Skid Steer Loader Market Research Report - Global Forecast to 2030

Skid Steer Loader Market Information Report by Application (Infrastructure Sector, Residential Sector) and By Region - Global Forecast To 2030

ID: MRFR/CO/1713-HCR | February 2021 | Region: Global | 111 pages         

Skid Steer Loader Market

The global skid steer loader market value was at USD 2.3 Billion in 2020 which is expected to grow to USD 2,374.50 million by the year 2030 while registering a CAGR of 2.80%.

Segmentation

By Application Infrastructure Sector Residential Sector

Key Players

  • Bobcat
  • Caterpillar
  • CNH Industrial
  • John Deere
  • Gehl
  • JCB
  • Volvo

Drivers

  • skid steer loaders make them efficient to perform labor-intensive tasks such as digging collecting lifting & cleaning up.
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 Skid Steer Loader Market Overview



Skid steer loaders are the primary type of earthmoving equipment that is generally used for construction activities and material handling like loading, unloading, and lifting heavy loads. The manufacturers of the skid steer loaders are generally compact as they are used in restrained and congested construction areas and are operated with engines for higher efficiency. The tools fitted on the front side are varied based on the requirement of the desired operations which makes it highly versatile. The increasing number of construction operations across the globe in the residential and commercial spaces is propelling the skid steer loader market demand in recent years. 


On the other hand, the increasing purchasing power of the developing countries and increasing population with the inclination towards sophisticated lifestyle and demand for sophisticated amenities are leading to the numerous development and construction activities which increases the overall growth of the skid steer loader market growth.


COVID 19 Analysis:


The COVID 19 has significantly impacted the growth of several industry verticals and reduced production activities. The demand for various commodities and electronics was declining throughout the pandemic and has reduced the overall industrial operations. Similarly, the construction activities were either halted or reduced during the pandemic as the governments have imposed stringent laws on movement. Such factors have reduced the skid steer loader market value significantly. Moreover, the key manufacturers of skid steer loaders, such as the USA have reduced about 4.9% in the year 2020 that directly affecting the skid steer loader industry.


On the other hand, the demand for the construction of new hospitals and health care centers was increasing in the countries that are severely affected by COVID -19. Such factors were supporting the overall growth of the skid steer loader industry.


Market dynamics:


Market drivers:


The potential advantages of the skid steer loaders over other construction equipment include the capability of performing varied tasks and efficient operation in varied terrain and landscape due to their wheeled model which manages to efficiently operate in the uneven landscape; the incorporation of the Over-the-tire tracks which are easier to maintain and replace unlike other equipment is considered as the major drivers of skid steer loader market growth.


The compact size and the basic functionality of the skid steer loaders make them efficient to perform labor-intensive tasks such as digging, collecting, lifting, and cleaning up. Moreover, the capabilities of changing the tools according to the desired activities, the versatility of the skid steer loaders are higher than others. Such factors are considered as the major market drivers of skid steer loaders' market growth.


Market opportunities: 


The increasing e-commerce websites and their support for the growth of the skid steer loaders industry to reach several emerging market players and warehouses are considered as the major growth-stimulating factor. Moreover, the incorporation of technologies in the industry with the highly advanced loaders with the hydraulic brakes, grapples, and sweepers are presenting lucrative opportunities for the overall growth of the skid steer loaders industry during the forecast period.


The increasing environmental concerns for operating the loaders with the non-renewable energy are reduced and the advent of battery-operated skid steer loaders in the industry with the GPS incorporation, automated and self-driven loaders are some of the key factors that present lucrative opportunities for the overall growth of skid steer loaders industry.


Market restraints:


The higher costs incurred for the maintenance and capital investment are some of the major restraints of skid steer loader market growth. The demand for skid steer loaders is higher in the medium and large-scale industries. The prevalent small-scale industries don’t perform their operations with the skid steer loaders. Such factors are also hindering the overall growth of the skid steer loaders industry.


The lifespan of the tools and the maintenance of the heavy equipment attached with the skid steer loaders are considered as the major restraint of skid steer loader market growth.


Market challenges:


The developing regions and the agricultural operation at the emerging stage find it extremely difficult to purchase the skid steer loaders for their operations, although the demand is higher. Moreover, the fluctuation of the fuel to operate the equipment is also considered as the major challenge for the overall growth of the skid steer loader market growth.


The complex mechanism of the skid steer loaders and the varied working principles are some of the challenges faced by the operators. Moreover, the stringent norms imposed by the government and EPA are also considered as a major challenge for the overall growth of the skid steer loader industry.


Cumulative growth analysis:


The global skid steer loader market value was at USD 2.3 Billion in 2020 which is expected to grow to USD 2,374.50 million by the year 2030 while registering a CAGR of 2.80%. The growth estimate is due to the advent of highly technically advanced skid steer loaders while offering supreme comfort for the operators. They also integrate essential tools such as hydraulic hammers, forks, buckets, stump grinder, auger, trencher, landscape rake, and so on. Such essential features and pieces of equipment are presenting a lucrative opportunity for the growth of the skid steer loader industry during the forecast period. Moreover, the manufacturers of the skid steer loaders are focusing on offering favorable features such as fuel efficiency, compact size, higher-load capacity, reduced carbon emission, and so on. Such factors have propelled the major end-user industries like the agriculture sector, recycling, urban infrastructure, renewal projects, and other construction-related activities to utilize the skid steer loaders intensively.


Several countries are developing due to the oil and gas industry which is reliant on exploration activities, which demands large earth-moving equipment which includes skid steer loaders as well. Moreover, the developing countries are largely focused on developing the cities into smart cities, which is propelling the overall growth of the skid steer loader industry in recent years. 


