Skid Steer Loader Market Globally Expected to Drive Growth through 2021-2031

With the construction industry growing steadily, demand for skid steer loaders is also increasing, and construction is the largest end user of these machines. Vertical lift skid steer loaders are highly sought-after across sectors, with the mid-range type witnessing high demand as far as operating capacity is concerned.

Fact.MR’s report has a detailed region-wise analysis, where the region of APEJ leads the way for skid steer loader demand and usage.

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Segmentation of Skid Steer Loader Market

Lift
Radial
Vertical

Operating Capacity

Up to 2000 lbs
2000 to 3000 lbs
Above 3000 lbs

Engine Power

Up to 65 hp
66 to 80 hp
Above 80 hp

Application

Construction
Agriculture and Forestry
Mining
Industrial
Ground Maintenance
Others

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Why is China a Huge Market for Skid Steer Loaders?
Asia Pacific Excluding Japan (APEJ) is expected to have dominate the global skid steer loader market during the forecast period, expanding more than the global average at a CAGR of close to 4%. China's in the middle of a massive boom in manufacturing. The nation has the largest construction market in the world, accounting for 20% of all construction investments, worldwide. China is expected to spend nearly USD 13 trillion on buildings by 2031.

This huge increase in the market value of the construction industry will drive great demand for skid steer loaders in the country. This market is expected to reach a valuation of around US$ 600 Mn in 2021. Rapidly rising urban population and increasing use of advanced technology will complement market growth through 2031.

How is Demand Skid Steer Loaders in India Catching Up?
Though the skid steer loader market in India is relatively at an embryonic stage, producers are piling up on the adaptability of this equipment and foresee its growing as an efficient app-driven machine. Confident about the equipment's numerous features and amazing performance capabilities in various sectors, interest for skid steer loaders is rapidly rising.

Scope of application extends to agriculture, recycling, urban infrastructure development, and renewal projects, notably the municipal sector, where a sizeable number of skid steer loaders are being applied in constricted locations.

As per census, due to the population growth rate being around 1.13%, India is expected to become the first country to be home to more than 1.5 billion people by 2030, and its population is set to reach 1.7 billion by 2050. This rapid increase in population is creating major demand for construction, which is expected to drive the skid steer loader market in the country, with sales estimated to expand at an impressive CAGR of more than 4% through 2031.

What makes the U.K. and Germany the Biggest Players in Europe?
In the U.K. and Germany, farms larger than 1,000 ha, on average, cover 20% of the utilized area. The opposite is true for other parts of Europe, where according to this land division, many large farms are on average less than 150 ha. This is the main reason why skid steer loaders are employed more in these two countries in Europe. Europe's skid steer loader market is mainly driven by construction, landscaping, and ground maintenance.

How are Brazil, Argentina, and Mexico Projected to Fare?
Growing focus on using alternate fuel-based machines will propel growth of the skid steer loader market in Latin America. Leading manufacturers are developing skid steer loaders with alternative fuels such as bio-diesel and electric or battery-operated, to attract new consumers and boost sales in the Latin American market. Introduction of products with alternative fuel sources will help vendors gain a larger market share and boost their revenues.

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6 Key Insights on Global Skid Steer Loader Market

Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global skid steer loader market during the forecast period. By 2026 end, APEJ is expected to bring in nearly US$ 1,300 million revenue. Owing to various factors such as increasing urban population, and adoption of advanced technology in the process of construction, the region is likely to see the growth in the market

On the other hand, North America followed by Europe is also anticipated to witness growth in coming years. Growth in the construction activities in the U.S. and Canada are driving the market growth in the region.

Vertical lift Skid steer loaders are anticipated to witness growth throughout the forecast period. Vertical lift are projected to bring in nearly US$ 2,500 million revenue by the end of 2026.

Skid steer loaders with 65-80 HP of engine power are expected to be highly preferred in the market. 65-80 HP engine power skid steer loaders are projected to exceed US$ 1,900 million revenue towards the end of 2026.

2000-3000 Ibs of operating capacity is likely to be preferred by customers. 2000-3000 Ibs operating capacity is projected create an incremental opportunity of over US$ 300 million during 2017-2026.

The construction sector is expected to be the largest sector using skid steer loaders. The construction sector is projected to exceed US$ 1,500 million revenue by 2026 end.

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