Global Skid Steer Loaders Market Analysis & Trends - Industry Forecast to 2030
Skid Steer Loaders: Market Size
From $3.26 billion in 2024, the global Skid Steer Loaders market is projected to reach $4.73 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 6.4% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include, growing trend of rental constructions, rising awareness about the implementation of automation and increasing spending on infrastructure development.
Global Skid Steer Loaders Market: Market Dynamics
The growing construction industry which in turn employs the related equipment is fueling the skid steer loaders market. The technological expansion presented by manufacturers in the design of skid steer loader is enhancing the market over traditional counterparts, as the enhanced maneuverability features and loading capacities have upgraded the productivity and efficiency of skid steer loader, assisted with reduction of carbon emission and fuel consumption. Furthermore, the actions associated with dredge, landfill and waste transfer in building sites are deemed to fuel the demand for skid steer loaders. Due to all such applications and benefits of skid steer loader, its demand is growing immensely across the globe.
For instance, Hitachi offers GPS enabled intelligent machine control loaders, which give great exactness and precision at job sites. The launch of such cutting-edge technologies is additionally favoring the loader's market share.
On the other hand, the high cost incurred in preventive maintenance and high initial investment is likely to obstruct the profit boundaries. In addition, rise in a number of infrastructure projects worldwide will further boost for the skid steer loaders cultivation market.
Impact of COVID-19 on Skid Steer Loaders
The outbreak of COVID-19 has a negative influence on the Skid Steer Loaders Market. Most of the worldwide skid steer loader manufacturers are heading crucial issues like low production productivity due to government-declared lockdowns and shutdown of all operations, which additionally affects the production of skid steer loaders. The skid steer loader industry has been presently hindered due to the absence of a workforce, owing to the spread of the coronavirus. Disturbance due to the COVID-19 outbreak is perceived in the skid steer loader market, which has begun uncertainty toward demand and supply networks for skid steer loader manufacturers.
By Rated Operating Capacity (ROC)
1,251- 2,000 Lbs Segment, Dominate the Market in 2024
The 1,251- 2,000 Lbs segment made huge revenue in 2024 and growing its prominence during the forecast period. The growth of the segment is accredited to its extensive use in construction industries worldwide as it is highly compatible. Additionally, this type of skid steer loader is extremely preferred for ground maintenance work, landscaping, and agricultural operations for medium and small-sized farms.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period. The growth can be accredited to growing construction activities in developing countries in the region such as India and China. Moreover, an investment made by numerous governments in the region to advance infrastructure is anticipated to fuel demand for construction machinery including skid steer loaders.
List of the Key Players Profiled in the Market Include: • AB Volvo
• ASV Sales & Service
• Bobcat Company
• Caterpillar
• CNH Agriculture N.V.
• Deere & Company
• Doosan Bobcat
• Hyundai Construction Equipment Co., Ltd
• JCB, Inc.
• Komatsu, Ltd
• Kubota Corporation
• Wacker Neuson SE
List of the Regions/Countries Profiled in the Market Include: North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others