Top Electric Construction Equipment Companies

The electric construction equipment market is expected to reach USD 6.07 billion by 2032, from USD 2.45 billion in 2025, with a CAGR of 13.8%. This growth is primarily driven by increased stringency of emission regulations, reduced ventilation costs in underground mining due to electric equipment, and the preference for low-noise construction machines in residential areas. Key players operating in the electric construction equipment market are Caterpillar Inc. (US), Komatsu Ltd. (Japan), Volvo Construction Equipment (Sweden), Hitachi Construction Machinery Co., Ltd. (Japan), and JCB (UK). Between 2022 and 2025, the most popular strategies used by big players were joint ventures, partnerships, and product developments. These strategies allowed them to expand their clientele and reinvent their product offerings.

To know about the assumptions considered for the study download the pdf brochure

Caterpillar Inc. is a global leader in construction and mining equipment. As part of its strategy to a lower-carbon future, the company has introduced battery-electric vehicles such as the 301.9 Electric Mini Excavator, 906 Electric Compact Wheel Loader, 320 Electric Medium Excavator, 950 GC Electric Medium Wheel Loader, and the 395 Tethered Electric Large Excavator, with 301.9 and 906 models anticipated to be first commercially available. Caterpillar is leading new electrification technologies, such as modular lithium-ion batteries for flexible configurations and sustainability throughout their lifecycle, onboard AC chargers, and offboard DC fast charging options. In September 2024, the company showcased its new technology, Cat Dynamic Energy Transfer (DET), improving operational efficiency and reducing emissions. It plans to expand its electric vehicle lineup, reduce the total operation cost, and maximize value through integrated solutions, with continued investment in electrification infrastructure and next-generation energy management systems.

Komatsu Ltd. specializes in electrifying construction equipment, with diverse offerings such as PC20E, PC26E, and PC33E mini excavators, launched at Bauma 2025 (April 2025) alongside larger electric mining trucks and a prototype electric wheel loader. The company is investing in new technologies like autonomous trolley-assist systems for battery-ready electric drive trucks, which autonomously connect to overhead power lines to boost efficiency and reduce emissions. This was demonstrated in May 2025. Komatsu also showcased an all-electric autonomous underwater bulldozer at CES 2025 in January 2025. Future investments focus on expanding its electric and autonomous equipment lineup, developing advanced charging and energy storage solutions, and recruiting top engineering talent to drive automation and connectivity in construction and mining.

Volvo Construction Equipment is a prominent provider of electric construction and mining vehicles. The company showcased its electric off-highway vehicles at Bauma 2025 (April 2025). It unveiled its first-ever zero-emission-only lineup, encompassing the EC230 Electric Excavator, L120 and L90 Electric Loaders, and the EWR150 Electric Wheeled Excavator, alongside the world’s first serial-produced battery-electric articulated haulers, the A30 Electric and A40 Electric, with payloads of 29 and 39 tons, respectively. Volvo has also started investing in future production capacity for electric heavy construction vehicles, announcing in June 2025 a USD 260 million global expansion, including USD 40 million for the Shippensburg, PA, plant in 2026 to meet growing demand and further advance its leadership in sustainable, electric off-highway equipment.

Hitachi Construction Machinery is a global manufacturer of construction and mining equipment. The company is expanding its portfolio of electric vehicles, including battery-powered excavators such as the ZX17U-EB with swappable batteries, ZX55U-6EB, ZX135-7EB, and an autonomous 14-ton electric excavator, alongside hydrogen-powered and cable-driven models developed with partners like Kiesel Technology (KTEG) and Dimaag AI. At Bauma 2025 (April 2025), Hitachi unveiled its largest electric excavator lineup—nine zero-emission models—and showcased new technologies in electrification, autonomous operation, and integration with energy storage and charging solutions, including collaborations with Alfen NV and Dimaag’s ENCORE technology. The company’s new goals, announced in 2025, center on achieving zero-emission job sites and a carbon-neutral society, supported by initiatives like the Zero-Emission EV-Lab. Future investments will focus on alternative drive concepts, ranging from hydrogen to battery electrics, and expanding global collaborations, including joint ventures with ABB and Komatsu, to electrify massive haul trucks for mining operations.

Market Ranking

Caterpillar, Komatsu, and Volvo are the top three players in the electric construction equipment market. These companies are extensively investing in R&D to showcase high-performance electric and hybrid machinery and have a strong global supply chain and service network that supports rapid adoption of new technologies. Caterpillar has demonstrated large battery-electric mining trucks (notably the 793 prototype in 2022), is developing hydrogen hybrid solutions for off-highway vehicles, and is transforming its proving grounds into sustainable, electrified sites to support future product development. Komatsu leads with a diverse portfolio of electric mini excavators (such as PC20E, PC26E, and PC33E showcased at Bauma 2025) and is accelerating battery-electric development through its acquisition of ABS battery technology, aiming for carbon neutrality by 2050. Meanwhile, Volvo has introduced the world’s first serial-produced battery-electric articulated haulers (A30 Electric and A40 Electric) and a full zero-emission lineup of excavators and loaders at Bauma 2025, with ongoing investment in expanded electric production capacity. All three are committed to expanding their electric product lines, increasing battery technology integration, and supporting customer transitions to low- and zero-emission operation.

Related Reports:

Electric Construction Equipment Market by Type (Excavator, Loader, Grader, Dump Truck, LHD, Self-propelled Sprayer, Tractor), Propulsion (Electric, Hybrid, Hydrogen), Battery Capacity & Chemistry, Power Output, and Region - Global Forecast to 2032

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103,
Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com