Skid Steer Loader Market Industry Analysis Share Growth Trends Forecasts 2022

Market Overview:

Skid-steer loaders are used in the construction industry for carrying out numerous tasks on the construction site. Skid-steer loaders are small in size, rigid frame, and engine-powered machine with lift arms. They are fitted with attachments and labour-saving tools.

The growth of the skid steer loader market is majorly driven by development of smart cities. Immigration of individuals from rural to urban areas is leading to investments towards the development of smart cities which involves adoption of innovative technology in the construction process which ultimately results in growth of the skid-steer loaders market. The increasing number of infrastructure projects which includes construction of highways, railways, roads, and ports, is expected to increase the use of skid steer loaders, thereby driving the growth of market. The emerging trend of renting the skid steer loaders is driving the use of such high cost machines for construction projects, which in turn leads to the growth of the market. However, the increase in manufacturing cost of skid steer loaders is expected to hamper the growth of the market.

Market Growth Influence:

The growth of the global skid steer loader market due to the boom of the construction industry with the increasing urbanization. This increase in urbanization has led to the rise in the number of construction projects in developing nations, thereby escalating the demand for skid-steer loaders. The huge cost of equipment is leading to the growth of the rental business, making it one of the major trends emerging in the market. Having equipment on rental basis is a cost-effective alternative for customers that also promotes the growth of the market. However, the rise in manufacturing costs of loaders due to the increase in the price of raw materials, shrinks the profit margin of manufacturers, thus acting as a restraint to the growth of the market.

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Market Research Analysis:

Among all applications, the infrastructure sector is expected to be the largest market segment during the forecast period. Increasing investments in the infrastructure sector by various governments across the globe is estimated to enhance the growth of the market during the forecast period. Being aided by the construction industry is also expected to contribute to the growth of the global skid steer loader market.
North America region is expected to dominate the global skid steer loader market with the highest CAGR, owing to the huge expenditure on R&D by the established players in the region such as Bobcat Company and Caterpillar Inc. Asia-Pacific region is also expected to grow due to heavy investments in the construction of infrastructure such as the construction of roads, residential areas and ports in the region. In developing economies such as China, huge infrastructural investments are made in educational, healthcare and transportation projects, which are further expected to boost the skid steer loader market in the region.

Scope of the Report:

This study provides an overview of the global skid steer loader market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Skid steer loader market by its application and region.

 By Application
• Infrastructure Sector
• Residential Sector

 By Region
• North America
• Asia Pacific
• Europe
• Rest of the World

Key Players:

Bobcat Company (U.S.),
Case CE (Netherlands),
Caterpillar Inc. (U.S.),
Komatsu Ltd. (Japan),
Terex Corporation (U.S.),
LiuGong Machinery Co.Ltd. (China),
Lonking Holdings Limited (China),
J C Bamford Excavators Ltd. (U.K.),
Liebherr Group (Switzerland)
Hitachi Ltd. (Japan).

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This release was published on openPR.