTRIC LAWN MOWERS 167
TABLE 143 ELECTRIC LAWN MOWER MARKET, BY REGION, 2018-2021 (UNITS) 168
TABLE 144 ELECTRIC LAWN MOWER MARKET, BY REGION, 2022-2027 (UNITS) 168
TABLE 145 ELECTRIC LAWN MOWER MARKET, BY REGION, 2018-2021 (USD MILLION) 168
TABLE 146 ELECTRIC LAWN MOWER MARKET, BY REGION, 2022-2027 (USD MILLION) 168
12.3 ELECTRIC SPRAYER 169
12.3.1 NEED TO ELIMINATE WITHERING OF CROPS TO DRIVE SEGMENT 169
TABLE 147 ELECTRIC SPRAYER MARKET, BY REGION, 2018-2021 (UNITS) 169
TABLE 148 ELECTRIC SPRAYER MARKET, BY REGION, 2022-2027 (UNITS) 169
TABLE 149 ELECTRIC SPRAYER MARKET, BY REGION, 2018-2021 (USD MILLION) 169
TABLE 150 ELECTRIC SPRAYER MARKET, BY REGION, 2022-2027 (USD MILLION) 170
12.4 ELECTRIC TRACTOR 170
12.4.1 RISING DEMAND FOR FOOD GRAIN PRODUCTS FUELS TECHNOLOGICAL ADVANCEMENTS IN AGRICULTURE INDUSTRY 170
TABLE 151 ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (UNITS) 170
TABLE 152 ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (UNITS) 171
TABLE 153 ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (USD MILLION) 171
TABLE 154 ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (USD MILLION) 171
13 ELECTRIC TRACTOR MARKET, BY PROPULSION 172
13.1 INTRODUCTION 173
13.1.1 RESEARCH METHODOLOGY 173
13.1.2 ASSUMPTIONS 174
13.1.3 INDUSTRY INSIGHTS 174
FIGURE 37 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION) 174
TABLE 155 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018-2021 (UNITS) 174
TABLE 156 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022-2027 (UNITS) 175
TABLE 157 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018-2021 (USD MILLION) 175
TABLE 158 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022-2027 (USD MILLION) 175
13.2 HYBRID-ELECTRIC 175
13.2.1 INCREASING DEMAND FOR MEDIUM AND HEAVY-DUTY TRACTORS TO DRIVE SEGMENT 175
TABLE 159 HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (UNITS) 176
TABLE 160 HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (UNITS) 176
TABLE 161 HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (USD MILLION) 176
TABLE 162 HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (USD MILLION) 177
13.3 BATTERY-ELECTRIC 177
13.3.1 STRINGENT EMISSION NORMS EXPECTED TO DRIVE SEGMENT 177
TABLE 163 BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (UNITS) 177
TABLE 164 BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (UNITS) 178
TABLE 165 BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2018-2021 (USD MILLION) 178
TABLE 166 BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2022-2027 (USD MILLION) 178
14 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION 179
14.1 INTRODUCTION 180
14.1.1 RESEARCH METHODOLOGY 180
14.1.2 ASSUMPTIONS 181
14.1.3 INDUSTRY INSIGHTS 181
FIGURE 38 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION) 181
TABLE 167 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2018-2021 (UNITS) 181
TABLE 168 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022-2027 (UNITS) 182
TABLE 169 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2018-2021 (USD MILLION) 182
TABLE 170 ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022-2027 (USD MILLION) 182
14.2 HYBRID-ELECTRIC 183
14.2.1 HYBRID-ELECTRIC EQUIPMENT TO WITNESS HIGH DEMAND DUE TO FUEL EFFICIENCY 183
TABLE 171 HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 183
TABLE 172 HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 183
TABLE 173 HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 184
TABLE 174 HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 184
14.3 BATTERY-ELECTRIC 184
14.3.1 NOISE AND EMISSION REGULATIONS TO DRIVE SEGMENT DURING FORECAST PERIOD 184
TABLE 175 BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 185
TABLE 176 BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 185
TABLE 177 BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 185
TABLE 178 BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 186
15 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION 187
15.1 INTRODUCTION 188
15.1.1 RESEARCH METHODOLOGY 188
15.1.2 ASSUMPTIONS 189
15.1.3 INDUSTRY INSIGHTS 189
FIGURE 39 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022 VS. 2027 (USD MILLION) 189
