Skid Steer Loader Market accounted for US$ 2.62 billion in 2020 and is estimated to be US$ 3.35 billion by 2030 and is anticipated to register a CAGR of 3.0%. Skid steer loaders are utilised in a wide range of industries, including mining, agriculture, forestry, and ground maintenance. All of these areas, however, pale in comparison to their utilisation in construction. Due to the emergence of COVID-19, most countries enforced nationwide lockdowns to combat the deadly virus, bringing the construction industry to a halt, as well as causing supply chain disruptions and a human resource scarcity. Skid steer loader manufacture was also impacted considerably. The United States is a major producer of skid steer loaders, and according to UNIDO, the country's machinery industry will contract by 4.9 percent by 2020, hitting the skid loader market directly.
The report " Global Skid Steer Loader Market, By Lifting Capacity (Up to 1550 lb., 1550 lb. – 2000 lb., 2000 lb. – 3000 lb., 3000 – 4000 lb., and More than 4000 lb.), By Propulsion (Electric and Conventional), By End-User (Construction Industry, Agriculture, Mining, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- Yanmar Holdings announced the acquisition of ASV Holdings in September 2019. ASV Holdings is a well-known manufacturer of skid steer loaders and small tracked loaders. Yanmar Holdings was able to exploit ASV Holdings' strong dealer network and cement their position globally, particularly in North America, as a result of the acquisition.
Analyst View:
Skidsteers are expected to grow in popularity as a result of their small size and adaptability in operations. Skid loaders are compact and can navigate in confined locations, making them useful in building projects where larger vehicles are inaccessible or difficult to operate. Depending on the task at hand, these loaders can be equipped with various attachments such as forks, buckets, hydraulic hammers, augers, stump grinders, trenchers, and landscape rakes. Their capacity to do numerous jobs simply by changing attachments has aided their adoption across a variety of industries.
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Key Market Insights from the report:
Global Skid Steer Loader Market accounted for US$ 2.62 billion in 2020 and is estimated to be US$ 3.35 billion by 2030 and is anticipated to register a CAGR of 3.0%. The global skid steer loader market report segments the market on the basis of lifting capacity, propulsion, end-user, and region.
- Based on Lifting Capacity, Global Skid Steer Loader Market is segmented into Up to 1550 lb., 1550 lb. – 2000 lb., 2000 lb. – 3000 lb., 3000 – 4000 lb., and More than 4000 lb.
- Based on Propulsion, Global Skid Steer Loader Market is segmented into Electric and Conventional.
- Based on End-User, Global Skid Steer Loader Market is segmented into Construction Industry, Agriculture, Mining, and Others.
- By Region, the Global Skid Steer Loader Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Skid Steer Loader Market:
The key players operating in the skid steer loader market are Zhejiang Hero Time Machinery Co., Ltd., Takeuchi Construction Machinery, Sany Group Co. Ltd., Kato Works Co., Ltd., B E M L Ltd., Guangxi Liugong Machinery Co., Ltd., Wacker Neuson SE, Hyundai Heavy Industries Co., Ltd., Kubota Corporation and JCB, Inc..
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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