The global electric excavator market accounted for US$ 5,056.3 Mn in 2020 with a considerable CAGR of 19% during the forecast period of 2021 to 2028.
Report coverage
| Market |
Electric Excavator Market |
| Analysis Period |
2017 - 2028 |
| Base Year |
2020 |
| Forecast Data |
2021 - 2028 |
| Segments Covered |
By Propulsion, By Product Type, By End-use Industry, By Power, and By Geography |
| Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled |
Bobcat (Doosan), Komatsu, Volvo Construction Equipment, Kubota, Hyundai Construction Equipment, Wacker Neuson, LiuGong, Mecalac, Hitachi, Caterpillar, SENNEBOGEN, and Others.
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope |
10 hrs of free customization and expert consultation
|
Automobile industry is shifting to clean & green energy and electric or battery-operated vehicles are the future of this industry; similarly, the off-highway vehicle segment is also rapidly converting to electric. More than 156 electric vehicle models are available for purchase in agriculture, construction, mining, logistics, and material handling until August 2020.
An electric excavator is a component of heavy construction equipment that is powered by electricity and is used to dig holes and trenches as well as for material handling, mining, construction, forestry mulching, and other similar tasks. Instead of a conventional internal combustion engine, the electric excavator is powered by a massive kilowatt-hour battery pack, and it is classified as a low or zero-emission equipment vehicle because no carbon dioxide, nitrogen oxide, or other particulate matter is emitted into the atmosphere. For the last few years, the global electric excavator market has been rapidly expanding. It is expected to grow at a rapid pace in the near future.
Impact of COVID 19
Despite the impact of the COVID-19 pandemic, which resulted in a sharp reduction in auto sales in the second quarter of 2020, zero-emission vehicle (ZEV) sales kept a 3.3 percent market share in the first half of 2020. Furthermore, it has compelled governments all over the world to impose lockdowns in their individual countries, resulting in factories being shut down partially or totally. Export and manufacturing companies were forced to put their operations on hold for the time being. This has had a negative influence on the global market for electric excavators.
Industry evolution and booming infrastructure, combined with rising pollution, are driving demand for electric excavators.
Electric excavators are particularly appealing because of the numerous opportunities for energy recuperation provided by boom and bucket movements throughout the daily duty cycle. However, many OEMs are considering developing electric equipment. For instance, Cummins represented an electric mini excavator prototype developed in collaboration with Hyundai in 2019. A Cummins BM4.4E flexible battery module, each producing 4.4 kWh of power, is the powerhouse of the excavator. It can power a full work shift and recharge in three hours. Due to less emission and noise pollution, Volvo Construction Equipment announces stoppage of diesel excavators and wheel loaders productions from mid-2020 and will replace them with compact electric excavators such as ECR25 and L25 electric wheel loader.
Electric excavators are designed and built by equipment and machinery manufacturers for a wide range of purposes, including river dredging and hole digging, as well as the demolition of unnecessary infrastructure and construction. Manufacturers are continually upgrading battery packs and electric motors to boost the power of the electric excavator so that it can do a variety of tasks.
Higher cost of battery to hamper the electric excavator market
In the electric excavator, the battery represents a significant portion of the total vehicle/equipment cost. In the current market, the high cost of batteries and large maintenance costs are the major drawbacks in the electric excavators market. Furthermore, taking a long time to charge and less fast charging infrastructure of electric excavators are also anticipated to hamper the electric excavator market in the near future.
Competitive Landscape
The global electric excavator market is characterized by the presence of experienced and established players. Key companies include Bobcat (Doosan), Komatsu, Volvo Construction Equipment, Kubota, Hyundai Construction Equipment, Wacker Neuson, LiuGong, Mecalac, Hitachi, Caterpillar, SENNEBOGEN, and Others.
