Summary
The global market for compact electric construction equipment is experiencing impressive growth, fueled by a surge in construction activities and stricter environmental regulations. In 2024, the market size is estimated to be USD 66.02 billion, and it is projected to reach USD 163.8 billion by 2031, growing at an impressive CAGR of 13.90%. As the market is set for significant expansion, the demand for compact electric machinery is reaching unprecedented levels. This growth is largely driven by a shift towards eco-friendly construction practices and advancements in technology.
Factors Driving Market Growth
The increasing adoption of compact electric construction equipment is primarily due to its versatility and efficiency compared to larger machines. The trend towards electric equipment is further accelerated by stringent environmental regulations, which promote the use of electric machinery like wheel loaders and excavators. This shift reflects a broader global movement towards sustainable and environmentally friendly construction solutions.
Emerging Trends and Opportunities
Consumer preferences are evolving, with a noticeable shift from pedal-operated machinery to joystick-operated equipment. Advanced features such as suspension seats, air-conditioned cabins, and GPS tracking systems are making compact electric equipment more appealing. The integration of GPS technology allows users to monitor and manage their equipment remotely, enhancing operational efficiency and security.
Infrastructure Investments Driving Demand
Local governments and municipalities are making substantial investments in infrastructure to support rapid urban growth. These investments are boosting demand for compact electric construction equipment. For example, significant infrastructure projects across various regions are creating a strong market for small, efficient construction machinery.
Challenges and Market Dynamics
Despite the positive outlook, the compact electric construction equipment market faces challenges such as fluctuating raw material prices and high metal costs. However, advancements in battery technology and the development of charging infrastructure are opening new opportunities in the smart electric construction equipment sector. The market is also dealing with low entry barriers and structural issues, along with volatile fuel prices.
Product Segmentation Insights
The compact electric construction equipment market is primarily driven by the forklift segment, which has generated substantial revenue. Electric forklifts are particularly suited for indoor and smooth-surface applications, maintaining their dominance in the market. The demand for lightweight electric loaders is also expected to rise, fueled by their efficiency and the introduction of innovative products like electric compact loaders.
Regional Market Overview
United States: Leading Innovation
The United States remains a major player in the compact electric construction equipment market, thanks to its strong infrastructure and presence of key market players. Despite lower construction activity compared to emerging economies, the U.S. continues to drive market growth through innovation and strategic expansion in Asia Pacific regions.
Europe: Growth Hotspot
Europe is set to be a lucrative market for compact electric construction equipment, driven by the region’s focus on zero-emission technology and ongoing infrastructure projects. Countries such as Germany, the UK, and France are leading this trend, resulting in significant market share and expansion opportunities.
Asia Pacific: Rapid Growth
In the Asia Pacific region, Japan is witnessing strong growth in the compact electric construction equipment market. The country's rapid infrastructure development and strict environmental regulations are boosting demand. Additionally, countries like South Korea and India are seeing increased investments in urban infrastructure, further driving the need for compact electric machinery.
Competitive Analysis
•Caterpillar
•JCB
•HAULOTTE GROUP
•Wacker Neuson SE
•Toyota Motor Corporation
•Hyster-Yale Group, Inc.
