IMARC Group has recently released a new research study titled “Skid Steer Loader Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

The global skid steer loader market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 2.7% during 2023-2028.

A skid steer loader, or wheel loader, is a compact, multipurpose equipment which is used to dig, collect, lift and move various granular materials, including dirt and jackhammer cement. It comprises a sophisticated wheel system and hydraulic hammers, forks, buckets, stump grinders, augers, trenchers, and landscape rakes as standard extensions. These distinct arms allow users to interchange and employ them based on different needs and requirement.

Apart from this, skid steer loader is maneuverable, lightweight, and offers optimal control and added safety features; thus, it is utilized for road sweeping, slab preparation, and landscaping purposes. Currently, it is mainly available in various capacities and sizes with four wheels or two tracks.

What are the growth prospects and trends in the industry?

The rapid urbanization, ongoing construction activities, and the extensive investments being made by governments in various infrastructural projects to develop smart cities are primarily driving the global market. Moreover, the increasing product demand from the mining and agriculture industry to perform several labor-intensive tasks, such as digging or lifting, is positively stimulating the market growth.

The advent of highly advanced autonomous and self-driven loaders featuring wireless connectivity and global positioning system (GPS)-operated control solutions to optimize workflow, is creating a positive outlook for market expansion.

The widespread adoption of skid steer loaders in the e-commerce industry for performing warehousing and logistics operations and strategic collaborations amongst key players to engineer product variants with enhanced efficacy are contributing to the market growth.

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Competitive Landscape With Key Players:

The competitive landscape of the skid steer loader market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• The Volvo Group
• Yanmar Power Technology Co. Ltd.
• Doosan Infracore Co., Ltd.
• Caterpillar Inc.
• CNH Industrial N.V.
• Deere & Company
• J C Bamford Excavators Ltd
• Komatsu Ltd.
• Kubota Corporation
• Wacker Neuson SE

Key Market Segmentation:

The report has segmented the global skid steer loader market based on operating capacity, power train, end use and region.

Breakup by Operating Capacity:

• Up To 1,250 Lbs
• 1,251- 2,000 Lbs
• 2,001-3,000 Lbs
• 3,001-4,000 Lbs
• More Than 4,000 Lbs

Breakup by Power Train:

• Electric
• Conventional

Breakup by End Use:

• Construction
• Mining
• Logistics
• Landscaping and Ground Maintenance
• Agriculture
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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