- In 2017, Volvo CE revealed its EX02 compact electric excavator prototype at the Volvo Group Innovation Summit. The EX02 model has two li-ion batteries instead of conventional combustion engine and produces zero emissions. The batteries total up to 38 kWh that provides upto 8 hours of digging in single charge
- In June 2020, XCMG and Cummins collaborated to design and build a 3.5t electric excavator as a Propulsion demonstrator and potential future equipment solution. According to Cummins, the excavator can run for an entire eight-hour shift on a single charge of less than six hours. Because of the short charge time, equipment can be charged overnight, eliminating downtime and allowing for off-peak energy savings.
- In June 2021, Honda and Komatsu have announced the commencement of joint development of electrified micro excavators with removable batteries or a battery-sharing system based on the Honda Mobile Power Pack (MPP). The Honda MPP has the inherent benefit of allowing continuous usage of electric machinery without the need to recharge the battery. The PC01, which is equipped with the Honda MPP, will streamline power distribution and improve consumer convenience.
Market Segmentation
Market By Propulsion
Market By Product Type
- Wheeled
- Mini/ Compact
- Crawler
- Others
Market By End-use Industry
- Construction
- Mining
- Forestry
- Others
Market By Power
- Under 10 hp (power around 2 Ton)
- 10 - 20 hp (power around 3.5 to 4 Ton)
- Over 20hp
Market By Geography
- North America
- Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
CHAPTER 1. Industry Overview of Electric excavator
1.1. Definition and Scope
1.1.1. Definition of Electric excavator
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Electric excavator market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Electric excavator By Propulsion
1.2.3. Electric excavator By Product Type
1.2.4. Electric excavator By End-Use Industry
1.2.5. Electric excavator by Regions
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restrain 1
3.2.2. Restrain 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Electric excavator Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Electric excavator Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Cost Structure Analysis
3.8.1. Price Trend of Key Raw Materials
3.8.2. Raw Material Suppliers
3.8.3. Proportion of Manufacturing Cost Structure
3.8.3.1. Raw Material
3.8.3.2. Labor Cost
3.8.3.3. Manufacturing Expense
3.9. Regulatory Compliance
3.10. Competitive Landscape, 2019
3.10.1. Player Positioning Analysis
3.10.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Manufacturing Plant Analysis
4.1. Manufacturing Plant Location and Establish Date of Major Manufacturers in 2019
4.2. R&D Status and Product Type Source of Electric excavator Major Manufacturers in 2019
CHAPTER 5. Electric excavator By Propulsion
5.1. Introduction
5.2. Electric excavator Revenue By Propulsion
5.2.1. Electric excavator Revenue (US$ Bn) and Forecast, By Propulsion, 2017-2028
5.2.2. Pure Electric
5.2.2.1. Pure Electric Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
5.2.3. Hybrid
5.2.3.1. Hybrid Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 6. Electric excavator Market Revenue By Product Type
