By the end of 2021, the Europe Multi Attachment Loaders Market is expected to grow 2.4% year on year (YoY) to US$ 833.3 Million. The European market for multi-attachment loaders is expected to grow at a CAGR of 2.8% between 2021 and 2031.
Multi-attachment loaders accounted for nearly 36% of compact loaders in 2020, and this share is expected to remain stable throughout the projection period.
According to FMI, Germany will continue to be a major market for multi-attachment loaders during the forecast period. Germany’s market is expected to grow at a CAGR of 2.7% between 2021 and 2031.
According to Future Market Insights (FMI), the ongoing expansion of Europe’s construction and infrastructure sectors is a major factor driving demand for multi-attachment loaders for construction applications.
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Coupled with this, the rising demand for compact machinery/ vehicles for material handling in agriculture and industrial sectors has boosted the demand for multi-attachment loaders across Europe.
Due to the COVID-19 outbreak, the demand for multi-attachment loaders declined slightly in 2020. The effect of COVID-19 on demand from several end-use sectors like mining, construction and general manufacturing was less, which affected the sales of multi-attachment loaders in various countries.
The demand for small-sized machinery to operate in compact spaces in certain construction sites will create opportunities for sales in multi attachment loaders market. Besides this, advancements in production technologies also will aid sales in the coming years.
Key Takeaways from Multi Attachment Loaders Market Study
- By rated horsepower, the 50 Hp segment is projected to account for the leading share in the Europe market.
- The demand in the building & construction sector is set to hold over 35% of the market share on a value basis by the end of the forecast period.
- Germany will remain a primary market within Europe, accounting for over 40% of the demand for multi-attachment loaders registered in 2021.
- Sales of multi-attachment loaders with a tipping load capacity of 1.5 to 2.5 ton is set to surge at a CAGR of approximately 2.6% over the coming decade.
“As market players focus on navigating through challenges posed by the unprecedented pandemic outbreak, their focus on technological improvements will rise. This also will help the market recover growth within Europe,” says a Future Market Insights analyst.
The multi-attachment loaders market in France is expected to rise at nearly 2.6% CAGR over the forecast period. As per the European Commission, around 55.0% of companies have consistently reported the lack of skills as the main barrier to recruitment in the French construction sector. This has affected a greater share of SMEs than large enterprises in the country.
Shortage of labour in France’s construction & agriculture sector might restrain the market to an extent. Nonetheless, as per FMI, the country is expected to create an absolute dollar opportunity of US$ 51.2 Million from 2021-2031.
Multi Attachment Loaders are a highly consolidated market with the top players accounting for nearly 65-70% of sales in Europe. The market participants are working on developing emission less & innovative products.
- In Dec 2021, Doosan Bobcat introduced a line of 12 new products which also included wheel loaders, excavators and compaction machines to maximize the work capabilities in narrow places for the Europe market
- In Oct 2021, the Volvo group with the help of the LEGO group developed a prototype of a self-learning concept wheel loader. It is a fully autonomous, battery–electric prototype by Volvo Construction Equipment.
- In June 2021, Yanmar launched a powerful and efficient next-gen wheel loader. The compact wheel loader V120 is highly fueled efficient and EU Stage V complaint. The next gen wheel loader is extremely versatile at the complex work sites with three different attachments.
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Key Market Segments Covered
By Rated Horsepower:
- Upto 25 hp
- 35 hp
- 40 hp
- 50 hp
By Tipping Load Capacity:
- 1.2 to 1.5 Ton
- 1.5 to 2.5 Ton
- 2.5 to 5 Ton
By End Use Sector:
- Agriculture
- Building & Construction
- Landscaping
- Mining
- Industrial
- Military
By Country:
- Germany
- Italy
- France
- U.K.
- Spain
- BENELUX
- Russia
- Hungary
- Rest of Europe
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