Report coverage

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

• Pure Electric
• Hybrid

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
  • U.S.
  • Canada
• 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