Skid Steer Loaders Global Market Report 2024

The skid steer loaders market has grown steadily in recent years. It will grow from $2.37 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth witnessed in the historical period can be attributed to various factors. These include heightened awareness of sleep health, increased consumer interest in personal health monitoring, the influence of stress and lifestyle factors on sleep patterns, the implementation of corporate wellness programs, and continuous research exploring the relationship between sleep and overall health. The convergence of these factors played a pivotal role in driving the expansion of the sleep health industry during that period.

The skid steer loaders market is expected to see steady growth in the next few years. It will grow to $2.84 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The anticipated growth in the forecast period for the sleep health industry can be attributed to various factors, including regulatory support and the establishment of standards, the increasing popularity of home-based sleep testing, advancements in sleep improvement interventions, the adoption of wearable fitness trackers, and growing consumer demand for holistic sleep solutions. Major trends expected to shape the industry in the forecast period include the integration of wearable sleep trackers with smart home systems, the development of advanced sleep monitoring algorithms, the rise of remote sleep monitoring and telehealth services, and the application of artificial intelligence (AI) and machine learning in sleep analysis and interventions. These trends are poised to drive innovation and offer comprehensive solutions to address sleep health needs.

The growth of the skid steer loader market is expected to be significantly boosted by the expanding construction industry. The construction sector, encompassing commercial manufacturing and trade related to infrastructure development, is a key driver for skid steer loaders. These loaders are particularly advantageous for tasks such as interior demolition, site development, landscaping projects, and constructing smaller structures due to their ability to navigate small spaces where larger construction equipment may face challenges. For example, in February 2022, the Office for National Statistics reported a record 12.7% annual growth in the construction sector in the UK in 2021, with a notable increase in monthly construction output. This robust growth in the construction industry is a major factor propelling the skid steer loader market.

The proliferation of smart cities is expected to contribute significantly to the growth of the skid steer loader market. Smart cities leverage technology to enhance the quality of life for residents, utilizing sensors, data analytics, and other technologies for infrastructure monitoring and management. Skid steer loaders play a pivotal role in the development and maintenance of smart cities, handling tasks such as landscaping, planting trees, digging holes, moving soil and mulch, and maintaining parks and gardens. The IMD Smart City Index Report in April 2023 indicated a 16.3% increase in the number of smart cities, rising from 118 cities in 2021 to 141 in 2023. This increasing trend in smart city initiatives worldwide is expected to drive the demand for skid steer loaders in various urban development and maintenance applications.

Product innovation stands out as a prominent trend in the skid steer loader market, with major companies actively focusing on developing new and advanced products. One notable example is the launch of the Bobcat S7X by Bobcat Company in March 2023. Representing the world's first all-electric skid-steer loader, the S7X features a 60.5 kWh lithium-ion battery that powers electric drive motors and ball screw actuators for lift and tilt operations. This electric loader delivers impressive performance with immediate torque, up to three times that of conventional loaders. In addition to its powerful performance, the S7X offers users a comfortable and smooth experience due to its low vibration and nearly silent operation.

Technological innovation is another area of focus for major companies in the skid steer loader market, with a particular emphasis on features such as smart creep software. Caterpillar Inc., in January 2022, introduced the Smart Creep feature for its D3 Series Skid Steer Loaders. This feature is designed to enhance productivity, reduce operator fatigue, and increase fuel efficiency. Smart creep automatically adjusts the drive command to optimize the speed of attachments such as cold planers or wheel saws, ensuring maximum productivity regardless of the load on the attachment.

In May 2022, AriensCo, a manufacturer of outdoor power equipment, made a strategic move by acquiring Thomas Equipment, a manufacturer and distributor of skid steer and mini skid steer loaders. This acquisition enables AriensCo to expand its Gravely brand into the construction and rental markets, introducing a new four-season product line. Thomas Equipment's expertise in skid steer loaders adds valuable capabilities to the Gravely product line, positioning AriensCo for growth in the construction and equipment rental sectors.

Major companies operating in the skid steer loaders market report are Bobcat Company, CNH Industrial N.V., Komatsu Europe International N.V., Wacker Neuson SE, Caterpillar Inc., Deere & Company, AB Volvo, Kubota Canada Ltd., Liugong Machinery Co. Ltd., J C Bamford Excavators Ltd., Hitachi Construction Machinery Co. Ltd., Takeuchi Manufacturing Ltd., Lonking Holdings Limited, Liebherr-International Deutschland GmbH, Manitou Group, Gehl, Hysoon CO. LTD., The Charles Machine Works Inc., ASV Multichemie Private Limited, Tai'an Luyue Steel Co. Ltd., SUNWARD Equipment Co. Ltd., Wecan, Xuzhou Construction Machinery Group Co. Ltd., Xiamen XGMA Machinery Co. Ltd., Doosan Corporation, Hyundai Heavy Industries Co., Yanmar Co. Ltd., Belle Holdings Limited, Kato Works Co., New Holland Fiat Pvt. Ltd.

North America was the largest region in the skid steer loader market in 2023. The regions covered in the skid steer loaders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the skid steer loaders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of propulsions for skid steer loaders are electric and conventional. An electric skid steer loader is entirely battery-powered and finds applications in site development and landscaping. Skid steer loaders come in two lift types radial and vertical. They are categorized based on engine power, with options up to 65 hp, 66 to 80 hp, and above 80 hp. The loaders also vary in operating capacity, ranging from up to 1,250 lbs., 1,251-2,000 lbs., 2,001-3,000 lbs., 3,001-4,000 lbs., to more than 4,000 lbs. Skid steer loaders are versatile machines applicable in various industries, including construction, agriculture and forestry, mining, industrial settings, ground maintenance, and other diverse applications.

The skid steer loaders market research report provides skid steer loaders market statistics, including skid steer loaders industry global market size, regional shares, competitors with a skid steer loaders market share, detailed skid steer loaders market segments, market trends and opportunities, and any further data you may need to thrive in the skid steer loaders industry. This skid steer loaders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The skid steer loader market consists of sales of wheeled skid steers, tracked skid steers, and other related products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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