TABLE 179 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (UNITS) 190
TABLE 180 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (UNITS) 190
TABLE 181 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018-2021 (USD MILLION) 190
TABLE 182 ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022-2027 (USD MILLION) 190
15.2 ASIA PACIFIC 191
FIGURE 40 ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION) 191
TABLE 183 ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (UNITS) 191
TABLE 184 ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (UNITS) 192
TABLE 185 ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (USD MILLION) 192
TABLE 186 ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (USD MILLION) 192
15.2.1 CHINA 193
15.2.1.1 Innovations and developments by leading Chinese players to drive market 193
TABLE 187 CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 193
TABLE 188 CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 194
TABLE 189 CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 194
TABLE 190 CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 195
15.2.2 INDIA 196
15.2.2.1 Demand for eco-friendly and cost-effective off-highway equipment to drive market 196
TABLE 191 INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 196
TABLE 192 INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 197
TABLE 193 INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 197
TABLE 194 INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 198
15.2.3 JAPAN 199
15.2.3.1 Demand for noise and emission-free compact construction equipment to aid market growth 199
TABLE 195 JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 199
TABLE 196 JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 200
TABLE 197 JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 200
TABLE 198 JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 201
15.2.4 SOUTH KOREA 202
15.2.4.1 Increasing demand for zero-emission equipment and farming automation to aid market growth 202
TABLE 199 SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 202
TABLE 200 SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 203
TABLE 201 SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 203
TABLE 202 SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 204
15.2.5 REST OF ASIA PACIFIC 204
15.2.5.1 Increasing construction activities, presence of large mines, and rising awareness about equipment electrification to drive market 204
TABLE 203 REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 205
TABLE 204 REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 205
TABLE 205 REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 206
TABLE 206 REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 206
15.3 EUROPE 207
FIGURE 41 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET SNAPSHOT 208
FIGURE 42 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION) 209
TABLE 207 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (UNITS) 209
TABLE 208 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (UNITS) 210
TABLE 209 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (USD MILLION) 210
TABLE 210 EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (USD MILLION) 211
15.3.1 GERMANY 211
15.3.1.1 Development of zero-emission zones in urban areas to have positive impact on market growth 211
TABLE 211 GERMANY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 212
TABLE 212 GERMANY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 212
TABLE 213 GERMANY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 213
TABLE 214 GERMANY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 213
15.3.2 UK 214
15.3.2.1 Zero emissions and reduced running costs drive demand for electric tractors 214
TABLE 215 UK: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 214
TABLE 216 UK: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 215
TABLE 217 UK: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 215
TABLE 218 UK: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 216
15.3.3 FRANCE 217
15.3.3.1 Strict noise and emission regulations in urban cities drive demand for electric construction equipment 217
