Skid steer loader demand is rising in tandem with the construction industry’s steady growth, and construction is the largest end-user of these machines. Vertical lift skid steer loaders are in high demand across industries, with the mid-range model seeing the most demand in terms of operating capacity. The report by Fact.MR includes a detailed region-by-region analysis, with the APEJ region leading the way in terms of skid steer loader demand and usage.
According to a Fact.MR market research report, the global skid steer loader market is expected to grow at a slow pace, with a CAGR of 3.1 percent in terms of value. By the year 2031,
Segmentation of Skid Steer Loader Market
Lift
-
- Radial
- Vertical
Operating Capacity
-
- Up to 2000 lbs
- 2000 to 3000 lbs
- Above 3000 lbs
Engine Power
-
- Up to 65 hp
- 66 to 80 hp
- Above 80 hp
Application
-
- Construction
- Agriculture and Forestry
- Mining
- Industrial
- Ground Maintenance
- Others
Which firms are dominating the skid steer loader market?
Bobcat Company, CNH Agriculture N.V., ASV Sales & Services, Komatsu Ltd., and Wacker Neuson SE are among the leading market players. Total sales unit growth for the Bobcat range in EMEA reached 11.0 percent in 2019 compared to 2018, with a very impressive growth of around 12.7 percent.
It is the market leader that has established its dominance by selling more skid steer loaders than all of its competitors combined. All players in a moderately consolidated market are attempting to improve their market position. Forming strategic partnerships, striking investments, and engaging in mergers and acquisitions are some of the initiatives and strategies that have been implemented.
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