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

Abstract
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 (500 kWh), battery type (lithium-ion, lead-acid, and other batteries), power output (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.

Content
Table of Contents

1INTRODUCTION42
1.1STUDY OBJECTIVES42
1.2MARKET DEFINITION43
1.3INCLUSIONS & EXCLUSIONS43
TABLE 1INCLUSIONS & EXCLUSIONS FOR ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET43
1.4STUDY SCOPE44
1.4.1MARKETS COVERED44
FIGURE 1MARKET SEGMENTATION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET44
1.4.2YEARS CONSIDERED45
1.5CURRENCY CONSIDERED45
1.6PACKAGE SIZE45
1.7LIMITATIONS45
1.8STAKEHOLDERS46
1.9SUMMARY OF CHANGES46
2RESEARCH METHODOLOGY48
2.1RESEARCH DATA48
FIGURE 2RESEARCH DESIGN49
FIGURE 3RESEARCH METHODOLOGY MODEL50
2.2SECONDARY DATA50
2.2.1LIST OF KEY SECONDARY SOURCES TO ESTIMATE ELECTRIC OFF-HIGHWAY EQUIPMENT SALES51
2.2.2LIST OF KEY SECONDARY SOURCES TO ESTIMATE ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET SIZE52
2.2.3KEY DATA FROM SECONDARY SOURCES52
2.3PRIMARY DATA53
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS53
2.3.1SAMPLING TECHNIQUES & DATA COLLECTION METHODS53
2.3.1.1Primary participants54
2.4MARKET SIZE ESTIMATION54
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING54
2.4.1BOTTOM-UP APPROACH55
FIGURE 6BOTTOM-UP APPROACH: ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET55
2.4.2TOP-DOWN APPROACH56
FIGURE 7TOP-DOWN APPROACH: ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET56
2.5FACTOR ANALYSIS57
2.6MARKET BREAKDOWN AND DATA TRIANGULATION58
FIGURE 8DATA TRIANGULATION58
2.7ASSUMPTIONS59
2.8RESEARCH LIMITATIONS61
3EXECUTIVE SUMMARY62
3.1REPORT SUMMARY62
FIGURE 9ELECTRIC CONSTRUCTION EQUIPMENT MARKET OUTLOOK62
FIGURE 10ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022 & 2027 (USD MILLION)63
4PREMIUM INSIGHTS64
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC CONSTRUCTION EQUIPMENT MARKET64
FIGURE 11GROWING NEED TO MINIMIZE EMISSIONS AND VENTILATION COSTS IN UNDERGROUND MINING TO DRIVE MARKET64
4.2ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE65
FIGURE 12DUMP TRUCK SEGMENT TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET FROM 2022 TO 202765
4.3ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION65
FIGURE 13ELECTRIC MINING EQUIPMENT WOULD SHOWCASE LARGEST DEMAND OVER FORECAST PERIOD65
4.4ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE66
FIGURE 14LITHIUM-ION WOULD BE MOST PREFERRED BATTERY TYPE IN ELECTRIC OFF-HIGHWAY EQUIPMENT DURING FORECAST PERIOD66
4.5ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY66
FIGURE 15<50 KWH SEGMENT ESTIMATED TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET IN 202266
4.6ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION67
FIGURE 16BATTERY-ELECTRIC EQUIPMENT WOULD BE PREFERRED OVER HYBRID-ELECTRIC EQUIPMENT DURING FORECAST PERIOD67
4.7ELECTRIC TRACTOR MARKET, BY PROPULSION67
FIGURE 17BATTERY-ELECTRIC TRACTORS WOULD BE PREFERRED OVER HYBRID-ELECTRIC TRACTORS OVER FORECAST PERIOD67
4.8ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT68
FIGURE 18<50 HP SEGMENT ESTIMATED TO LEAD ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET IN 202268
4.9ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION68
FIGURE 19HYBRID-ELECTRIC SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD68
4.10ELECTRIC AGRICULTURAL EQUIPMENT MARKET, BY EQUIPMENT TYPE69
FIGURE 20ELECTRIC LAWN MOWER SEGMENT TO LEAD ELECTRIC OFF-HIGHWAY MARKET DURING FORECAST PERIOD69
4.11ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION69
FIGURE 21AMERICAS ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 202269
5MARKET OVERVIEW70
5.1INTRODUCTION70
5.2MARKET DYNAMICS71
FIGURE 22ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: MARKET DYNAMICS71
5.2.1DRIVERS71
5.2.1.1Strict vehicular emission regulations71
