According to the latest report by IMARC Group, titled “Skid Steer Loader Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global skid steer loader market size reached US$ 2.30 Billion in 2020. A skid steer loader is an engine-powered machine utilized for digging, collecting, lifting, and moving materials, especially sand, dirt, jackhammer cement and load trucks. It is equipped with lift arms and has a rigid frame that can be fitted with attachments and labor-saving gears for making it easier to function. As compared to a conventional loader, a skid steer loader provides improved fuel efficiency, high-load capacity, compact-size and reduced carbon footprints. Consequently, it is extensively used in the construction, agricultural, logistics, mining, and landscaping industries across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Skid Steer Loader Market Trends:
Significant growth in the construction and mining industries, coupled with the increasing adoption of skid steer loaders in road sweeping, site cleanup, material spreading and slab preparation, represents one of the primary factors strengthening the market growth. Moreover, as skid steer loaders are integrated with agriculture-based equipment, including bale handlers, manure scrapers, livestock feed pushers, rotary cultivators, seeders, and mowers, their application is increasing in the agriculture sector around the world. Furthermore, numerous technological advancements, such as loaders with grapples, hydraulic brakes, pallet fork attachments and angle brooms, are positively influencing the market growth. Other factors, such as the increasing investments in the development of advanced infrastructure projects and smart cities, are supporting the market. Looking forward, the market value is projected to reach US$ 2.71 Billion by 2026, expanding at a CAGR of 2.60% during the forecast period (2021-2026).
- Based on the operating capacity, the market has been categorized into up to 1,250 Lbs., 1,251 – 2,000 Lbs., 2,001 – 3,000 Lbs., 3,001 – 4,000 Lbs. and more than 4,000 Lbs.
- On the basis of the power train, the market has been bifurcated into electric and conventional loaders.
- Based on the end use, the market has been divided into construction, mining, logistics, landscaping and ground maintenance, agriculture, and other industries.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Volvo Group, Yanmar Power Technology Co., Ltd., Doosan Infracore Co., Ltd., Caterpillar Inc., CNH Industrial N.V., Deere & Company, J C Bamford Excavators Ltd., Komatsu Ltd., Kubota Corporation and Wacker Neuson SE.
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