Author: Vikas Kumar
24 November 2023
The demand for electric construction equipments is increasing due to the growing number of battery manufacturers worldwide with high manufacturing capacity (GWh). The demand for lithium-ion batteries for electric construction equipments is rising rapidly. For that reason, developing domestic battery supply chains, including battery manufacturing capacity, is becoming increasingly important as countries strive to shift away from gasoline vehicles to EVs. China is by far the leader in the battery race with nearly 80% of global Li-ion manufacturing capacity. This will directly increase the demand for electric vehicles and batteries. In addition, the growing production capacity will directly have a positive impact on the sales of electric vehicles by fulfilling the demand of EV manufacturers. Hence, boost the growth of EV battery market. Further, the APAC Electric Construction Equipment Market is expected to grow at a strong CAGR of 15.5% during the forecast period (2022-2030). APAC is anticipated to emerge as the fastest growth in the EV industry. Moreover, manufacturers in APAC are investing in research and development to produce innovative and technologically advanced products. These new products are designed to meet the specific requirements of different industries and are aimed at improving efficiency, reliability, and safety
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APAC Electric Construction Equipment Market Revenue (2022-2030)- USD Mn.
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Global Electric Construction Equipment Market Segmentation
Market Insight, by Equipment Type
Market Insight, by Battery Output
Market Insight, by Battery Type
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
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