FIGURE 23NON-ROAD MOBILE MACHINERY (NRMM) EMISSION REGULATION OUTLOOK, 2019–203072
TABLE 2COMPARISON BETWEEN BHARAT STAGE IV AND BHARAT STAGE V REGULATIONS FOR PM LIMITS72
TABLE 3COMPARISON BETWEEN BHARAT STAGE IV AND BHARAT STAGE V REGULATIONS FOR PN LIMITS73
TABLE 4COMPARISON BETWEEN EURO STAGE IV, V, AND VI REGULATIONS FOR HEAVY-DUTY DIESEL ENGINES, IN G/KWH73
5.2.1.2High ventilation costs in underground mining74
TABLE 5AIR QUANTITY COMPARISON BETWEEN LIGNITE AND ANTHRACITE MINES74
TABLE 6COST COMPARISON BETWEEN DIESEL AND ELECTRIC MINING EQUIPMENT75
5.2.1.3Rising demand for low-noise construction activities in residential areas75
TABLE 7CONSTRUCTION EQUIPMENT NOISE EMISSION LEVELS FOR RESIDENTIAL AREAS, BY COUNTRY75
TABLE 8LOW NOISE ELECTRIC CONSTRUCTION EQUIPMENT BY KEY OEMS76
5.2.2RESTRAINTS77
5.2.2.1Higher initial cost than conventional ICE equipment77
TABLE 9COST COMPARISON: ELECTRIC VS DIESEL POWERED OFF-HIGHWAY EQUIPMENT, BY OEM77
5.2.3OPPORTUNITIES78
5.2.3.1Development of long-range and fast-charging battery technology78
5.2.3.2Intermediate demand for hybrid and alternate fuel equipment79
5.2.4CHALLENGES79
5.2.4.1Limited compatibility, interchangeability, and standardization of electric off-highway equipment for long-haul applications79
TABLE 10RANGE COMPARISON: OFF-HIGHWAY DIESEL TRUCK VS BATTERY ELECTRIC TRUCK80
5.2.4.2Need for efficient thermal management system for batteries in extreme working conditions80
TABLE 11WORKING TEMPERATURE COMPARISON FOR OFF-HIGHWAY EQUIPMENT80
5.3PORTER’S FIVE FORCES ANALYSIS81
TABLE 12PORTER’S FIVE FORCES ANALYSIS81
FIGURE 24PORTER’S FIVE FORCES ANALYSIS82
5.3.1THREAT OF NEW ENTRANTS82
5.3.2THREAT OF SUBSTITUTES83
5.3.3BARGAINING POWER OF SUPPLIERS83
5.3.4BARGAINING POWER OF BUYERS83
5.3.5INTENSITY OF COMPETITIVE RIVALRY83
5.4TRADE ANALYSIS84
5.4.1IMPORT TRADE DATA84
TABLE 13MECHANICAL SHOVELS, EXCAVATORS, AND SHOVEL LOADERS - IMPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD)84
TABLE 14BULLDOZERS AND ANGLEDOZERS - IMPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD)84
5.4.2EXPORT TRADE DATA85
TABLE 15MECHANICAL SHOVELS, EXCAVATORS, AND SHOVEL LOADERS - EXPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD)85
TABLE 16BULLDOZERS AND ANGLEDOZERS - EXPORT TRADE DATA, BY KEY COUNTRIES, 2021 (USD)85
5.5ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS86
FIGURE 25REVENUE SHIFT FOR ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET86
5.6CASE STUDIES86
5.6.1XINGWANXIANG GROUP’S ADAPTION OF ELECTRIC MINING EQUIPMENT IN MINUS 30 DEGREE TEMPERATURE86
5.6.2FIRST MODE’S SUSTAINABLE SOLUTION TO ANGLO AMERICAN’S CARBON NEUTRAL COMMITMENT87
5.6.3BERLINER STADTREINIGUNGSBETRIEBE (BSR) MANAGES CITY WASTE USING ELECTRIC MOBILITY87
5.6.4BRUCEJACK GETS ITS FULLY ELECTRIC FLEET87
5.6.5ELECTRIFICATION OF CONVENTIONAL DIESEL-POWERED EXCAVATOR88
5.7PATENT ANALYSIS88
5.8SUPPLY CHAIN ANALYSIS92
FIGURE 26ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: SUPPLY CHAIN ANALYSIS92
5.9ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET ECOSYSTEM93
FIGURE 27ELECTRIC CONSTRUCTION EQUIPMENT MARKET: ECOSYSTEM93
TABLE 17ROLE OF COMPANIES IN ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET ECOSYSTEM94
5.10REGULATORY ANALYSIS95
5.10.1ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET: QUALITY STANDARDS95
TABLE 18REGULATIONS/STANDARDS FOR ELECTRIC CONSTRUCTION EQUIPMENT96
5.11PRICING ANALYSIS97
5.11.1ASP ANALYSIS, BY APPLICATION & REGION, 202197
TABLE 19ASP ANALYSIS, BY APPLICATION & REGION, 202197
5.11.2ASP ANALYSIS, BY EQUIPMENT TYPE & REGION, 202198
TABLE 20ASP ANALYSIS, BY EQUIPMENT TYPE & REGION, 202198
5.12TECHNOLOGY ANALYSIS98
5.12.1OVERVIEW98
5.12.1.1Autonomous construction equipment99
5.12.1.2Monitoring and diagnosis via connected technologies99
5.12.1.3Safer braking in deep mining sites with regenerative braking99
5.12.1.4Agricultural Equipment Automation99
5.13KEY CONFERENCES AND EVENTS IN 2022–2023100
