South Korea Electric Construction Equipment Market 2022-2027

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    SOUTH KOREA ELECTRIC CONSTRUCTION EQUIPMENT MARKET

     

    INTRODUCTION

     

    Electric construction equipment produces zero carbon emissions and supports green building techniques because it doesn’t need gasoline or diesel fuel.

     

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    Lithium-ion batteries are the power source for all-electric machinery, which virtually eliminates the need for fossil fuels. For businesses operating in emission-restricted regions where the use of diesel-powered equipment is prohibited, these battery-powered devices are a must.

     

    Lower maintenance expenses are another benefit of using electric construction equipment. Electric machines usually have a lot fewer parts than diesel counterparts, and lithium-ion batteries and electric motors are almost maintenance-free.

     

    As a result, less time is needed for maintenance overall and it costs less to replace individual pieces.

     

    SOUTH KOREA ELECTRIC CONSTRUCTION EQUIPMENT MARKET SIZE AND FORECAST

     

    The South Korea Electric Construction Equipment Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.

     

    NEW PRODUCT LAUNCH

     

    The 2.5-ton battery-powered compact excavator is the first electric equipment from a major manufacturer to enter the Asian market. It will first be introduced in Korea, with future rollouts in China, Japan, and Singapore being planned.

     

    Stronger pollution restrictions, financial incentives from the government, and a pressing need to construct more sustainably have all contributed to an increase in the demand for electric equipment throughout the region.

     

    Due to its ability to match power and performance with zero emissions, nearly silent operation, and a significantly more pleasant working environment for operators, the Volvo ECR25 Electric excavator has already proven to be a success in Europe and North America since it was introduced.

     

    Due to its swift acceptance of cutting-edge working practices and new technology, as well as its quick reaction to developing an infrastructure for electric charging, Korea was chosen as the first market for Asia.

     

    The next-generation electric forklift, the B-X Series, is being introduced by Hyundai Construction Equipment. With B-X, a next-generation, high-performance electric forklift, Hyundai Construction Equipment will actively pursue the eco-friendly logistics industry.

     

    The most popular indoor workplace product, the 2.5-ton electric forklift, is anticipated to be the company’s key product, together with the first medium-sized hydrogen forklift it created in Korea, to dominate the green logistics sector.

     

    By utilizing lithium iron phosphate (LFP) batteries for the first time in the B-X series, Hyundai Construction Equipment is dedicated to set norms for small electric forklift markets, where cost-effectiveness is vital.

     

    LFP batteries are better suited for the logistics sector’s lengthy running hours and huge volume of items since they charge more quickly and provide more power than lead-acid batteries, which are often used in conventional electric forklifts.

     

    Hyundai Construction Equipment has increased driving convenience for this series. In order to provide an interior structure that can sustain continuous operation, the ergonomics of the driver’s seat design and the air-conditioning and heating features were enhanced.

     

    Additionally, it enables side battery extraction, which improves maintenance simplicity. Traditional electric forklifts required cranes to remove batteries, but the B-X Series enables safer and easier removal of batteries from the side using forklifts or hand pallets.

     

     

    COMPANY PROFILE

     

    THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. What is the average cost per South Korea Electric Construction Equipment Market right now and how will it change in next 5-6 years?
    2. Average cost to set up a Electric Construction Equipment Market in South Korea?
    3. How many South Korea Electric Construction Equipment Market are manufactured per annum globally? Who are the sub-component suppliers in different regions?
    4. What is happening in the overall public, globally?
    5. Cost breakup of a South Korea Electric Construction Equipment Market and key vendor selection criteria
    6. Where is the South Korea Electric Construction Equipment Market manufactured? What is the average margin per equipment?
    7. Market share of South Korea Electric Construction Equipment Market manufacturers and their upcoming products
    8. The most important planned South Korea Electric Construction Equipment Market in next 2 years
    9. Details on network of major South Korea Electric Construction Equipment Market and pricing plans
    10. Cost advantage for OEMs who manufacture South Korea Electric Construction Equipment Market in-house
    11. 5 key predictions for next 5 years in South Korea Electric Construction Equipment Market
    12. Average B-2-B South Korea Electric Construction Equipment Market price in all segments
    13. Latest trends in South Korea Electric Construction Equipment Market, by every market segment
    14. The market size (both volume and value) of South Korea Electric Construction Equipment Market in 2022-2027 and every year in between?
    15. Global production breakup of South Korea Electric Construction Equipment Market, by suppliers and their OEM relationship
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

     

     

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