6.1. Introduction
6.2. Electric excavator Revenue (US$ Bn) By Product Type
6.2.1. Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
6.2.2. Wheeled
6.2.2.1. Wheeled Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
6.2.3. Mini/ Compact
6.2.3.1. Mini/ Compact Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
6.2.4. Crawler
6.2.4.1. Crawler Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
6.2.5. Others
6.2.5.1. Others Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 7. Electric excavator Market By End-use Industry
7.1. Introduction
7.2. Electric excavator Revenue (US$ Bn) By Product Type
7.2.1. Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
7.2.2. Construction
7.2.2.1. Construction Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
7.2.3. Mining
7.2.3.1. Mining Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
7.2.4. Forestry
7.2.4.1. Forestry Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
7.2.5. Others
7.2.5.1. Others Market Revenue (US$ Bn) and Growth Rate (%), 2017-2028
CHAPTER 8. North America Electric excavator Market By Country
8.1. North America Electric excavator Overview
8.2. U.S.
8.2.1. U.S. Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
8.2.2. U.S. Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
8.2.3. U.S. Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
8.3. Canada
8.3.1. Canada Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
8.3.2. Canada Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
8.3.3. Canada Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
8.4. North America PEST Analysis
CHAPTER 9. Europe Electric excavator Market By Country
9.1. Europe Electric excavator Overview
9.2. U.K.
9.2.1. U.K. Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
9.2.2. U.K. Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
9.2.3. U.K. Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
9.3. Germany
9.3.1. Germany Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
9.3.2. Germany Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
9.3.3. Germany Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
9.4. France
9.4.1. France Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
9.4.2. France Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
9.4.3. France Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
9.5. Spain
9.5.1. Spain Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
9.5.2. Spain Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
9.5.3. Spain Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
9.6. Rest of Europe
9.6.1. Rest of Europe Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
9.6.2. Rest of Europe Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
9.6.3. Rest of Europe Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
9.7. Europe PEST Analysis
CHAPTER 10. Asia Pacific Electric excavator Market By Country
10.1. Asia Pacific Electric excavator Overview
10.2. China
10.2.1. China Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.2.2. China Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.2.3. China Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.3. Japan
10.3.1. Japan Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.3.2. Japan Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.3.3. Japan Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.4. India
10.4.1. India Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.4.2. India Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.4.3. India Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.5. Australia
10.5.1. Australia Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.5.2. Australia Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.5.3. Australia Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.6. South Korea
10.6.1. South Korea Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.6.2. South Korea Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.6.3. South Korea Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.7. Rest of Asia-Pacific
10.7.1. Rest of Asia-Pacific Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
10.7.2. Rest of Asia-Pacific Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
10.7.3. Rest of Asia-Pacific Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
10.8. Asia Pacific PEST Analysis
CHAPTER 11. Latin America Electric excavator Market By Country
11.1. Latin America Electric excavator Overview
11.2. Brazil
11.2.1. Brazil Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
11.2.2. Brazil Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
11.2.3. Brazil Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
11.3. Mexico
11.3.1. Mexico Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
11.3.2. Mexico Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
11.3.3. Mexico Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
11.4. Rest of Latin America
11.4.1. Rest of Latin America Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
11.4.2. Rest of Latin America Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
11.4.3. Rest of Latin America Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
11.5. Latin America PEST Analysis
CHAPTER 12. Middle East & Africa Electric excavator Market By Country
12.1. Middle East & Africa Electric excavator Overview
12.2. GCC
12.2.1. GCC Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
12.2.2. GCC Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
12.2.3. GCC Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
12.3. South Africa
12.3.1. South Africa Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
12.3.2. South Africa Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
12.3.3. South Africa Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
12.4. Rest of Middle East & Africa
12.4.1. Rest of Middle East & Africa Electric excavator Revenue (US$ Bn) and Forecast By Propulsion, 2017-2028
12.4.2. Rest of Middle East & Africa Electric excavator Revenue (US$ Bn) and Forecast By Product Type, 2017-2028
12.4.3. Rest of Middle East & Africa Electric excavator Revenue (US$ Bn) and Forecast By End-use Industry, 2017-2028
12.5. Middle East & Africa PEST Analysis
CHAPTER 13. Player Analysis Of Electric excavator
13.1. Electric excavator Company Share Analysis
13.2. Competition Matrix
13.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2. New Product Type Launches and Product Type Enhancements
13.2.3. Mergers And Acquisition In Global Electric excavator market
13.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14. COMPANY PROFILE
14.1. Bobcat (Doosan)
14.1.1. Company Snapshot
14.1.2. Business Overview
14.1.3. Financial Overview
14.1.3.1. Revenue (US$ Bn), 2020
14.1.3.2. Bobcat (Doosan) 2020 Electric excavator Business Regional Distribution
14.1.4. Product Type/ Service and Specification
14.1.5. Recent Developments & Business Strategy
14.1.6. Manufacturing Plant Footprint Analysis
14.2. Komatsu
14.3. Volvo Construction equipment
14.4. Kubota
14.5. Hyundai Construction Equipment
14.6. Wacker Neuson
14.7. LiuGong
14.8. Mecalac
14.9. Hitachi
14.10. Caterpillar
14.11. SENNEBOGEN
