The compact wheel loaders marke size is estimated to reach a valuation of US$ 6 Bn by 2030. The global compact wheel loaders market is estimated to surpass US$ 5.27 Bn by the end of 2022. Growing preference towards electric construction equipment and introduction of advanced electric compact wheel loaders is expected to facilitate the growth in the market.
Compact wheel loaders are widely used to carry goods from one place to another in a variety of industries. They are mostly used in the construction industry as a bridging tool between skid steer and large wheel loaders. Additionally used in the industrial, utility, and agricultural sectors are compact wheel loaders. The demand for electric vehicles among consumers who want to produce zero carbon emissions is driving growth in the market for compact wheel loaders. Future Market Insights (FMI) just published a research report that states
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Key Takeaways of Compact Wheel Loaders Study
- Latin America, Oceania, and South Asia are estimated to grow at a significant pace, owing to ongoing construction activities and infrastructural investments in these regions.
- Several advantages such as better maneuverability, lifting abilities, and multiple attachments compatibility are broadening the adoption of compact track loaders.
- Construction activity is anticipated to remain the foremost application in the global market, and hold the dominating market share throughout the forecast period
- Key market players are focusing on launching new products driven by advanced technologies to gain a competitive advantage in the global compact wheel loaders market landscape.
- The ongoing global COVID-19 health crisis is estimated to negatively impact the overall construction equipment market, due to prolonged inactivity in the construction industry, interrupted fund flows for operations, and overall delays in construction project timelines.
- As a preventive measure against the COVID-19 crisis, a majority of manufacturers are prioritizing workforce safety and are shutting down most of their production plants for a limited time duration.
- In certain regions, the construction equipment industry is facing challenges of complying with strict standards. These standards require manufacturers to invest heavily in new technologies, thus shrinking their returns on investments (ROI).
“Realizing a gradual decline in worldwide demand, players are limiting the production of compact wheel loaders to avoid the overstocking of products. Market participants need to develop robust production strategies in order to reduce risks of opportunity loss to their companies.”
- Base Year – 2019
- Historical Period – 2015-2019
- Forecast Period – 2020-2030
- Market Value in 2019 – US$ 4.8 Bn
- Segments Covered – Product, Application, and Region
- Regions Covered – North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa
- Growth Drivers
- Investment upheaval in construction projects
- Rising shift towards electric compact wheel loaders
- Leading players are focusing on developing tech-advanced compact wheel loaders
COMPACT WHEEL LOADERS MARKET TAXONOMY
The global compact wheel loaders market is segmented in detail to cover every aspect of the market and present complete market intelligence to the readers.
Product
- Compact Track Loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
Application
- Construction
- Agriculture & Forestry
- Industrial
- Utilities
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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Compact Wheel Loaders Market: Competitive Landscape
The compact wheel loaders market is consolidated, owing to the presence of a limited number of manufacturers across the globe. Caterpillar, Inc., Komatsu Ltd., Deere & Company, Doosan Corporation, and Volvo Construction Equipment are the leading players in the compact wheel loaders market. Top 5 players account for over 40% share in the global market. Introduction of technologically-advanced products while adhering to stricter environmental regulations is among the key strategies being adopted by prominent manufacturers, worldwide.
Rising Preference towards Electric Compact Wheel Loaders to Attain Zero Carbon Emission
Governments across the globe are enacting stringent regulations in an effort to reduce carbon footprint. Electric compact wheel loaders curb carbon emissions by around 30% as compared to conventional construction equipment, given their advanced engine technology.
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