DUBLIN–(BUSINESS WIRE)–The «U.S. Electric Construction Equipment Market – Strategic Assessment & Forecast 2025-2030» report has been added to ResearchAndMarkets.com’s offering.
The U.S. Electric Construction Equipment Market was sized at 441 Units in 2024, and is projected to reach 1,945 Units by 2030, rising at a CAGR of 28.06%.
Recent Developments in the U.S. Electric Construction Equipment Market
- In 2024, Case Construction Equipment launched its new compact electric wheel loader 12EV in the North American market, including the United States. The machine offers a 23kWh cobalt-free, lithium-ion battery with a payload of 1.15 tons.
- Case Construction also launched an electric backhoe loader, Case 580EV, in the North American market in 2024.
- Volvo Construction Equipment expanded its electric lineup in North America with a new mid-size electric wheel loader L 120 & excavator & new generation EC230 electric excavator in 2024.
- Caterpillar signed a strategic agreement with CRH, a leading building material solution provider in the U.S., for electric trucks and charging solutions in 2024.
- Bobcat introduced a new electric compact track loader at Equip Expo 2024 in Louisville, Kentucky, in the United States.
KEY HIGHLIGHTS
- Electric excavators accounted for the largest market share in the U.S. electric construction equipment market in 2024. This equipment is extremely flexible and can operate in urban construction & mining sites.
- The demand for compact & small-segment excavators is more prominent as compared to medium and large ones. The electrification of large excavators requires a high-capacity battery that will push up the overall price of excavators.
- Backhoe loaders and dump trucks have witnessed low electrification rates as these types of equipment have complex structures and are required for special purposes at construction and mining sites. So, contractors don’t prefer electric dump trucks & backhoe loaders due to their lower utilization rate.
- The U.S. electric construction equipment market witnessed strong growth in the low battery capacity segment as it is cost-efficient and is used in compact equipment.
- Favorable government policies and an increasing focus on carbon neutrality goals are driving the U.S. electric construction equipment market growth. The government of major cities in the U.S., such as New York, California & others, planned to completely phase out the use of diesel power equipment for many construction projects initiated from 2025.
- The U.S. electric construction equipment market is severely impacted by the high cost of electric construction equipment. In 2024, the U.S. government increased the tariff rate to 100% for imported electric construction equipment from the Chinese market. The government also increased the tariff rate to 25% on lithium batteries imported from China that are used in construction equipment.
- High tariff rates on imported electric construction equipment from China negatively impact demand for this equipment in the U.S. market as China is one of the leading manufacturers of electric equipment in the world.
Market Trends and Drivers
The U.S. market is seeing a high electrification rate in compact construction equipment due to simpler structure and indoor usability, reducing emissions. Demand is growing in mining, aided by government policies promoting sustainable mining practices. Electrification in industries like mining sees equipment such as electric excavators and loaders increasingly in use.
Demand for sustainable construction and net-zero buildings is bolstering electric equipment demand. By 2025, the U.S. plans significant investments in zero-energy buildings, using electric equipment like the Volvo EC230 for projects such as Los Angeles Metro’s Purple Line extension.
Industry Restraints
The lack of charging infrastructure presents a challenge, as extensive investments are needed for expanded electrical networks and availability.
The cost of electric construction equipment remains a barrier, often exceeding traditional equipment prices, though offering environmental benefits.
COMPETITIVE LANDSCAPE
- Bobcat is one of the leading electric construction equipment manufacturers in the U.S. electric construction equipment market. Bobcat provides a comprehensive range of compact machinery, encompassing loaders, excavators, compact tractors, utility products, telehandlers, mowers, attachments, and implements. The company has a manufacturing plant in the North Dakota & Minnesota region in the U.S. market.
- In 2024, Caterpillar showcased its electric machines at the Consumer Electronics Show in Las Vegas. The exhibit featured a zero-emission underground loader, a mini excavator, and other electric equipment. Caterpillar plans to continue innovating and investing in electrification, connectivity, alternative fuels, and digital solutions to achieve its sustainability goals.
- Komatsu offers construction equipment catering to the requirements of the construction and mining sectors. It offers various models, ranging from mini excavators to ultra-class dump trucks. The company launched lithium battery-powered mini excavators in the US electric construction equipment market in 2024. Komatsu partnered with U.S. battery manufacturer Proterra to develop electric construction equipment in the U.S. market.
Key Company Profiles
- Bobcat
- Caterpillar
- Volvo Construction Equipment
- Komatsu
- Hitachi Construction Machinery
- Liebherr
- JCB
- Kobelco
- HD Hyundai Construction Equipment
- Kubota
- Wacker Neuson
- John Deere
- SANY
Other Prominent Vendors
- Xuzhou Construction Machinery Group (XCMG)
- Kramer
- CASE Construction Equipment
- Manitou
- MECALAC
- Yanmar
- Takeuchi Manufacturing Co., Ltd.
- DEVELON
- LiuGong
- HEVI
Component Suppliers
- ABB
- Eaton
- American Battery Solutions
- Ecovolta
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 161 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value in 2024 | 441 Units |
| Forecasted Market Value by 2030 | 1945 Units |
| Compound Annual Growth Rate | 28.0% |
| Regions Covered | United States |
SEGMENTATION ANALYSIS
Segmentation By Equipment
- Excavators
- Wheel Loaders
- Backhoe Loader
- Telehandlers
- Aerial Platform
- Others
Segmentation By Battery Capacity
- Below 50 KWH
- 50 KWH -200 KWH
- 201 KWH- 500 KWH
- Above 500 KWH
Segmentation By Battery Chemistry
- Nickle Manganese Cobalt (NMC)
- Lithium Ferro Phosphate (LFP)
- Others
Segmentation By End User
- Construction
- Warehouse & Logistics
- Mining
- Others
For more information about this report visit https://www.researchandmarkets.com/r/cq2biz
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