5.14KEY STAKEHOLDERS & BUYING CRITERIA101
5.14.1KEY STAKEHOLDERS IN BUYING PROCESS101
FIGURE 28INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY APPLICATION101
TABLE 21INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS (%)102
5.14.2BUYING CRITERIA102
FIGURE 29KEY BUYING CRITERIA FOR TOP THREE ELECTRIC CONSTRUCTION EQUIPMENT APPLICATIONS102
TABLE 22KEY BUYING CRITERIA FOR TOP THREE ELECTRIC CONSTRUCTION EQUIPMENT APPLICATIONS103
6ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE104
6.1INTRODUCTION105
6.1.1RESEARCH METHODOLOGY105
6.1.2ASSUMPTIONS105
6.1.3INDUSTRY INSIGHTS105
FIGURE 30ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)106
TABLE 23ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)106
TABLE 24ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)106
TABLE 25ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)107
TABLE 26ELECTRIC CONSTRUCTION MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)107
6.2ELECTRIC EXCAVATOR108
6.2.1ELECTRIC MINI EXCAVATORS HOLD MAXIMUM SHARE IN ELECTRIC EXCAVATOR SEGMENT108
TABLE 27ELECTRIC EXCAVATOR MARKET, BY REGION, 2018–2021 (UNITS)108
TABLE 28ELECTRIC EXCAVATOR MARKET, BY REGION, 2022–2027 (UNITS)108
TABLE 29ELECTRIC EXCAVATOR MARKET, BY REGION, 2018–2021 (USD MILLION)109
TABLE 30ELECTRIC EXCAVATOR MARKET, BY REGION, 2022–2027 (USD MILLION)109
6.3ELECTRIC LOADER109
6.3.1INCREASING DEMAND FOR COMPACT ELECTRIC LOADERS AND SKID STEER LOADERS GLOBALLY109
TABLE 31ELECTRIC LOADER MARKET, BY REGION, 2018–2021 (UNITS)110
TABLE 32ELECTRIC LOADER MARKET, BY REGION, 2022–2027 (UNITS)110
TABLE 33ELECTRIC LOADER MARKET, BY REGION, 2018–2021 (USD MILLION)110
TABLE 34ELECTRIC LOADER MARKET, BY REGION, 2022–2027 (USD MILLION)110
6.4ELECTRIC MOTOR GRADER111
6.4.1ELECTRIFICATION OF MOTOR GRADERS STILL IN NASCENT STAGE111
TABLE 35ELECTRIC MOTOR GRADER MARKET, BY REGION, 2018–2021 (UNITS)111
TABLE 36ELECTRIC MOTOR GRADER MARKET, BY REGION, 2022–2027(UNITS)111
TABLE 37ELECTRIC MOTOR GRADER MARKET, BY REGION, 2018–2021 (USD MILLION)111
TABLE 38ELECTRIC MOTOR GRADER MARKET, BY REGION, 2022–2027(USD MILLION)112
6.5ELECTRIC DOZER112
6.5.1ELECTRIC DOZERS PREFERRED OWING TO NOISE-FREE AND EMISSION-FREE OPERATION112
TABLE 39ELECTRIC DOZER MARKET, BY REGION, 2018–2021 (UNITS)112
TABLE 40ELECTRIC DOZER MARKET, BY REGION, 2022–2027 (UNITS)113
TABLE 41ELECTRIC DOZER MARKET, BY REGION, 2018–2021 (USD MILLION)113
TABLE 42ELECTRIC DOZER MARKET, BY REGION, 2022–2027 (USD MILLION)113
6.6ELECTRIC DUMP TRUCK114
6.6.1ELECTRIC DUMP TRUCKS UTILIZED FOR CARRYING MATERIALS IN SURFACE AND UNDERGROUND MINING ACTIVITIES114
TABLE 43ELECTRIC DUMP TRUCK MARKET, BY REGION, 2018–2021 (UNITS)114
TABLE 44ELECTRIC DUMP TRUCK MARKET, BY REGION, 2022–2027 (UNITS)114
TABLE 45ELECTRIC DUMP TRUCK MARKET, BY REGION, 2018–2021 (USD MILLION)114
TABLE 46ELECTRIC DUMP TRUCK MARKET, BY REGION, 2022–2027 (USD MILLION)115
6.7ELECTRIC LOAD-HAUL-DUMP LOADER (LHD)115
6.7.1ELECTRIC LHD LOADER PROVIDES RUGGEDNESS, HIGH MANEUVERABILITY, AND PRODUCTIVITY115
TABLE 47ELECTRIC LHD MARKET, BY REGION, 2018–2021 (UNITS)115
TABLE 48ELECTRIC LHD MARKET, BY REGION, 2022–2027 (UNITS)116
TABLE 49ELECTRIC LHD MARKET, BY REGION, 2018–2021 (USD MILLION)116
TABLE 50ELECTRIC LHD MARKET, BY REGION, 2022–2027 (USD MILLION)116
7ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY117
7.1INTRODUCTION118
7.1.1RESEARCH METHODOLOGY118
7.1.2ASSUMPTIONS118
7.1.3INDUSTRY INSIGHTS118
FIGURE 31ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022 VS. 2027 (USD MILLION)119
TABLE 51ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2018–2021 (UNITS)119
TABLE 52ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022–2027 (UNITS)120
TABLE 53ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2018–2021 (USD MILLION)120
TABLE 54ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY CAPACITY, 2022–2027 (USD MILLION)120
7.2<50 KWH121