•SANY Group
•Volvo CE
•Hyundai CE
•Bobcat
Key Segments Covered in the Compact Electric Construction Equipment Industry Report
Compact Electric Construction Equipment Industry by Product Type
•Forklift
•Loader
•Excavator
oMini
oMidi
•AWP
oTelehandler
oBoom
oScissor
Compact Electric Construction Equipment Industry by Ton Type
•Below 5 Ton
•6 to 8 Ton
•8 to 10 Ton
Fairfield Market Research Market by Region
•North America Market
•Europe Market
•Asia-Pacific Market
•Middle East & Africa Market
•South America Market
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Table of Contents
1. Executive Summary
1.1. Global Compact Electric Construction Equipment Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2019 - 2023
3.1. Global Compact Electric Construction Equipment Production Output, by Region, Value (US$ Bn) and Volume (Units), 2019 - 2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2019 - 2023
4.1. Global Average Price Analysis, by Product Type, US$ Per Unit, 2019 - 2023
4.2. Prominent Factor Affecting Compact Electric Construction Equipment Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit
5. Global Compact Electric Construction Equipment Market Outlook, 2019 - 2031
5.1. Global Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
5.1.1. Key Highlights
5.1.1.1. Forklift
5.1.1.2. Loader
5.1.1.3. Excavator
5.1.1.3.1. Mini
5.1.1.3.2. Midi
5.1.1.4. AWP
5.1.1.4.1. Telehandler
5.1.1.4.2. Boom
5.1.1.4.3. Scissor
5.2. Global Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
5.2.1. Key Highlights
5.2.1.1. Below 5 Ton
5.2.1.2. 6 to 8 Ton
5.2.1.3. 8 to 10 Ton
5.3. Global Compact Electric Construction Equipment Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2019 - 2031
5.3.1. Key Highlights
5.3.1.1. North America
5.3.1.2. Europe
5.3.1.3. Asia Pacific
5.3.1.4. Latin America
5.3.1.5. Middle East & Africa
6. North America Compact Electric Construction Equipment Market Outlook, 2019 - 2031
6.1. North America Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.1.1. Key Highlights
6.1.1.1. Forklift
6.1.1.2. Loader
6.1.1.3. Excavator
6.1.1.3.1. Mini
6.1.1.3.2. Midi
6.1.1.4. AWP
6.1.1.4.1. Telehandler
6.1.1.4.2. Boom
6.1.1.4.3. Scissor
6.2. North America Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.2.1. Key Highlights
6.2.1.1. Below 5 Ton
6.2.1.2. 6 to 8 Ton
6.2.1.3. 8 to 10 Ton
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Compact Electric Construction Equipment Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.3.1. Key Highlights
6.3.1.1. U.S. Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.3.1.2. U.S. Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.3.1.3. Canada Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.3.1.4. Canada Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Compact Electric Construction Equipment Market Outlook, 2019 - 2031
7.1. Europe Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.1.1. Key Highlights
7.1.1.1. Forklift
7.1.1.2. Loader
7.1.1.3. Excavator
7.1.1.3.1. Mini
7.1.1.3.2. Midi
7.1.1.4. AWP
7.1.1.4.1. Telehandler
7.1.1.4.2. Boom
7.1.1.4.3. Scissor
7.2. Europe Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.2.1. Key Highlights
7.2.1.1. Below 5 Ton
7.2.1.2. 6 to 8 Ton
7.2.1.3. 8 to 10 Ton
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Europe Compact Electric Construction Equipment Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1. Key Highlights
7.3.1.1. Germany Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.2. Germany Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.3. U.K. Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.4. U.K. Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.5. France Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.6. France Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.7. Italy Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.8. Italy Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.9. Turkey Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.10. Turkey Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.11. Russia Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.12. Russia Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.13. Rest of Europe Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.1.14. Rest of Europe Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Compact Electric Construction Equipment Market Outlook, 2019 - 2031
8.1. Asia Pacific Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.1.1. Key Highlights
8.1.1.1. Forklift
8.1.1.2. Loader
8.1.1.3. Excavator
8.1.1.3.1. Mini
8.1.1.3.2. Midi
8.1.1.4. AWP
8.1.1.4.1. Telehandler
8.1.1.4.2. Boom
8.1.1.4.3. Scissor
8.2. Asia Pacific Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.2.1. Key Highlights
8.2.1.1. Below 5 Ton
8.2.1.2. 6 to 8 Ton
8.2.1.3. 8 to 10 Ton
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Compact Electric Construction Equipment Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1. Key Highlights
