Electric excavator is an electrically powered heavy construction equipment that is used to dig holes and trenches, and for material handling, mining, construction, forestry mulching, general grading, river dredging, drilling shafts, driving piles, and other such applications. It comprises a dipper, bucket, boom, and a cab on a rotating platform. The electric excavator is powered by a massive kilowatt-hour battery pack, instead of a conventional internal combustion engine, and is considered as low or zero-emission equipment vehicle, as no carbon dioxide, nitrogen oxide, or other particulate matter is released into the atmosphere. The global electric excavator market has been expanding significantly for the last couple of years. It is likely to expand at a noteworthy pace in the near future.
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Rapid transformation and evolution of several industries in conjunction with booming infrastructure across the globe, especially in developing countries, have fueled the demand for electric excavator. Moreover, surge in urban and metropolitan building sites, which requires high performance, more compact, and environment-friendly solutions, is anticipated to drive the electric excavator market in the near future
Furthermore, transportation pollution is a key factor driving the adoption of electric excavators, as traditional excavators emit harmful gases that are injurious to both humans and the environment. These factors are likely to boost the demand for electric excavator in next couple of years.
Electric excavators are designed and manufactured by equipment and machinery manufacturers to be employed in a variety of applications, ranging from river dredging and digging holes to demolition of unwanted infrastructure to construction. Manufacturers are constantly developing battery packs and electric motors to enhance the power of the electric excavator in order to cater to multiple applications.
The battery, which is a vital component of any electric mobility, accounts for around 40% of the total cost of electric mobility. The high cost of the battery has been recognized as a major challenge to the commercialization of electric excavators in mainstream consumer applications. Additionally, higher maintenance cost of electric excavators is also anticipated to hamper the electric excavator market in the near future.
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Electric Excavator Market Segmentation
Based on propulsion, the electric excavator market can be segmented into
- Pure Electric
Based on product type, the electric excavator market can be classified into
- Mini/ Compact
Based on end-use industry, the electric excavator market can be segregated into
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