Electric Construction Equipment Market Size
Market Size in USD Bn
CAGR23.55%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 23.55% |
| Market Concentration | High |
| Major Players | Caterpillar Inc., Volvo Construction Equipment, Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., J.C. Bamford Excavators Limited (JCB) and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Electric Construction Equipment Market Analysis
The electric construction equipment market is estimated to be valued at USD 12.75 Bn in 2024 and is expected to reach USD 56.04 Bn by 2031, growing at a compound annual growth rate (CAGR) of 23.55% from 2024 to 2031. The electric construction equipment market is expected to witness significant growth with growing awareness about the environmental benefits of electric equipment compared to traditional diesel-powered variants.