The compact wheel loaders market is likely to reach a valuation of US$ 3,866.7 million in 2023. According to FMI estimation, the market is anticipated to expand at a 5.04% CAGR from 2023 to 2033 and is predicted to value at US$ 6.3 Billion by 2033.
Germany has a 33% market share and is expected to account for a large portion of Europe’s small wheel loader market, with a value share of 36.2%.
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Electrification is making significant advances in the automobile business as gasoline prices rise and worries about carbon emissions grow. Leading Chinese enterprises are now launching electric small wheel loaders in the nation. For example:
Volvo Construction Equipment (Volvo CE), a Swedish manufacturer of construction equipment, has announced the release of a new line of electric compact wheel loaders L20 to L28 for 2020.
Compared to their traditional counterparts, the new electric range emits zero emissions, has a lower energy cost, is more efficient, and produces less noise pollution.
Key Takeaways from the Compact Wheel Loader Market Study
- The compact wheel loaders market is anticipated to raise the demand, expanding at a CAGR of 3.3% during the forecast period of 2022 to 2029.
- Dominant sales in the global compact wheel loaders market expanded at a CAGR of 2.3% between 2014 and 2021.
- China is anticipated to emerge as a highly dominant market, with sales in contribution of 13.9%
- FMI says that Germany holds a market share of 33% and is expected to account for a significant share.
- Dominant growth can be seen in the United States with a value share of 42.2%.
- Compact track loader segment is anticipated to account for a significant share of 54.9%.
- Global compact wheel loader market is segmented into construction, agriculture and forestry, industrial, and utilities with a market share of 67.9%.
“Burgeon residential construction and infrastructural development activities are the important drivers of the global compact wheel loader market”, comments a Future Market Insights analyst.
Competitive Scenario:
Leading manufacturers in the global compact wheel loader market are aiming at launches of advanced automotive types of machinery to enhance their product portfolio and gain a competitive edge. Besides this, some of the companies are focusing on entering into strategic collaboration, merger, and acquisition with other players to expand their market share.
Leading players operating in the global Compact Wheel Loader Market are-
- Komatsu Ltd., Caterpillar Inc.
- Wacker Neuson Group
- Deere & Company
- KUBOTA Corporation
- CNH Industrial N.V.
- Xuzhou Construction Machinery Group Co. Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Volvo Construction Equipment
- Yanmar Holding Co. Ltd.
- Doosan Corporation
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Compact Wheel Loader Market Segmentation
By Product:
- Compact Track Loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
By Application:
- Construction
- Agriculture & Forestry
- Industrial
- Utilities
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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