Product Code: A74389
Underground Electric Construction Equipment Market
The underground electric construction equipment market was valued at $4.5 billion in 2023 and is projected to reach $16.3 billion by 2032, growing at a CAGR of 15.3% from 2024 to 2032.
The underground electric construction equipment market comprises of a variety of devices which are powered by electricity and utilized in underground construction & maintenance projects. The construction sector is a major emitter of greenhouse gases, representing approximately 20% of total emissions, owing to the dominance of diesel-powered machinery. Therefore, electrically powered underground construction equipment is gaining prominence in the sector due to its environmental friendliness, reduced noise level, and low working costs. In addition, the versatility and adaptability of the equipment enhance its adequacy for challenging conditions during underground construction, enabling high maneuverability in constrained spaces.
Increase in inclination toward the electrification of global construction industry to minimize its environmental influence is a significant driver of the underground electric construction equipment market. In addition, rapid expansion of renewable energy projects, including wind farms and solar installations, is boosting the demand for the equipment. In upcoming years, automation and assimilation of smart technologies are the major trends projected to dominate the underground electric construction equipment market. These technologies possess the potential to allow remote operation of the equipment with enhanced telematics and predictive systems.
However, the integration of technological advancements leads to surge in the upfront costs of the equipment, thereby presenting expansion challenges for underground electric construction equipment market, specifically in small & medium-sized construction firms. Moreover, upgradation into the latest technologies is a continuous process as the existing technologies become obsolete with time. Hence, the market demands continuous efforts which becomes a significant challenge for the market players. On the contrary, innovations in battery technology and surge in shift toward renewable energy sources present a compelling opportunity for the underground electric construction equipment market. With declining battery costs and expanding renewable energy infrastructure, the economic viability of the equipment is becoming substantially apparent.
Segment Review
The underground electric construction equipment market is segmented into offering type, equipment type, application, and region. On the basis of offering type, the market is bifurcated into products and services. By equipment type, it is divided into boomers, loaders, trucks, drill rigs, excavators, trenchers, and others. As per application, it is classified into oil & gas, railway & highway, municipal engineering, underground mining, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key Findings
On the basis of offering type, the products segment held the highest market share in 2023.
By equipment type, the loaders segment acquired a high market share in 2023.
As per application, the underground mining segment dominated the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The major players operating in the global underground electric construction equipment market include Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Liebherr Group, J.C. Bamford Excavators Ltd., Sany Group, Doosan Infracore, XCMG Group, and Terex Corporation. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Technology Trend Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Average Selling Price Analysis / Price Point Analysis
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Import Export Analysis/Data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- List of customers/consumers/raw material suppliers- value chain analysis
- Market share analysis of players at global/region/country level
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Offering Type
By Equipment Type
- Boomers
- Loaders
- Trucks
- Drill Rigs
- Excavators
- Trenchers
- Others
By Application
- Oil and Gas
- Railway and Highway
- Municipal Engineering
- Underground Mining
- Others
By Region
- North America
- Europe
- France
- Germany
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- South Africa
- Nigeria
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report Description
- 1.2. Key Market Segments
- 1.3. Key Benefits
- 1.4. Research Methodology
- 1.4.1. Primary Research
- 1.4.2. Secondary Research
- 1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
- 3.1. Market Definition and Scope
- 3.2. Key Findings
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
- 3.3. Porter's Five Forces Analysis
- 3.3.1. Bargaining Power of Suppliers
- 3.3.2. Threat of New Entrants
- 3.3.3. Threat of Substitutes
- 3.3.4. Competitive Rivalry
- 3.3.5. Bargaining Power among Buyers
- 3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
CHAPTER 4: UNDERGROUND ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY OFFERING TYPE
- 4.1. Market Overview
- 4.1.1 Market Size and Forecast, By offering Type
- 4.2. Products
- 4.2.1. Key Market Trends, Growth Factors and Opportunities
- 4.2.2. Market Size and Forecast, By Region
- 4.2.3. Market Share Analysis, By Country
- 4.3. Services
- 4.3.1. Key Market Trends, Growth Factors and Opportunities
- 4.3.2. Market Size and Forecast, By Region
- 4.3.3. Market Share Analysis, By Country
CHAPTER 5: UNDERGROUND ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY EQUIPMENT TYPE
- 5.1. Market Overview
- 5.1.1 Market Size and Forecast, By Equipment Type
- 5.2. Boomers
- 5.2.1. Key Market Trends, Growth Factors and Opportunities
- 5.2.2. Market Size and Forecast, By Region
- 5.2.3. Market Share Analysis, By Country
- 5.3. Loaders
- 5.3.1. Key Market Trends, Growth Factors and Opportunities
- 5.3.2. Market Size and Forecast, By Region
- 5.3.3. Market Share Analysis, By Country
- 5.4. Trucks
- 5.4.1. Key Market Trends, Growth Factors and Opportunities
- 5.4.2. Market Size and Forecast, By Region
- 5.4.3. Market Share Analysis, By Country
- 5.5. Drill Rigs
- 5.5.1. Key Market Trends, Growth Factors and Opportunities
- 5.5.2. Market Size and Forecast, By Region
- 5.5.3. Market Share Analysis, By Country
- 5.6. Excavators
- 5.6.1. Key Market Trends, Growth Factors and Opportunities
- 5.6.2. Market Size and Forecast, By Region
- 5.6.3. Market Share Analysis, By Country
- 5.7. Trenchers
- 5.7.1. Key Market Trends, Growth Factors and Opportunities
- 5.7.2. Market Size and Forecast, By Region
- 5.7.3. Market Share Analysis, By Country
- 5.8. Others
- 5.8.1. Key Market Trends, Growth Factors and Opportunities
- 5.8.2. Market Size and Forecast, By Region
- 5.8.3. Market Share Analysis, By Country
CHAPTER 6: UNDERGROUND ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY APPLICATION
- 6.1. Market Overview
- 6.1.1 Market Size and Forecast, By Application
- 6.2. Oil And Gas
- 6.2.1. Key Market Trends, Growth Factors and Opportunities
- 6.2.2. Market Size and Forecast, By Region
- 6.2.3. Market Share Analysis, By Country
- 6.3. Railway And Highway
- 6.3.1. Key Market Trends, Growth Factors and Opportunities
- 6.3.2. Market Size and Forecast, By Region
- 6.3.3. Market Share Analysis, By Country
- 6.4. Municipal Engineering
- 6.4.1. Key Market Trends, Growth Factors and Opportunities
- 6.4.2. Market Size and Forecast, By Region
- 6.4.3. Market Share Analysis, By Country
- 6.5. Underground Mining
- 6.5.1. Key Market Trends, Growth Factors and Opportunities
- 6.5.2. Market Size and Forecast, By Region
- 6.5.3. Market Share Analysis, By Country
- 6.6. Others
- 6.6.1. Key Market Trends, Growth Factors and Opportunities
- 6.6.2. Market Size and Forecast, By Region
- 6.6.3. Market Share Analysis, By Country
CHAPTER 7: UNDERGROUND ELECTRIC CONSTRUCTION EQUIPMENT MARKET, BY REGION
- 7.1. Market Overview
- 7.1.1 Market Size and Forecast, By Region
- 7.2. North America
- 7.2.1. Key Market Trends and Opportunities
- 7.2.2. Market Size and Forecast, By offering Type
- 7.2.3. Market Size and Forecast, By Equipment Type
- 7.2.4. Market Size and Forecast, By Application
- 7.2.5. Market Size and Forecast, By Country
- 7.2.6. U.S. Underground Electric Construction Equipment Market
- 7.2.6.1. Market Size and Forecast, By offering Type
- 7.2.6.2. Market Size and Forecast, By Equipment Type
