Construction and Mining Equipment Electrification Industry Analysis 2024-2035 - Sustainability Targets are Driving Transformational Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Construction and Mining Equipment Electrification Industry, Global, 2024-2035" report has been added to ResearchAndMarkets.com's offering.

Electrification in the construction and mining industry has grown significantly in recent years, with the global market size of original equipment manufacturers reaching $241.2 billion in 2023. Unit sales in electric and hybrid models reached 59,909 units in 2023, and a 16.5% compound annual growth rate (CAGR) is projected, reaching 376,142 units in 2035.

Factors driving the industry growth include government incentives, application versatility, technological advancements (e.g., improved energy density and long battery lifecycle), regulations, and cost-efficiency improvements in electric vehicles in the coming years.

The report forecasts that regional growth will differ between 2023 and 2035 due to various factors, such as regulations and market forces. North America, Europe, Asia-Pacific, and the Rest of the World will likely record strong CAGRs of 19.2%, 13.4%, 18.5%, and 14%, respectively, because of increased competition and technological advancements. Similarly, battery, hybrid, and fuel cell electric vehicles will register growth rates of 24.7%, 9.2%, and 32.6%, respectively, globally.

The market is competitive, with many manufacturers wanting a share in electrification. Caterpillar, Komatsu, Volvo CE, Hitachi CM, JCB, Sany, XCMG, Zoomlion, Sumitomo, Kobelco, Liebherr, Doosan Bobcat, Schaffer Lader, John Deere, Epiroc, LiuGong and Shantui have a presence in multiple markets and offer a range of products. A trend characterizing the industry is toward more sustainable and efficient vehicles, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing electrification and autonomous technologies.

Major innovations will likely be in system efficiency, battery and energy storage systems, thermal management systems, distribution units, battery swapping strategies, and charging infrastructure. The publisher expects high-tech innovations, a sustainability push, and the need for electric equipment will propel industry growth.

Key Growth Opportunities in Construction and Mining Equipment Electrification

• Innovations in Powertrain and Allied Technologies
• Business Model Transformation
• Smart Features and Autonomous Operations

Key Topics Covered:

Transformation in Construction and Mining Equipment Electrification

• The Impact of the Top 3 Strategic Imperatives on the Electrification of Construction and Mining Equipment

Growth Environment: Ecosystem in Construction and Mining Equipment Electrification

• Scope of Analysis
• Segmentation
• Gross Domestic Product (GDP) Growth
• Competitive Environment
• Key Competitors: OEMs
• Key Competitors: Battery Suppliers
• M&A and Partnerships

Growth Generator in Construction and Mining Equipment Electrification

• Growth Metrics
• Growth Drivers
• Growth Restraints
• Forecast Considerations
• Unit Sales Forecast: Electric/Hybrid Equipment
• Unit Sales Forecast: Electric/Hybrid Equipment Regional Breakdown
• Unit Sales Forecast: Electric/Hybrid Equipment by Product
• EIO Forecast: Electric/Hybrid Equipment
• EIO Forecast: Electric/Hybrid Equipment Regional Breakdown
• EIO Forecast: Electric/Hybrid Equipment by Product
• Competitive Benchmarking: OEMs#
• Competitive Benchmarking: Battery and Portable Charging Suppliers
• Market Share of Top 30 OEMs: Equipment Sales in the Construction and Mining Industry
• Market Share Analysis
• OEM Roadmap to Electrification: Top 3 OEMs
• OEM Strength Analysis: Regional Presence with Electric/Hybrid Models
• Electrification Focus, Top 4 OEMs: Caterpillar
• Electrification Focus, Top 4 OEMs: Komatsu
• Electrification Focus, Top 4 OEMs: John Deere
• Electrification Focus, Top 4 OEMs: XCMG
• SWOT Analysis, Top 4 OEMs
• Battery and Motor Sizing: Market Analysis
• Global Battery Regulations: Overview

For more information about this report visit https://www.researchandmarkets.com/r/601w07

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