IDTechEx forecasts significant growth for electric-powered construction equipment over the next two decades, driven by environmental benefits and lower operating costs. The UK-based research firm highlights the downsides of diesel-powered machinery, which contributes to ongoing pollution and high costs. Electric machines, on the other hand, promise to reduce air and noise pollution while improving efficiency.
The firm’s report, Electric Vehicles in Construction 2024-2044: Technologies, Players, Forecasts, explores key areas such as battery chemistries, market players, and the social impact of electrification. Electric construction machinery requires batteries that offer steady power over extended periods without the high energy density needed for passenger vehicles. Lithium-iron phosphate (LFP) batteries dominate, while nickel-manganese-cobalt (NMC) batteries are more suitable for smaller machines.
Electric vehicles could also lower maintenance and operating costs. For example, replacing hydraulic systems with electric linear actuators would reduce the need for maintenance. While concerns about battery life for full workdays remain, most newer models are equipped with batteries large enough to complete a standard shift.
Electric machines also reduce noise pollution, making job sites quieter and less disruptive to workers and communities. Additionally, emissions are moved off-site to power plants, improving air quality for both workers and nearby residents.
IDTechEx predicts that by 2044, over 650,000 electric construction machines will be sold, and the market will exceed $126 billion, marking a significant shift toward cleaner, more cost-effective machinery in the construction industry.
Related topics: