(EMAILWIRE.COM, January 22, 2023 ) As per Maximize Market research, a global business research and consultancy firm, the total global market for “Electric Construction Equipment Market” was USD 142.5 Bn in 2021 and is expected to grow at CAGR of 6.8% over the forecast period to reach USD 241.20 Bn by 2029.

Electric Construction Equipment Market Scope and Research Methodology

The report on Electric Construction Equipment Market provides an in-depth analysis covering key insights that include drivers, challenges, opportunities and restraints to the growth of the market. The report also offers a detailed regional and segment-wise analysis of the Electric Construction Equipment Market.

Data collection techniques include both primary and secondary ones. Where the main strategies involved conducting telephone interviews with subject matter experts, market leaders, business owners, and marketers as well as surveys and questionnaire distribution. A list of secondary sources was used to compile the data. In addition to paid databases, this also includes trade periodicals, annual reports, white papers, and releases from businesses. It also includes the websites of numerous organisations and the government. For the analysis, research tools such as SWOT, PESTLE and Porter’s Five Force analysis was used to understand the various factors affecting the Electric Construction Equipment Market.

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Electric Construction Equipment Market Dynamics

The electrification of mining equipment is expected to be driven by the mining industry's need for sustainable equipment to reduce ventilation costs during the forecast period. However, the demand for such battery-powered and hybrid construction equipment would be driven by the strict noise and emission rules within city borders.

Electric Construction Equipment Market Regional Insights

Asia-Pacific tops the world in electric construction equipment sales. China, India, and Japan, who collectively own a substantial chunk of the industry. The South-North water transfer plant project in China, which is expected to be finished by 2050, will increase demand for construction equipment over the following three decades.

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Electric Construction Equipment Market Segmentation

By Product Type

Forklift, Loader, Excavator, AWP

By Propulsion

Hybrid-electric and, battery-electric

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Electric Construction Equipment Market Key Manufacturers include:

CNH Industrial N.V., Doosan Corporation, Escorts Limited, Hitachi Construction Machinery Co., Ltd., Hyundai Construction Equipment Co., Ltd., J C Bamford Excavators Ltd., Deere & Company., Kobelco Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr-International AG, Manitou BF, HÄ°DROMEK, Sany Heavy Industry Co., Ltd., Sumitomo Heavy Industries, Ltd., Terex Corporation , Zoomlion Heavy Industry Science and Technology Co., Ltd

Maximize Market Research is leading engineering equipment research firm, has also published the following reports:

Machine Tool Market -The market size is expected to reach USD 155.44 billion by 2029 at a CAGR of 6 percent during the forecast period.

Metal-Cutting Machine Market -The market size is expected to reach USD 10.29 billion by 2029 at a CAGR of 5.03 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

Contact Information:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Dnyaneshwari Yevale
Tel: +91 9607365656
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