7.2.1<50 KWH SUITED FOR SMALL AND COMPACT EQUIPMENT121
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
7.350–200 KWH122
7.3.150–200 KWH BATTERY CAPACITY SEGMENT LEADING DUE TO HIGHER DEMAND FOR SMALL AND MID-RANGE OFF-HIGHWAY EQUIPMENT122
TABLE 5950–200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)122
TABLE 6050–200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)123
TABLE 6150–200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)123
TABLE 6250–200 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)123
7.4200–500 KWH124
7.4.1MOTOR GRADERS, DOZERS, MID-SIZED EXCAVATORS, AND LHD PRIMARILY AVAILABLE WITH BATTERY CAPACITY OF 200–500 KWH124
TABLE 63200–500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)124
TABLE 64200–500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)124
TABLE 65200–500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)124
TABLE 66200–500 KWH: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)125
7.5>500 KWH125
7.5.1>500 KWH BATTERY CAPACITY EQUIPMENT YET TO BE FULLY COMMERCIALIZED DUE TO POWER-TO-WEIGHT RATIO ISSUES125
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
8ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE127
8.1INTRODUCTION128
8.1.1RESEARCH METHODOLOGY128
8.1.2ASSUMPTIONS128
8.1.3INDUSTRY INSIGHTS128
FIGURE 32ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022 VS. 2027 (USD MILLION)129
TABLE 71ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2018–2021 (UNITS)129
TABLE 72ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022–2027 (UNITS)129
TABLE 73ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2018–2021 (USD MILLION)130
TABLE 74ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY BATTERY TYPE, 2022–2027 (USD MILLION)130
8.2LITHIUM-ION130
8.2.1HIGH ENERGY DENSITY AND LONGER BATTERY BACKUP OVER OTHER BATTERIES DRIVE LITHIUM-ION BATTERY MARKET130
TABLE 75LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021(UNITS)131
TABLE 76LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)131
TABLE 77LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021(USD MILLION)131
TABLE 78LITHIUM-ION: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)131
8.3LEAD-ACID132
8.3.1LOW MANUFACTURING COST DRIVES DEMAND FOR LEAD-ACID BATTERIES IN ELECTRIC CONSTRUCTION EQUIPMENT132
TABLE 79LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021(UNITS)132
TABLE 80LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)132
TABLE 81LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021(USD MILLION)133
TABLE 82LEAD-ACID: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)133
8.4OTHER BATTERIES133
8.4.1THERMAL MANAGEMENT CONCERNS WITH OTHER TYPES OF BATTERIES133
TABLE 83OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021(UNITS)134
TABLE 84OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)134
TABLE 85OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)134
TABLE 86OTHER BATTERIES: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)134
9ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT136
9.1INTRODUCTION137
9.1.1RESEARCH METHODOLOGY137
9.1.2ASSUMPTIONS137
9.1.3INDUSTRY INSIGHTS138
FIGURE 33ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022 VS. 2027 (USD MILLION)138
TABLE 87ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2021 (UNITS)138
TABLE 88ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022–2027 (UNITS)139
TABLE 89ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)139
TABLE 90ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)139
9.2<50 HP140
9.2.1RISING DEMAND FOR COMPACT ELECTRIC OFF-HIGHWAY EQUIPMENT TO DRIVE SEGMENT140
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
9.350–150 HP141
9.3.1INCREASING LAUNCHES OF LOW TO MEDIUM-POWERED ELECTRIC OFF-HIGHWAY EQUIPMENT TO DRIVE SEGMENT141
TABLE 9550–150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)141
TABLE 9650–150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)142