- 7.2.6.3. Market Size and Forecast, By Application
- 7.2.7. Canada Underground Electric Construction Equipment Market
- 7.2.7.1. Market Size and Forecast, By offering Type
- 7.2.7.2. Market Size and Forecast, By Equipment Type
- 7.2.7.3. Market Size and Forecast, By Application
- 7.2.8. Mexico Underground Electric Construction Equipment Market
- 7.2.8.1. Market Size and Forecast, By offering Type
- 7.2.8.2. Market Size and Forecast, By Equipment Type
- 7.2.8.3. Market Size and Forecast, By Application
- 7.3. Europe
- 7.3.1. Key Market Trends and Opportunities
- 7.3.2. Market Size and Forecast, By offering Type
- 7.3.3. Market Size and Forecast, By Equipment Type
- 7.3.4. Market Size and Forecast, By Application
- 7.3.5. Market Size and Forecast, By Country
- 7.3.6. France Underground Electric Construction Equipment Market
- 7.3.6.1. Market Size and Forecast, By offering Type
- 7.3.6.2. Market Size and Forecast, By Equipment Type
- 7.3.6.3. Market Size and Forecast, By Application
- 7.3.7. Germany Underground Electric Construction Equipment Market
- 7.3.7.1. Market Size and Forecast, By offering Type
- 7.3.7.2. Market Size and Forecast, By Equipment Type
- 7.3.7.3. Market Size and Forecast, By Application
- 7.3.8. Italy Underground Electric Construction Equipment Market
- 7.3.8.1. Market Size and Forecast, By offering Type
- 7.3.8.2. Market Size and Forecast, By Equipment Type
- 7.3.8.3. Market Size and Forecast, By Application
- 7.3.9. UK Underground Electric Construction Equipment Market
- 7.3.9.1. Market Size and Forecast, By offering Type
- 7.3.9.2. Market Size and Forecast, By Equipment Type
- 7.3.9.3. Market Size and Forecast, By Application
- 7.3.10. Rest of Europe Underground Electric Construction Equipment Market
- 7.3.10.1. Market Size and Forecast, By offering Type
- 7.3.10.2. Market Size and Forecast, By Equipment Type
- 7.3.10.3. Market Size and Forecast, By Application
- 7.4. Asia-Pacific
- 7.4.1. Key Market Trends and Opportunities
- 7.4.2. Market Size and Forecast, By offering Type
- 7.4.3. Market Size and Forecast, By Equipment Type
- 7.4.4. Market Size and Forecast, By Application
- 7.4.5. Market Size and Forecast, By Country
- 7.4.6. China Underground Electric Construction Equipment Market
- 7.4.6.1. Market Size and Forecast, By offering Type
- 7.4.6.2. Market Size and Forecast, By Equipment Type
- 7.4.6.3. Market Size and Forecast, By Application
- 7.4.7. Japan Underground Electric Construction Equipment Market
- 7.4.7.1. Market Size and Forecast, By offering Type
- 7.4.7.2. Market Size and Forecast, By Equipment Type
- 7.4.7.3. Market Size and Forecast, By Application
- 7.4.8. India Underground Electric Construction Equipment Market
- 7.4.8.1. Market Size and Forecast, By offering Type
- 7.4.8.2. Market Size and Forecast, By Equipment Type
- 7.4.8.3. Market Size and Forecast, By Application
- 7.4.9. South Korea Underground Electric Construction Equipment Market
- 7.4.9.1. Market Size and Forecast, By offering Type
- 7.4.9.2. Market Size and Forecast, By Equipment Type
- 7.4.9.3. Market Size and Forecast, By Application
- 7.4.10. Rest of Asia-Pacific Underground Electric Construction Equipment Market
- 7.4.10.1. Market Size and Forecast, By offering Type
- 7.4.10.2. Market Size and Forecast, By Equipment Type
- 7.4.10.3. Market Size and Forecast, By Application
- 7.5. Latin America
- 7.5.1. Key Market Trends and Opportunities
- 7.5.2. Market Size and Forecast, By offering Type
- 7.5.3. Market Size and Forecast, By Equipment Type
- 7.5.4. Market Size and Forecast, By Application
- 7.5.5. Market Size and Forecast, By Country
- 7.5.6. Brazil Underground Electric Construction Equipment Market
- 7.5.6.1. Market Size and Forecast, By offering Type
- 7.5.6.2. Market Size and Forecast, By Equipment Type
- 7.5.6.3. Market Size and Forecast, By Application
- 7.5.7. Argentina Underground Electric Construction Equipment Market
- 7.5.7.1. Market Size and Forecast, By offering Type
- 7.5.7.2. Market Size and Forecast, By Equipment Type
- 7.5.7.3. Market Size and Forecast, By Application
- 7.5.8. Colombia Underground Electric Construction Equipment Market
- 7.5.8.1. Market Size and Forecast, By offering Type
- 7.5.8.2. Market Size and Forecast, By Equipment Type
