Top Compact Electric Construction Equipment Companies

Global Compact Electric Construction Equipment market size was valued at USD 56.0 billion in 2023 and is poised to grow from USD 63.2 billion in 2024 to USD 174.5 billion by 2032, growing at a CAGR of 12.74% in the forecast period (2025-2032).

The competitive landscape of the global compact electric construction equipment industry hosts several significant manufacturers such as JCB, Volvo Construction Equipment, and Caterpillar. To cope with the rising demand, these companies are focusing on innovation and investing in sustainable solutions and electric technology. In the pursuit of updating their product lines, companies often enter strategic alliances, acquisitions, and collaborations. It is further competing markets due to increasing local players, start-up firms, which push on fast new products development and electronification. 'Caterpillar Inc.', 'Volvo Construction Equipment', 'JCB', 'Komatsu Ltd.', 'Hitachi Construction Machinery', 'Liebherr Group', 'Doosan Infracore', 'Kubota Corporation', 'CASE Construction Equipment', 'Bobcat Company', 'Manitou Group', 'Wacker Neuson SE', 'Schmidt Maschinenbau GmbH', 'Epiroc AB', 'Yanmar Holdings Co., Ltd.'

Substantial operating cost benefits are available with compact electric construction equipment. Since electric equipment has fewer moving parts, they need less maintenance and repair. Moreover, they consume less gasoline since they are more energy-efficient than their diesel counterparts. Due to these benefits, electric machines are attractive to construction companies that seek to reduce costs in the long term while enhancing operational efficiency and reducing their environmental impact.

Use of Advanced Battery Technology: Development and implementation of these advanced battery technologies shows a strong development trend in compact electric construction equipment. Rather than building more or less the same batteries that come out with only a slightly bigger capacity, there is an opportunity here to make far more efficient batteries that last even much longer, able to withstand heavy-duty construction applications.

Europe had a revenue share of more than 40.0% in the year 2024 and the regional market is anticipated to grow steadily over the forecast period. The European Union has aggressive targets to cut down greenhouse gas emissions for climatic change. For the implementation of these goals, the EU government has imposed regulations to encourage electric vehicles and equipment. For instance, the EU has already set a goal of reducing 37.5% of CO2 emission for new cars in 2030 than in 2021. Additionally, there is London's Low Emission Zone, which limits the use of diesel-powered machinery in particular locations. Increased use of zero-emission machinery and more infrastructure projects in the region especially in places such as Oslo, Norway; Helsinki, Finland; London, UK; Copenhagen, Denmark; Amsterdam, Netherlands; and Stockholm, Sweden, are responsible for the region's growth.