TABLE 9750–150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)142
TABLE 9850–150 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)142
9.4150–300 HP143
9.4.1AMERICAS: LEADING MARKET FOR 150–300 HP TRACTORS143
TABLE 99150–300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)143
TABLE 100150–300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)143
TABLE 101150–300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)143
TABLE 102150–300 HP: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)144
9.5>300 HP144
9.5.1ELECTRIC OFF-HIGHWAY EQUIPMENT WITH >300 HP SUITABLE FOR LARGE CONSTRUCTION AND MINING OPERATIONS144
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
10ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION146
10.1INTRODUCTION147
10.1.1RESEARCH METHODOLOGY147
10.1.2ASSUMPTIONS147
10.1.3INDUSTRY INSIGHTS148
FIGURE 34ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION)148
TABLE 107ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2018–2021 (UNITS)148
TABLE 108ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022–2027 (UNITS)149
TABLE 109ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2018–2021 (USD MILLION)149
TABLE 110ELECTRIC OFF-HIGHWAY EQUIPMENT MARKET, BY APPLICATION, 2022–2027 (USD MILLION)149
10.2CONSTRUCTION150
10.2.1EMISSION AND NOISE REGULATIONS IN URBAN OR CLOSED CONSTRUCTION AREAS TO DRIVE DEMAND FOR ELECTRIC CONSTRUCTION EQUIPMENT150
TABLE 111ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)150
TABLE 112ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)150
TABLE 113ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)151
TABLE 114ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)151
10.3MINING151
10.3.1REDUCTION IN VENTILATION COSTS IN UNDERGROUND MINING TO DRIVE MARKET151
TABLE 115ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)152
TABLE 116ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)152
TABLE 117ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)152
TABLE 118ELECTRIC MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)152
10.4GARDENING153
10.4.1EASE OF INCORPORATING ELECTRIC DRIVE SYSTEM IN LAWNMOWERS TO DRIVE SEGMENT153
TABLE 119ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)153
TABLE 120ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)154
TABLE 121ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)154
TABLE 122ELECTRIC GARDENING EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)154
10.5AGRICULTURE155
10.5.1ELECTRIC AGRICULTURE EQUIPMENT IMPROVES FARMING EFFICIENCY AND PRODUCTIVITY BY ACCELERATING FARM MECHANIZATION155
TABLE 123ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)155
TABLE 124ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)155
TABLE 125ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)155
TABLE 126ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)156
11ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION157
11.1INTRODUCTION158
11.1.1RESEARCH METHODOLOGY158
11.1.2ASSUMPTIONS158
11.1.3INDUSTRY INSIGHTS159
FIGURE 35ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION)159
TABLE 127ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2018–2021 (UNITS)159
TABLE 128ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022–2027 (UNITS)160
TABLE 129ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2018–2021 (USD MILLION)160
TABLE 130ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY PROPULSION, 2022–2027 (USD MILLION)160
11.2HYBRID-ELECTRIC161
11.2.1HYBRID-ELECTRIC EQUIPMENT EFFECTIVELY BRIDGES TECHNOLOGY GAP BETWEEN CONVENTIONAL AND BATTERY-ELECTRIC EQUIPMENT161
TABLE 131HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)161
TABLE 132HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)161
TABLE 133HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)161
TABLE 134HYBRID-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)162
11.3BATTERY-ELECTRIC162