Value chain analysis


The skid steer loaders market size is expected to grow at a faster pace with a healthy CAGR of 2.60%, which is due to the increasing number of landscape activities and industrial activities across the globe. The advent of compact size and easier operability of the skid steer loaders are further propelling the overall growth of the skid steer loader industry in recent years. The compact skid steer loaders are facilitated with a higher power that is capable of performing heavy construction activities. For instance, one of the efficient skid steer loaders in the industry, which is named as Bobcat S70 which comes in a width of only 901 mm is capable of handling a weight of about 343kg and is equipped with 23.5 horsepower engines. Such efficient machines in the industry cater to the ongoing demand in construction activities.


On the other hand, the other key feature expected to be present in the skid steer loaders is the comfort that it offers for the operating personnel. The manufacturers are designing the skid steer loaders in a way that is convenient for the operating personnel by providing higher visibility, increased headroom, and so on. For instance, one of the leading market players, CNH industrial N. V has introduced AB Volvo's C series which provides 27% cabin space and enhanced operability for the drivers. Such innovations and increasing research and investments are propelling the overall growth of the skid steer loader industry in recent times.


Segment overview:


Based on Type:



  • Wheeled Skid-steer Loader

  • Tracked Skid-steer Loader 


Based on Application:



  • Construction

  • Logistics

  • Agriculture 

  • Forestry

  • Others 


Based on Operating Capacity:



  • Up To 1,250 Lbs

  • 1,251- 2,000 Lbs

  • 2,001-3,000 Lbs

  • 3,001-4,000 Lbs

  • More Than 4,000 Lbs 


Based on Power Train:



  • Electric

  • Conventional 


Based on End User industries:



  • Construction

  • Mining

  • Logistics

  • Landscaping and Ground Maintenance

  • Agriculture

  • Others 


Based on Types:



  • Wheeled

  • Trackes 


Regional analysis:


The Asia-pacific region is dominating in the skid steer loader market share and it is expected to grow with a CAGR of 4%. China is considered to have the highest market share 


which accounts for over 20% of the construction activities and is spending nearly USD 13 trillion in the upcoming years. Rapid growth in the construction industry and increasing urban population with the aid of advanced technology are presenting lucrative opportunities for the skid steer loader market growth across the Asia-pacific region. On the other hand, due to the lower manual costs and the increasing availability of labor, manual labor is preferred in major parts of the Asia-pacific region. This factor hinders the overall growth of the skid steer loader industry.


Similarly, North America is accounting for the highest market share accounting for over 46% and the U.S was holding the market value of nearly USD 591.5 million in the year 2020.


Competitive landscape:



  • Bobcat

  • Caterpillar

  • CNH Industrial

  • John Deere

  • Gehl

  • JCB

  • Volvo

  • Mustang

  • Ditch Witch

  • Wacker Neuson

  • ASV

  • Tai a Luyue

  • Sunward Equipment Group

  • WE CAN

  • LiuGong 


Recent developments:


One of the leading market players, CASE Construction Equipment India has developed SR 130 which is considered as the robust machine that offers reliable and economic output, that integrates radial-lift that has the horsepower of 48.8 hp and the operating load of the skid steer loader is about 590kg. Other features of the SR130 include a wider glaze surface for safer operations and the best visibility.


In the year 2020, one of the leading manufacturers, CASE construction equipment has developed the model named DL550B which is a compact Dozer loader that offers optimal dozing performance and comes with steel or rubber track configurations that provides the contractors with supreme flexibility according to the type of job to be done. The operating power is about 114 hp and is compatible with a wider range of heavy-duty attachments.


Report overview:


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


Segmentation Table:


Based on Type:



  • Wheeled Skid-steer Loader

  • Tracked Skid-steer Loader 


Based on Application:



  • Construction

  • Logistics

  • Agriculture 

  • Forestry

  • Others 


Based on Operating Capacity:



  • Up To 1,250 Lbs

  • 1,251- 2,000 Lbs

  • 2,001-3,000 Lbs

  • 3,001-4,000 Lbs

  • More Than 4,000 Lbs 


Based on Power Train:



  • Electric

  • Conventional 


Based on End User industries:



  • Construction

  • Mining

  • Logistics

  • Landscaping and Ground Maintenance

  • Agriculture

  • Others 


Based on Types:



  • Wheeled

  • Tracked 




Report Scope:
Report Attribute/Metric Details
  Market Size   USD 2,374.50 million
  CAGR   2.80% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Bobcat Company(U.S.), Case CE (Netherlands), Caterpillar Inc. (U.S.), Komatsu Ltd. (Japan), Terex Corporation (U.S.), LiuGong Machinery Co. Ltd. (China), Lonking Holdings Limited (China), J C Bamford Excavators Ltd. (U.K.), Liebherr Group (Switzerland) and Hitachi Ltd.(Japan)
  Key Market Opportunities   Development of smart cities
  Key Market Drivers

  • Adoption of innovative technology in the construction
  • Increasing number of infrastructure projects which includes construction of highways, railways, roads


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    Frequently Asked Questions (FAQ) :

    Skid steer loaders are used in the construction industry for carrying out numerous construction-related tasks.

    Major applications of skid steer loaders include infrastructure construction and residential construction.

    The growing construction industry is the major driver for the skid steer loader market.

    North America is the major regional market for skid steer loaders.

    Leading players in the global skid steer loaders market include Hitachi, Case CE, and Bobcat, among others.

    The market value of the skid steer loader industry was at USD 2.3 billion in the year 2020 and it is expected to surpass the market value of over USD 2,374.50 million by the year 2030 while registering a CAGR of 2.80% during the forecast period.