TABLE 219 FRANCE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 217
TABLE 220 FRANCE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 218
TABLE 221 FRANCE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 218
TABLE 222 FRANCE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 219
15.3.4 SPAIN 220
15.3.4.1 Electric tractors aid agricultural sector in Spain with emission-free and noiseless operations 220
TABLE 223 SPAIN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 220
TABLE 224 SPAIN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 220
TABLE 225 SPAIN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 221
TABLE 226 SPAIN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 221
15.3.5 RUSSIA 222
15.3.5.1 Development of fully autonomous electric tractors to drive market 222
TABLE 227 RUSSIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 222
TABLE 228 RUSSIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 222
TABLE 229 RUSSIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 223
TABLE 230 RUSSIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 223
15.3.6 ITALY 224
15.3.6.1 Need for silent, efficient, eco-friendly lawn mowers to drive electric lawn mower market 224
TABLE 231 ITALY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 224
TABLE 232 ITALY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 225
TABLE 233 ITALY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 225
TABLE 234 ITALY: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 226
15.3.7 REST OF EUROPE 226
15.3.7.1 Demand for zero-emission equipment to drive market 226
TABLE 235 REST OF EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 227
TABLE 236 REST OF EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 227
TABLE 237 REST OF EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 228
TABLE 238 REST OF EUROPE: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 228
15.4 AMERICAS 229
FIGURE 43 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET SNAPSHOT 230
FIGURE 44 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION) 231
TABLE 239 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (UNITS) 231
TABLE 240 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (UNITS) 231
TABLE 241 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018-2021 (USD MILLION) 232
TABLE 242 AMERICAS: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022-2027 (USD MILLION) 232
15.4.1 US 232
15.4.1.1 Growing investments in product development to increase demand for electric off-highway equipment 232
TABLE 243 US: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 233
TABLE 244 US: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 233
TABLE 245 US: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 234
TABLE 246 US: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 234
15.4.2 CANADA 235
15.4.2.1 Ongoing trend of all-electric mining to drive market 235
TABLE 247 CANADA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 235
TABLE 248 CANADA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 236
TABLE 249 CANADA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 236
TABLE 250 CANADA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 237
15.4.3 MEXICO 237
15.4.3.1 Large mining industry drives electric mining equipment market 237
TABLE 251 MEXICO: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 238
TABLE 252 MEXICO: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 238
TABLE 253 MEXICO: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 239
TABLE 254 MEXICO: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 239
15.4.4 BRAZIL 240
15.4.4.1 Rising need to enhance health, safety, and operational efficiency to impact market positively 240
TABLE 255 BRAZIL: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 240
TABLE 256 BRAZIL: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 241
TABLE 257 BRAZIL: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 241
TABLE 258 BRAZIL: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 242
15.4.5 ARGENTINA 242
15.4.5.1 Large-scale agriculture activity drives electric tractor market 242