8.3.1.1. China Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.2. China Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.3. Japan Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.4. Japan Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.5. South Korea Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.6. South Korea Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.7. India Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.8. India Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.9. Southeast Asia Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.10. Southeast Asia Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.11. Rest of Asia Pacific Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.1.12. Rest of Asia Pacific Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Compact Electric Construction Equipment Market Outlook, 2019 - 2031
9.1. Latin America Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.1.1. Key Highlights
9.1.1.1. Forklift
9.1.1.2. Loader
9.1.1.3. Excavator
9.1.1.3.1. Mini
9.1.1.3.2. Midi
9.1.1.4. AWP
9.1.1.4.1. Telehandler
9.1.1.4.2. Boom
9.1.1.4.3. Scissor
9.2. Latin America Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.2.1. Key Highlights
9.2.1.1. Below 5 Ton
9.2.1.2. 6 to 8 Ton
9.2.1.3. 8 to 10 Ton
9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Compact Electric Construction Equipment Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1. Key Highlights
9.3.1.1. Brazil Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.2. Brazil Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.3. Mexico Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.4. Mexico Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.5. Argentina Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.6. Argentina Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.7. Rest of Latin America Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.1.8. Rest of Latin America Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Compact Electric Construction Equipment Market Outlook, 2019 - 2031
10.1. Middle East & Africa Compact Electric Construction Equipment Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.1.1. Key Highlights
10.1.1.1. Forklift
10.1.1.2. Loader
10.1.1.3. Excavator
10.1.1.3.1. Mini
10.1.1.3.2. Midi
10.1.1.4. AWP
10.1.1.4.1. Telehandler
10.1.1.4.2. Boom
10.1.1.4.3. Scissor
10.2. Middle East & Africa Compact Electric Construction Equipment Market Outlook, by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.2.1. Key Highlights
10.2.1.1. Below 5 Ton
10.2.1.2. 6 to 8 Ton
10.2.1.3. 8 to 10 Ton
10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Compact Electric Construction Equipment Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1. Key Highlights
10.3.1.1. GCC Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.2. GCC Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.3. South Africa Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.4. South Africa Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.5. Egypt Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.6. Egypt Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.7. Nigeria Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.8. Nigeria Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.9. Rest of Middle East & Africa Compact Electric Construction Equipment Market by Product Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.1.10. Rest of Middle East & Africa Compact Electric Construction Equipment Market by Ton Type, Value (US$ Bn) and Volume (Units), 2019 - 2031
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2023
11.2. Competitive Dashboard
11.3. Company Profiles
11.3.1. Caterpillar
11.3.1.1. Company Overview
11.3.1.2. Product Portfolio
11.3.1.3. Financial Overview
11.3.1.4. Business Strategies and Development
11.3.2. JCB
11.3.2.1. Company Overview
11.3.2.2. Product Portfolio
11.3.2.3. Financial Overview
11.3.2.4. Business Strategies and Development
11.3.3. HAULOTTE GROUP
11.3.3.1. Company Overview
11.3.3.2. Product Portfolio
11.3.3.3. Financial Overview
11.3.3.4. Business Strategies and Development
11.3.4. Wacker Neuson SE
11.3.4.1. Company Overview
11.3.4.2. Product Portfolio
11.3.4.3. Financial Overview
11.3.4.4. Business Strategies and Development
11.3.5. Toyota Motor Corporation
11.3.5.1. Company Overview
11.3.5.2. Product Portfolio
11.3.5.3. Financial Overview
11.3.5.4. Business Strategies and Development
11.3.6. Hyster-Yale Group, Inc.
11.3.6.1. Company Overview
11.3.6.2. Product Portfolio
11.3.6.3. Financial Overview
11.3.6.4. Business Strategies and Development
11.3.7. SANY Group
11.3.7.1. Company Overview
11.3.7.2. Product Portfolio
11.3.7.3. Financial Overview
11.3.7.4. Business Strategies and Development
11.3.8. Volvo CE
11.3.8.1. Company Overview
11.3.8.2. Product Portfolio
11.3.8.3. Financial Overview
11.3.8.4. Business Strategies and Development
11.3.9. Hyundai CE
11.3.9.1. Company Overview
11.3.9.2. Product Portfolio
11.3.9.3. Financial Overview
11.3.9.4. Business Strategies and Development
11.3.10. Bobcat
11.3.10.1. Company Overview
11.3.10.2. Product Portfolio
11.3.10.3. Financial Overview
11.3.10.4. Business Strategies and Development
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
