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Skid Steer Loaders Market Size, Share, 2019-2025 | Industry Report

Skid Steer Loaders Market Analysis Report By ROC, By ApplicationAnd Segment Forecasts From 2019 To 2025

Report ID: MN17616278  |  Published: August 2020  |  No of Pages: 150
Format: Electronic (PDF)  |  Industry: Automotive and Parts  |  Publisher: Grand View Research

Industry Insights

The global skid steer loaders market size was accounted for USD 2.15 billion in 2018. It is projected to witness 2.4% CAGR over the forecasted years, 2019 to 2025. The rising number of construction activities, need to carry out work in tight spaces and with lower operational costs are expected to drive the market demand.

The adoption of skid steers is gaining traction across the globe due to its versatility in operations and compactness in size. They can maneuver in confined spaces where operations with larger vehicles are not possible. Also, outfitting of attachments like buckets, forks, auger, hydraulic hammers, and trenchers with the skid steers to carry out specific tasks is projected to drive the market growth across the globe.

Asia Pacific skid steer loaders market

The skid loaders are widely being used across North America to carry out mining and construction activities. While their usage in the rest of the regions is confined to fewer applications. The sales and marketing head of Caterpillar India stated that higher price perception prevailing among customers across developing countries like India is hindering the market growth. Thus, several key players are focusing on awareness creation of their products. Such factors are projected to gradually propel market growth in the upcoming years.

Application Insights

The segment of construction & mining is projected to register significant growth with a 3.0% CAGR over the forecasted years. This can be attributed to the rising number of construction activities across the globe. Also, huge investments being done by governing bodies for infrastructure development across MEA and North America are anticipated to propel the growth of skid steer loader market.

The application segment of landscaping & ground maintenance is anticipated to hold substantial growth in the upcoming years. This can be attributed to the rising number of residential and commercial spaces having lawns and gardens coupled with the need for their frequent maintenance.

Rated Operating Capacity (ROC) Insights

The ROC segment of 1,251 lbs to 2,200 lbs accounted for the highest share in terms of volume across the global market in 2018. This can be attributed to their surging usage for carrying out activities like landscaping, maintenance of ground, and agricultural operations in farms.

Global skid steer loaders market

While the segment of more than 2,200 lbs is expected to witness significant growth with 3.5% CAGR during the forecasted years, 2019 to 2025. This can be associated with features like higher fuel efficiency and the requirement of low horsepower engines. Moreover, features like enhanced joystick control and air conditioning in the cabin being provided in high capacity skid steer loaders are anticipated to boost their market demand.

Regional Insights

In 2018, North America held the highest share of around 75.0% in terms of revenue across the global market. This can be attributed to the increasing need for carrying out landscaping activities coupled with the improving infrastructure and construction sector across countries like the U.S. and Canada. Further, the increasing presence of key players and OEMs across this region is projected to trigger market growth.

The Asia Pacific is projected to witness the fastest growth with 4.0% CAGR from 2019 to 2025. This can be attributed to the surging number of construction activities across developing countries like India and China. Moreover, the presence of major players like Kubota Corporation and Komatsu Ltd across this region is propelling the market growth.

COVID-19 Impact Insights

The skid steer loaders market growth has been negatively impacted on account of ongoing COVID-19 pandemic. Stagnancy in mining and construction activities owing to the imposition of lockdown and travel restrictions are expected to hinder the demand for skid steer loaders. Also, obstruction in the supply chain and fluctuating raw material prices are hampering the market growth.

But rapid technological advances being undertaken by the manufacturers to develop multi-purpose loaders are expected to trigger the market growth over the post-pandemic period. Moreover, the surging need for harvesting agricultural yield and maintenance of lawns is projected to boost their demand.

Skid Steer Loaders Market Share Insights

The global market includes key players such as Komatsu Ltd., Bobcat Company, CNH Agriculture N.V., AB Volvo, Caterpillar, JCB, Inc., and Kubota Corporation. They are continuously focusing on product development and are launching new service lines to gain competitive advantage over other players.

They are engaged in implementing several strategies like partnerships, acquisitions, and mergers to widen their geographical reach and product portfolio across the globe. For example, Yanmar Holdings gained acquisition over ASV holdings in 2019. This has facilitated Yanmar Holdings in gaining access over a good dealer network of ASV Holdings especially across North America.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD billion and CAGR from 2019 to 2025

Regional Scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; UK; Germany; Japan; China; Brazil; Mexico; France

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2015 to 2025 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global skid steer loaders market on the Rated Operating Capacity (ROC), application, and region:

• Rated Operating Capacity (ROC) Outlook(Volume, Units; Revenue, USD Million, 2015 - 2025)
    • Upto 1,250 lbs
    • 1,251 lbs to 2,200 lbs
    • More than 2,200 lbs

• Application Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
    • Construction & Mining
    • Landscaping & Ground Maintenance
    • Agriculture

• Regional Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East and Africa

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