TABLE 259 ARGENTINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (UNITS) 243
TABLE 260 ARGENTINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (UNITS) 243
TABLE 261 ARGENTINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018-2021 (USD MILLION) 244
TABLE 262 ARGENTINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022-2027 (USD MILLION) 244
16 COMPETITIVE LANDSCAPE 245
16.1 OVERVIEW 245
16.2 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET SHARE ANALYSIS, 2021 245
TABLE 263 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET SHARE ANALYSIS, 2021 245
FIGURE 45 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET SHARE, 2021 246
16.3 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS 247
FIGURE 46 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2019-2021 247
16.4 COMPANY EVALUATION QUADRANT: ELECTRIC OFF-HIGHWAY EQUIPMENT MANUFACTURERS 247
16.4.1 STARS 247
16.4.2 EMERGING LEADERS 248
16.4.3 PERVASIVE PLAYERS 248
16.4.4 PARTICIPANTS 248
TABLE 264 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: COMPANY PRODUCT FOOTPRINT, 2021 249
TABLE 265 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: COMPANY PRODUCT FOOTPRINT, 2021 250
TABLE 266 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: COMPANY REGION FOOTPRINT, 2021 251
FIGURE 47 COMPETITIVE EVALUATION MATRIX: ELECTRIC OFF-HIGHWAY EQUIPMENT MANUFACTURERS, 2021 253
FIGURE 48 DETAILS ON KEY DEVELOPMENTS BY LEADING PLAYERS 254
16.5 COMPANY EVALUATION QUADRANT: ELECTRIC OFF-HIGHWAY EQUIPMENT BATTERY/COMPONENT MANUFACTURERS 255
16.5.1 STARS 255
16.5.2 EMERGING LEADERS 255
16.5.3 PERVASIVE PLAYERS 255
16.5.4 PARTICIPANTS 255
TABLE 267 ELECTRIC OFF-HIGHWAY EQUIPMENT BATTERY/COMPONENT MANUFACTURERS: COMPANY PRODUCT FOOTPRINT, 2021 256
TABLE 268 ELECTRIC OFF HIGHWAY EQUIPMENT MARKET: BATTERY/COMPONENT MANUFACTURERS PRODUCT FOOTPRINT, 2021 256
TABLE 269 ELECTRIC OFF HIGHWAY EQUIPMENT MARKET: BATTERY/COMPONENT MANUFACTURERS REGION FOOTPRINT. 2021 257
FIGURE 49 COMPETITIVE EVALUATION MATRIX: ELECTRIC OFF-HIGHWAY EQUIPMENT BATTERY/COMPONENT MANUFACTURERS, 2021 258
16.6 COMPETITIVE SCENARIO 259
16.6.1 NEW PRODUCT DEVELOPMENTS 259
TABLE 270 NEW PRODUCT DEVELOPMENTS, 2019-2022 259
16.6.2 DEALS 261
TABLE 271 DEALS, 2019-2022 261
16.6.3 OTHER DEVELOPMENTS, 2019-2022 264
TABLE 272 OTHER DEVELOPMENTS, 2019-2022 264
16.7 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019-2022 265
TABLE 273 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS, PARTNERSHIPS, AND SUPPLY CONTRACTS AS KEY GROWTH STRATEGIES FROM 2019 TO 2022 265
16.8 COMPETITIVE BENCHMARKING 267
TABLE 274 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: DETAILED LIST OF KEY STARTUPS/SMES 267
TABLE 275 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES] 269
16.9 OEM-WISE ELECTRIC CONSTRUCTION EQUIPMENT MODEL OFFERING 270
16.9.1 HITACHI CONSTRUCTION MACHINERY 270
16.9.2 CATERPILLAR INC. 271
16.9.3 KOMATSU 271
16.9.4 VOLVO CONSTRUCTION EQUIPMENT (VOLVO CE) 272
16.9.5 DEERE & COMPANY 272
16.9.6 DOOSAN 273
16.9.7 LIEBHERR 273
16.9.8 LIUGONG 273
16.9.9 WACKER NEUSON 273
16.9.10 JCB 274
17 COMPANY PROFILES 275
(Business overview, Products offered, Recent Developments, MNM view)*
17.1 KEY PLAYERS 275
17.1.1 HITACHI CONSTRUCTION MACHINERY 275
TABLE 276 HITACHI CONSTRUCTION MACHINERY: BUSINESS OVERVIEW 275
FIGURE 50 HITACHI CONSTRUCTION MACHINERY: COMPANY SNAPSHOT 276
TABLE 277 HITACHI CONSTRUCTION MACHINERY: PRODUCTS OFFERED 276
TABLE 278 HITACHI CONSTRUCTION MACHINERY: DEALS 277
TABLE 279 HITACHI CONSTRUCTION MACHINERY: NEW PRODUCT DEVELOPMENTS 278
17.1.2 CATERPILLAR INC. 280
TABLE 280 CATERPILLAR INC.: BUSINESS OVERVIEW 280
FIGURE 51 CATERPILLAR INC: COMPANY SNAPSHOT 281
TABLE 281 CATERPILLAR INC.: PRODUCTS OFFERED 281
TABLE 282 CATERPILLAR INC.: DEALS 282
TABLE 283 CATERPILLAR INC.: NEW PRODUCT DEVELOPMENTS 283
17.1.3 KOMATSU 285
TABLE 284 KOMATSU: BUSINESS OVERVIEW 285
FIGURE 52 KOMATSU: COMPANY SNAPSHOT 286
TABLE 285 KOMATSU: PRODUCTS OFFERED 286
TABLE 286 KOMATSU: DEALS 288
TABLE 287 KOMATSU: NEW PRODUCT DEVELOPMENTS 289
17.1.4 JCB 291
TABLE 288 JCB: BUSINESS OVERVIEW 291
TABLE 289 JCB: PRODUCTS OFFERED 291
TABLE 290 JCB: DEALS 292
