Global Skid Steer Loader Market: Analysis of Opportunities Offered by High Growth Economies, Review till 2026
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Skid steer loaders are increasingly used in construction and mining. A recent rise in the number of infrastructure projects has led to the rise in demand for skid steer loaders. However, being an expensive equipment and fluctuating prices of raw materials such as stainless steel, iron, and aluminum are some of the factors that are likely to hinder the growth of the global market for skid steer loaders.
The new report by Fact.MR expects the global market for skid steer loader to experience slow growth. The global market for skid steer loader is estimated to reach US$ 3,273.3 million revenue by 2026 end. In terms of volume, more than 134,500 skid steer loaders are likely to be sold towards 2026 end.
Skid Steer Loaders with Vertical Lift to Gain Maximum Traction
Compared to the skid steer loaders with radial lift, skid steer with vertical lift are likely to gain maximum traction in the market. Skid steer loaders with vertical lift are estimated to surpass US$ 2,400 million revenue by 2026 end. In order to enhance the productivity, manufacturers are offering skid steer loaders with vertical lift along with the maximum lift capacity.
Skid Steer Loaders with Engine Power of 65-80 HP to be Most Preferred by Customers
Skid steer loaders with the engine power of 65-80 HP are likely to be most preferred loaders by customers. By 2026 end, skid steer loaders with engine power of 65-80 HP are estimated to reach close to US$ 2000 million revenue. Ease of operation and reliability are the major factors that are resulting in the increased use of skid steer loaders with 65-80 horsepower.
2000-3000 lbs Skid Steer Loaders to Witness Highest Growth between 2017 and 2026
Skid steer loaders with the operating capacity of 2000-3000 Ibs are likely to witness the highest growth between 2017 and 2026. By 2026 end, operating capacity of 2000-3000 Ibs is estimated to bring in more than US$ 1,400 million revenue. Increased performance and productivity is driving skid steer loaders with 2000-3000 Ibs. Also, more ground-to-surface contact helps in optimizing machine power, thereby improving performance and productivity.
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Skid Steer Loaders to Find Largest Application in Construction Industry
Among various industries, skid steer loaders are likely to find the largest application in the construction industry. Increasing infrastructure projects across the globe are driving the demand for skid steer loaders. Moreover, construction equipment users are adopting tracks over tires, hence solution known as Over-the-tire-track (OTT) is being used that can convert skid steer loaders into compact track loader.
The report also profiles companies that are expected to remain active in the expansion of global skid steer loader market through 2026, which include Zhejiang Hero Time Machinery Co., Ltd., Takeuchi Construction Machinery, Sany Group Co. Ltd., Kato Works Co., Ltd., B E M L Ltd, Guangxi Liugong Machinery Co., Ltd., XCMG, Wacker Neuson SE, Hyundai Heavy Industries Co., Ltd., Kubota Corporation, JCB, Inc., CNH Industrial N.V., Yanmar Co., Ltd., Doosan Bobcat Inc., Volvo Construction Equipment and Services, Inc., Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Deere & Co., and Caterpillar Inc.
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