11.3.1STRINGENT EMISSION REGULATIONS DRIVE DEMAND FOR BATTERY-ELECTRIC EQUIPMENT162
TABLE 135BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)162
TABLE 136BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)163
TABLE 137BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)163
TABLE 138BATTERY-ELECTRIC: CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)163
12ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE164
12.1INTRODUCTION165
12.1.1RESEARCH METHODOLOGY165
12.1.2ASSUMPTIONS165
12.1.3INDUSTRY INSIGHTS165
FIGURE 36ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)166
TABLE 139ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)166
TABLE 140ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)166
TABLE 141ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)167
TABLE 142ELECTRIC AGRICULTURE EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)167
12.2ELECTRIC LAWN MOWER167
12.2.1HIGH FUEL EXPENSES AND WORKFORCE SHORTAGE IN GARDENING DRIVE DEVELOPMENT OF ELECTRIC LAWN MOWERS167
TABLE 143ELECTRIC LAWN MOWER MARKET, BY REGION, 2018–2021 (UNITS)168
TABLE 144ELECTRIC LAWN MOWER MARKET, BY REGION, 2022–2027 (UNITS)168
TABLE 145ELECTRIC LAWN MOWER MARKET, BY REGION, 2018–2021 (USD MILLION)168
TABLE 146ELECTRIC LAWN MOWER MARKET, BY REGION, 2022–2027 (USD MILLION)168
12.3ELECTRIC SPRAYER169
12.3.1NEED TO ELIMINATE WITHERING OF CROPS TO DRIVE SEGMENT169
TABLE 147ELECTRIC SPRAYER MARKET, BY REGION, 2018–2021 (UNITS)169
TABLE 148ELECTRIC SPRAYER MARKET, BY REGION, 2022–2027 (UNITS)169
TABLE 149ELECTRIC SPRAYER MARKET, BY REGION, 2018–2021 (USD MILLION)169
TABLE 150ELECTRIC SPRAYER MARKET, BY REGION, 2022–2027 (USD MILLION)170
12.4ELECTRIC TRACTOR170
12.4.1RISING DEMAND FOR FOOD GRAIN PRODUCTS FUELS TECHNOLOGICAL ADVANCEMENTS IN AGRICULTURE INDUSTRY170
TABLE 151ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (UNITS)170
TABLE 152ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (UNITS)171
TABLE 153ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)171
TABLE 154ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)171
13ELECTRIC TRACTOR MARKET, BY PROPULSION172
13.1INTRODUCTION173
13.1.1RESEARCH METHODOLOGY173
13.1.2ASSUMPTIONS174
13.1.3INDUSTRY INSIGHTS174
FIGURE 37ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION)174
TABLE 155ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018–2021 (UNITS)174
TABLE 156ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022–2027 (UNITS)175
TABLE 157ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018–2021 (USD MILLION)175
TABLE 158ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022–2027 (USD MILLION)175
13.2HYBRID-ELECTRIC175
13.2.1INCREASING DEMAND FOR MEDIUM AND HEAVY-DUTY TRACTORS TO DRIVE SEGMENT175
TABLE 159HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (UNITS)176
TABLE 160HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (UNITS)176
TABLE 161HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)176
TABLE 162HYBRID-ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)177
13.3BATTERY-ELECTRIC177
13.3.1STRINGENT EMISSION NORMS EXPECTED TO DRIVE SEGMENT177
TABLE 163BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (UNITS)177
TABLE 164BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (UNITS)178
TABLE 165BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)178
TABLE 166BATTERY-ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)178
14ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION179
14.1INTRODUCTION180
14.1.1RESEARCH METHODOLOGY180
14.1.2ASSUMPTIONS181
14.1.3INDUSTRY INSIGHTS181
FIGURE 38ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022 VS. 2027 (USD MILLION)181
TABLE 167ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2018–2021 (UNITS)181
TABLE 168ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022–2027 (UNITS)182
TABLE 169ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2018–2021 (USD MILLION)182