- 7.5.8.3. Market Size and Forecast, By Application
- 7.5.9. REST of Latin America Underground Electric Construction Equipment Market
- 7.5.9.1. Market Size and Forecast, By offering Type
- 7.5.9.2. Market Size and Forecast, By Equipment Type
- 7.5.9.3. Market Size and Forecast, By Application
- 7.6. Middle East And Africa
- 7.6.1. Key Market Trends and Opportunities
- 7.6.2. Market Size and Forecast, By offering Type
- 7.6.3. Market Size and Forecast, By Equipment Type
- 7.6.4. Market Size and Forecast, By Application
- 7.6.5. Market Size and Forecast, By Country
- 7.6.6. South Africa Underground Electric Construction Equipment Market
- 7.6.6.1. Market Size and Forecast, By offering Type
- 7.6.6.2. Market Size and Forecast, By Equipment Type
- 7.6.6.3. Market Size and Forecast, By Application
- 7.6.7. Nigeria Underground Electric Construction Equipment Market
- 7.6.7.1. Market Size and Forecast, By offering Type
- 7.6.7.2. Market Size and Forecast, By Equipment Type
- 7.6.7.3. Market Size and Forecast, By Application
- 7.6.8. Saudi Arabia Underground Electric Construction Equipment Market
- 7.6.8.1. Market Size and Forecast, By offering Type
- 7.6.8.2. Market Size and Forecast, By Equipment Type
- 7.6.8.3. Market Size and Forecast, By Application
- 7.6.9. UAE Underground Electric Construction Equipment Market
- 7.6.9.1. Market Size and Forecast, By offering Type
- 7.6.9.2. Market Size and Forecast, By Equipment Type
- 7.6.9.3. Market Size and Forecast, By Application
- 7.6.10. Rest of Middle East And Africa Underground Electric Construction Equipment Market
- 7.6.10.1. Market Size and Forecast, By offering Type
- 7.6.10.2. Market Size and Forecast, By Equipment Type
- 7.6.10.3. Market Size and Forecast, By Application
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top Winning Strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top Player Positioning, 2023
CHAPTER 9: COMPANY PROFILES
- 9.1. Company 1
- 9.1.1. Company Overview
- 9.1.2. Key Executives
- 9.1.3. Company Snapshot
- 9.1.4. Operating Business Segments
- 9.1.5. Product Portfolio
- 9.1.6. Business Performance
- 9.1.7. Key Strategic Moves and Developments
- 9.2. Company 2
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Operating Business Segments
- 9.2.5. Product Portfolio
- 9.2.6. Business Performance
- 9.2.7. Key Strategic Moves and Developments
- 9.3. Company 3
- 9.3.1. Company Overview
- 9.3.2. Key Executives
- 9.3.3. Company Snapshot
- 9.3.4. Operating Business Segments
- 9.3.5. Product Portfolio
- 9.3.6. Business Performance
- 9.3.7. Key Strategic Moves and Developments
- 9.4. Company 4
- 9.4.1. Company Overview
- 9.4.2. Key Executives
- 9.4.3. Company Snapshot
- 9.4.4. Operating Business Segments
- 9.4.5. Product Portfolio
- 9.4.6. Business Performance
- 9.4.7. Key Strategic Moves and Developments
- 9.5. Company 5
- 9.5.1. Company Overview
- 9.5.2. Key Executives
- 9.5.3. Company Snapshot
- 9.5.4. Operating Business Segments
- 9.5.5. Product Portfolio
- 9.5.6. Business Performance
- 9.5.7. Key Strategic Moves and Developments
- 9.6. Company 6
- 9.6.1. Company Overview
- 9.6.2. Key Executives
- 9.6.3. Company Snapshot
- 9.6.4. Operating Business Segments
- 9.6.5. Product Portfolio
- 9.6.6. Business Performance
- 9.6.7. Key Strategic Moves and Developments
- 9.7. Company 7
- 9.7.1. Company Overview
- 9.7.2. Key Executives
- 9.7.3. Company Snapshot
- 9.7.4. Operating Business Segments
- 9.7.5. Product Portfolio
- 9.7.6. Business Performance
- 9.7.7. Key Strategic Moves and Developments
- 9.8. Company 8
- 9.8.1. Company Overview
- 9.8.2. Key Executives
- 9.8.3. Company Snapshot
- 9.8.4. Operating Business Segments
- 9.8.5. Product Portfolio
- 9.8.6. Business Performance
- 9.8.7. Key Strategic Moves and Developments
- 9.9. Company 9
- 9.9.1. Company Overview
- 9.9.2. Key Executives
- 9.9.3. Company Snapshot
- 9.9.4. Operating Business Segments
- 9.9.5. Product Portfolio
- 9.9.6. Business Performance
- 9.9.7. Key Strategic Moves and Developments
- 9.10. Company 10
- 9.10.1. Company Overview
- 9.10.2. Key Executives
- 9.10.3. Company Snapshot
- 9.10.4. Operating Business Segments
- 9.10.5. Product Portfolio
- 9.10.6. Business Performance
- 9.10.7. Key Strategic Moves and Developments