TABLE 291 JCB: NEW PRODUCT DEVELOPMENTS 293
17.1.5 VOLVO CONSTRUCTION EQUIPMENT 294
TABLE 292 VOLVO CONSTRUCTION EQUIPMENT: BUSINESS OVERVIEW 294
FIGURE 53 VOLVO CONSTRUCTION EQUIPMENT: COMPANY SNAPSHOT 295
TABLE 293 VOLVO CONSTRUCTION EQUIPMENT: PRODUCTS OFFERED 295
TABLE 294 VOLVO CONSTRUCTION EQUIPMENT: DEALS 297
TABLE 295 VOLVO CONSTRUCTION EQUIPMENT: NEW PRODUCT DEVELOPMENTS 298
17.1.6 DEERE & COMPANY 300
TABLE 296 DEERE & COMPANY: BUSINESS OVERVIEW 300
FIGURE 54 DEERE & COMPANY: COMPANY SNAPSHOT 301
TABLE 297 DEERE & COMPANY: PRODUCTS OFFERED 301
TABLE 298 DEERE & COMPANY: DEALS 302
TABLE 299 DEERE & COMPANY: NEW PRODUCT DEVELOPMENTS 303
17.1.7 SANDVIK 304
TABLE 300 SANDVIK: BUSINESS OVERVIEW 304
FIGURE 55 SANDVIK: COMPANY SNAPSHOT 305
TABLE 301 SANDVIK: PRODUCTS OFFERED 305
TABLE 302 SANDVIK: DEALS 306
TABLE 303 SANDVIK: NEW PRODUCT DEVELOPMENTS 308
17.1.8 EPIROC 309
TABLE 304 EPIROC: BUSINESS OVERVIEW 309
FIGURE 56 EPIROC: COMPANY SNAPSHOT 310
TABLE 305 EPIROC: PRODUCTS OFFERED 310
TABLE 306 EPIROC: DEALS 311
17.1.9 LIEBHERR 312
TABLE 307 LIEBHERR: BUSINESS OVERVIEW 312
FIGURE 57 LIEBHERR: COMPANY SNAPSHOT 313
TABLE 308 LIEBHERR: PRODUCTS OFFERED 313
TABLE 309 LIEBHERR: DEALS 315
TABLE 310 LIEBHERR: NEW PRODUCT DEVELOPMENTS 316
17.1.10 DOOSAN 317
TABLE 311 DOOSAN: BUSINESS OVERVIEW 317
FIGURE 58 DOOSAN: COMPANY SNAPSHOT 318
TABLE 312 DOOSAN: PRODUCTS OFFERED 318
TABLE 313 DOOSAN: DEALS 319
TABLE 314 DOOSAN: NEW PRODUCT DEVELOPMENTS 320
17.2 OTHER COMPANY PROFILES 321
17.2.1 SOLECTRAC INC. 321
TABLE 315 SOLECTRAC INC.: COMPANY OVERVIEW 321
17.2.2 DANA LIMITED 322
TABLE 316 DANA LIMITED: COMPANY OVERVIEW 322
17.2.3 DEUTZ AG 323
TABLE 317 DEUTZ AG: COMPANY OVERVIEW 323
17.2.4 FENDT 324
TABLE 318 FENDT: COMPANY OVERVIEW 324
17.2.5 HUSQVARNA 325
TABLE 319 HUSQVARNA: COMPANY OVERVIEW 325
17.2.6 STIHL HOLDING AG AND CO. KG 326
TABLE 320 STIHL HOLDING AG AND CO. KG: COMPANY OVERVIEW 326
17.2.7 XUZHOU CONSTRUCTION MACHINERY GROUP (XCMG) 327
TABLE 321 XUZHOU CONSTRUCTION MACHINERY GROUP (XCMG): COMPANY OVERVIEW 327
17.2.8 SANY HEAVY INDUSTRIES 328
TABLE 322 SANY HEAVY INDUSTRIES: COMPANY OVERVIEW 328
17.2.9 KUBOTA CORPORATION 329
TABLE 323 KUBOTA CORPORATION: COMPANY OVERVIEW 329
17.2.10 KOBELCO CONSTRUCTION MACHINERY EUROPE B.V. 329
TABLE 324 KOBELCO CONSTRUCTION MACHINERY EUROPE B.V.: COMPANY OVERVIEW 329
17.2.11 BHARAT EARTH MOVERS LIMITED 330
TABLE 325 BHARAT EARTH MOVERS LIMITED: COMPANY OVERVIEW 330
17.2.12 CRRC CORPORATION 331
TABLE 326 CRRC CORPORATION: COMPANY OVERVIEW 331
17.2.13 CNH 332
TABLE 327 CNH: COMPANY OVERVIEW 332
17.2.14 WACKER NEUSON 333
TABLE 328 WACKER NEUSON: COMPANY OVERVIEW 333
17.2.15 TAKEUCHI 334
TABLE 329 TAKEUCHI: COMPANY OVERVIEW 334
17.2.16 HYUNDAI HEAVY INDUSTRIES 334
TABLE 330 HYUNDAI HEAVY INDUSTRIES: COMPANY OVERVIEW 334
17.2.17 LIUGONG 335
TABLE 331 LIUGONG: COMPANY OVERVIEW 335
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
?
18 RECOMMENDATIONS FROM MARKETSANDMARKETS 336
18.1 ASIA PACIFIC TO BE POTENTIAL MARKET FOR ELECTRIC CONSTRUCTION EQUIPMENT 336
18.2 HYDROGEN-FUELED CONSTRUCTION EQUIPMENT TO CREATE NEW OPPORTUNITIES 336
18.3 ELECTRIFICATION OF UNDERGROUND MINING EQUIPMENT TO BE SIGNIFICANT FOR OEMS 337
18.4 RENTAL ELECTRIC CONSTRUCTION EQUIPMENT ALONG WITH TELEMATICS TO PROPEL MARKET GROWTH 338
18.5 GROWTH OF AUTONOMOUS TRACTORS IN COMING YEARS 338
18.6 CONCLUSION 339
19 APPENDIX 340
19.1 INSIGHTS FROM INDUSTRY EXPERTS 340
19.2 DISCUSSION GUIDE 341
19.3 KNOWLEDGESTORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 346
19.4 CUSTOMIZATION OPTIONS 348
19.4.1 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, BY COUNTRY 348
19.4.1.1 Construction 348
19.4.1.2 Mining 348
19.4.1.3 Agriculture 348
19.4.1.4 Gardening 348
19.4.2 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY PROPULSION, BY COUNTRY 348
19.4.2.1 Electric 348
19.4.2.2 Hybrid 348
19.4.3 ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET FOR ADDITIONAL COUNTRIES 348
19.4.3.1 Australia 348
19.4.3.2 Scandinavian Countries 348
19.4.4 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 5) 348
19.5 RELATED REPORTS 349
19.6 AUTHOR DETAILS 350
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