Press release
What makes the U.K. and Germany the Biggest Skid Steer Loader Market Players in Europe
The versatility of skid steer loaders, as far as their uses are concerned, complemented by features such as improved productivity, fuel efficiency, and reduced carbon emissions, make them the top choice across various industries such as agriculture, mining, and especially construction.For detailed insights on enhancing your product footprint, request for a sample here - https://www.factmr.com/connectus/sample?flag=S&rep_id=389&utm_source=openpr&utm_medium=Prasad
With construction activities picking pace after temporary shutdowns in 2020 due to the COVID-19 pandemic, demand for skid steer loaders will see a steady rise across regions. Rising urbanization is necessitating the need for fast-tracking infrastructure projects such as construction of highways, metros, roads, and ports, where these loaders are used on a large scale. They can also be used in compact spaces, and can perform a range of tasks by changing their attachments, which further drives demand from various industries.
As per Fact.MR analysis, the global skid steer loader market registered a growth of around 3% in 2021 over 2020, and is projected to progress at the same pace through 2031.
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Key Takeaways from Skid Steer Loader Market Report
• The global skid steer loader market was valued at around US$ 2.7 billion in 2020.
• Increasing construction activities across APEJ has resulted in the region accounting for the most demand for skid steer loaders, with a global market share of close to 40% over the next ten years.
• The market in APEJ will also expand at the highest of over 3.5%, with China playing a big part due to rising investments by the government in construction projects.
• Vertical lift skid steer loaders are expected to hold more than three-fourth of the demand share through 2031.
• 2000-3000 lb skid steer loaders (mid-range) will experience greater use across industries, at over 40% of the total market share.
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• Around half of the demand for skid steer
loaders will come from the construction industry.
• After initial setbacks due to the COVID-19 outbreak, the global skid steer loader market is slated to get back to its original growth pace of around 3% for the long-term duration.
Segmentation of Skid Steer Loader Market
• Lift
o Radial
o Vertical
• Operating Capacity
o Up to 2000 lbs
o 2000 to 3000 lbs
o Above 3000 lbs
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/09/13/1915417/0/en/East-Asia-Accounts-for-Over-1-3rd-of-Volume-Sales-of-Tail-Lifts-Finds-Fact-MR-Study.html
COVID-19 Impact Analysis
The skid steer loader market cannot be studied in isolation from the COVID-19 impact. Owing to supply chain issues, scarcity of labor, and closure of plants, demand was affected due to stagnant construction activities across the globe.
Both, partial and complete lockdowns led to erratic industrial operations. However, with things easing up and industrial activities gradually getting back on track, especially construction activities, demand for skid steer loaders will see a rise, both, in the short term and long term.
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Content Source: https://www.factmr.com/media-release/2046/skid-steer-loader-trends
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