TABLE 170ELECTRIC CONSTRUCTION AND MINING EQUIPMENT MARKET, BY PROPULSION, 2022–2027 (USD MILLION)182
14.2HYBRID-ELECTRIC183
14.2.1HYBRID-ELECTRIC EQUIPMENT TO WITNESS HIGH DEMAND DUE TO FUEL EFFICIENCY183
TABLE 171HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)183
TABLE 172HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)183
TABLE 173HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)184
TABLE 174HYBRID-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)184
14.3BATTERY-ELECTRIC184
14.3.1NOISE AND EMISSION REGULATIONS TO DRIVE SEGMENT DURING FORECAST PERIOD184
TABLE 175BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)185
TABLE 176BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)185
TABLE 177BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)185
TABLE 178BATTERY-ELECTRIC: CONSTRUCTION AND MINING EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)186
15ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION187
15.1INTRODUCTION188
15.1.1RESEARCH METHODOLOGY188
15.1.2ASSUMPTIONS189
15.1.3INDUSTRY INSIGHTS189
FIGURE 39ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)189
TABLE 179ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (UNITS)190
TABLE 180ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (UNITS)190
TABLE 181ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2018–2021 (USD MILLION)190
TABLE 182ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION, 2022–2027 (USD MILLION)190
15.2ASIA PACIFIC191
FIGURE 40ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)191
TABLE 183ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2021 (UNITS)191
TABLE 184ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022–2027 (UNITS)192
TABLE 185ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2018–2021 (USD MILLION)192
TABLE 186ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY COUNTRY, 2022–2027 (USD MILLION)192
15.2.1CHINA193
15.2.1.1Innovations and developments by leading Chinese players to drive market193
TABLE 187CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)193
TABLE 188CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)194
TABLE 189CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)194
TABLE 190CHINA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)195
15.2.2INDIA196
15.2.2.1Demand for eco-friendly and cost-effective off-highway equipment to drive market196
TABLE 191INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)196
TABLE 192INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)197
TABLE 193INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)197
TABLE 194INDIA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)198
15.2.3JAPAN199
15.2.3.1Demand for noise and emission-free compact construction equipment to aid market growth199
TABLE 195JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)199
TABLE 196JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)200
TABLE 197JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)200
TABLE 198JAPAN: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)201
15.2.4SOUTH KOREA202
15.2.4.1Increasing demand for zero-emission equipment and farming automation to aid market growth202
TABLE 199SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)202
TABLE 200SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)203
TABLE 201SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)203
TABLE 202SOUTH KOREA: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)204
15.2.5REST OF ASIA PACIFIC204
15.2.5.1Increasing construction activities, presence of large mines, and rising awareness about equipment electrification to drive market204
TABLE 203REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (UNITS)205
TABLE 204REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (UNITS)205
TABLE 205REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)206
TABLE 206REST OF ASIA PACIFIC: ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)