Compact Electric Construction Equipment Market is predicted to reach USD 167.15 billion at a CAGR of 14.30% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Compact Electric Construction Equipment Market”.

The Compact Electric Construction Equipment market is estimated to register a CAGR of 14.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Compact Electric Construction Equipment market— Caterpillar, JCB, HAULOTTE GROUP, Wacker Neuson SE, Toyota Motor Corporation, Hyster-Yale Group, Inc., SANY Group, Volvo CE, Hyundai CE, Bobcat.

Market Highlights

The Global Compact Electric Construction Equipment market is accounted to register a CAGR of 14.30% during the forecast period and is estimated to reach USD 167.15 billion by 2032.

The growing demand for environmentally friendly and low-emission construction equipment is the main factor driving the market for compact electric construction equipment. Construction companies are actively looking for greener alternatives to conventional diesel-powered equipment as sustainability and environmental consciousness become more important. Mini excavators and loaders are examples of compact electric construction equipment that offer increased energy efficiency, lower running costs, and fewer pollutants. Furthermore, the construction sector is being forced to utilize electric equipment due to rigorous noise and pollution rules, which is in line with sustainability objectives and considerably fuels market growth.

Segment Analysis

The Global Compact Electric Construction Equipment market has been segmented based on product and application.

On the basis of product, the market is segmented into Forklift, Loader, Excavator, and AWP. The Compact Electric Construction Equipment market's "Loader" segment is the biggest. Loaders are adaptable, frequently employed in construction-related applications, and provide environmentally favorable solutions. Their segmental rise is being driven by their favored selection for various building projects because of their small size, simplicity of movement, and low emissions.

Based on application, the global Compact Electric Construction Equipment market has been segmented into Below 5 Ton, 6 to 8 Ton, and 8 to 10 Ton. In the need for compact electric construction equipment, the "Below 5 Ton" segment is the biggest. Because of their adaptability, these machines are appropriate for a wide range of applications. Their significant market growth is largely attributed to their small size, flexibility, and cheaper operating costs.

Regional Analysis

The Global Compact Electric Construction Equipment market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The European Compact Electric Construction Equipment market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Compact Electric Construction Equipment market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Compact Electric Construction Equipment market comprises the Middle East, Africa, and Latin America.

North America led the Compact electric construction equipment market in 2022. Compact electric construction equipment has a mature market in North America, which is fueled by strict emissions restrictions, a focus on sustainability, and a rise in demand for environmentally friendly construction equipment. Electric machinery is the preferred option since the region's construction industry favors technology that lowers pollution and noise levels. An established infrastructure and a focus on technology also aids the market's expansion in North America.

The European market for Compact Electric Construction Equipment is the second largest in the world. Additionally, due to its emphasis on environmental sustainability and eco-friendly methods, Europe is a top area for compact electric construction equipment. Tight emissions rules and noise limits drive the introduction of electric machinery. Compact electric machines are in high demand because European nations place a high priority on innovation and technological improvements in construction equipment.

From 2023 to 2032, the Asia-Pacific market for compact electric construction equipment is expected to grow at the highest CAGR. Moreover, the need for compact electric construction equipment is expanding at the quickest rate in Asia-Pacific. Electric equipment is in high demand as a result of rapid urbanization, massive infrastructure development, and rising environmental consciousness. With an increase in construction projects and a move toward sustainable construction methods, emerging economies like China and India significantly contribute to the growth of the region.

Furthermore, the rest of the world’s compact electric construction equipment market is divided into the Middle East, Africa, and Latin America. Furthermore, the Rest of the World Markets in the Rest of the World region have different dynamics. While the building sector in Africa is yet unexplored, it is expanding in Latin America. For its infrastructure initiatives, the Middle East emphasizes the utilization of top-notch machinery. The market in this area is influenced by regional economic conditions and local preferences, with growth potential as construction activity increases.

Key Findings of the Study

• The global Compact Electric Construction Equipment market is expected to reach USD 167.15 billion by 2032, at a CAGR of 14.30% during the forecast period.


• The compact electric construction equipment market's "Loader" sector is the biggest, accounting for 35.40% of the market share


• The Asia-Pacific market for compact electric construction equipment is anticipated to grow at the highest CAGR between 2023 and 2032 on account of the region's accelerated urbanization.


• Caterpillar, JCB, HAULOTTE GROUP, Wacker Neuson SE, Toyota Motor Corporation, Hyster-Yale Group, Inc., SANY Group, Volvo CE, Hyundai CE, and Bobcat.