Global Skid Steer Loaders Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Skid Steer Loaders Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Skid Steer Loaders market finds that the global Skid Steer Loaders market reached a value of USD 2635.53 million in 2022. It’s expected that the market will achieve USD 3384.37 million by 2028, exhibiting a CAGR of 4.26% during the forecast period.

The impact of COVID-19 health emergencies on consumption

COVID-19 health emergencies have occurred worldwide, especially in China, Europe, and the United States, and the number of infections is increasing. In order to ensure and maintain health and reduce the risk of infection, construction activities in the construction industry and operations in other industries may be restricted, and the demand for skid steer loaders may also be affected.

High maintenance costs and high initial investment

Compared with other equipment in the same field, high maintenance costs and higher initial investment have challenged the growth of the skid steer market. Higher initial investment limits the global skid steer loader market. The increase in the manufacturing cost of skid-steer loaders is relatively high, resulting in higher prices for skid-steer loaders, and the demand for construction equipment by SMEs is very high, but the lack of high investment capacity will eventually hinder the growth of the market. Once there is a problem with the skid steer loader, the efficiency of the work site will be reduced and losses will be caused. At the same time, the maintenance cost of the skid steer loader will be very high. Therefore, the combined impact of maintenance costs and initial investment costs is a limiting factor in the development of the skid steer loader market.

Continuous expansion of application fields

The ability to work in tight spaces and lower operating costs make it the first choice for construction and mining sites. Due to its compact operation and versatility, Skid Steer Loaders can be maneuvered in tight spaces, which facilitates construction activities where large vehicles cannot reach or are difficult to operate. In addition, depending on the specific task to be performed, these loaders can be equipped with different accessories such as forks, buckets, hydraulic hammers, augers, stump shredders, trenchers and garden harrows. Their ability to perform multiple tasks by simply changing attachments has positively impacted their adoption in vertical industries. Therefore, the applications in agriculture, construction, mining and other industries are constantly expanding.

Rising construction activity in the global residential sector

Increasing global construction activity in the residential sector is expected to be a key driver of growth in the skid steer loader market. Increasing population and rising personal purchasing power parity are driving demand for construction activities, which in turn has accelerated the growth of the skid steer loader market. Due to the development of smart cities, the growth of the skid steer loader market is expected to be positive. Migration from rural to urban areas has also led to increased construction activity and the use of innovative technologies during construction, which are estimated to drive demand for skid steer loaders.

Region Overview:

North America is projected to account for a considerable share of the Skid Steer Loaders market and is expected to become the largest region by 2028.

Company Overview:

Bobcat is one of the major players operating in the Skid Steer Loaders market, holding a share of 35.16% in 2023.

Bobcat

The company's line of business includes the wholesale distribution of construction or mining cranes, excavating machinery and equipment.

CNH

CNH Industrial NV through its brands, designs, produces and sells trucks, commercial vehicles, buses, special vehicles, agricultural and construction equipment, in addition to engines and transmissions for those vehicles and engines for marine applications. The company also provides equipment financing services.

Segmentation Overview:

Among different product types, Wheeled Skid Steer Loaders segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Construction segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Skid Steer Loaders market covered in Chapter 3:

J C Bamford Excavators
Hyundai
Deere & Company
Bobcat
Takeuchi Manufacturing
Terex
Liugong Machinery
Caterpillar
Lonking Machinery
CNH
AB Volvo
Manitou
KUBOTA Corporation
Komatsu

In Chapter 4 and Chapter 14.2, on the basis of types, the Skid Steer Loaders market from 2018 to 2029 is primarily split into:

Wheeled Skid Steer Loaders
Tracked Skid Steer Loaders

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Skid Steer Loaders market from 2018 to 2029 covers:

Construction
Agriculture & Forestry
Landscaping
Industrial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)