Both the construction and agricultural industries rely heavily on the loading and unloading of large quantities of material. Skid steer loaders are one type of loader used for this purpose. A compact or small equipment with a rigid frame and raise arms is a skid steer loader. Skid steer loaders are used in a variety of end-use industries, including the construction, agricultural, and mining sectors. Skid steer loaders also have a number of benefits, including high productivity, enhanced efficiency, great lifting capacity, high speed, good fuel efficiency, and less carbon emissions. Skid steer loader demand is skyrocketing due to all of these uses and benefits in different parts of the world.
The skid steer loader market is projected to grow at a CAGR of 2.3% over the course of the forecast period, from US$2.35 billion in 2022 to US$2.95 billion in 2032.
Demand for skid steer loaders has grown at a CAGR of 2.3 to 3 percent during the past five years. The increased need for energy-efficient construction equipment is expected to increase skid steer loader sales.
Numerous new building projects are introduced around the world’s various areas as the construction industry is expanding, which fuels demand for skid steers and expands the market. A rental system is another emerging trend in the market that is helping to expand it.
Skid Steer Loader Market: Segmentation
Based on the product type
- Wheeled
- Tracked
Based on the application
- Construction
- Agriculture
- Mining
- Others
Based on the capacity
- Below 1550 lb
- 1550-2000 ldb
- 2000-4000 lb
- Above 4000 lb
Market participants
CNH Industrial, Doosan Corporation, Takeuchi Construction Machinery, Kato Works Co., Ltd, Hyundai Heavy Industries Co, Hitachi Construction Machinery Co., Ltd, Deere & Co, Komatsu Ltd. And others
