Market Executive Summary

REPORT HIGHLIGHT

The Skid Steer Loader market is estimated to represent a global market of USD 2.38 billion by 2017 with growth rate of 3.0%.

Market Dynamics

The global steer loader market is majorly driven by the advancement in technologies. Technological development has led to enhancement in display panel size, featuring information in multiple languages along with the keyless start for increased security. Manufacturers are also providing air-conditioned and sound proof cabins to improve the efficiency and comfort of the operator. Furthermore, key players are focusing on adding LCD displays instead of manual operations, hand controlled joysticks rather than foot controlled function. In addition, rising importance and requirement of landscaping and lawn management applications have forced manufacturers to develop and launch various attachments including heavy-duty mowers, mulchers, brush cutters, and forestry units and thus, in turn, would promote the scope of skid steer loaders.

Product Takeaway

In 2017, wheeled skid steer loader dominated the market, accounted for significant revenue share. This product is expected to maintain its dominance over the study period. High product visibility is the key factor driving the growth of this product form in the near future. Moreover, it is suitable for use in hard and rough surface including concrete and lawns. In addition, wheeled skid steer loader are usually preferred for speedy work.

Application Takeaway

Application wise, construction segment held highest revenue share. The compact design, advancement in attachment and improved load carrying capacity is anticipated to increase the adoption of skid steer loader in this sector. These product forms are used for cleaning dirt, loading & unloading of construction materials, and maintaining & grading of land. It was estimated that every day, around 200,000 people migrate to urban areas in developing countries including, China and Bangladesh. This migration has led to increase in spending towards the development of roads, and rail infrastructure. For instance, China?s construction sector posted USD 800 billion in 2017 as compared to USD 700 billion in 2017.

Whereas, landscape & ground maintenance application segment is expected to with promising growth rate. People in developed countries have increased spending toward the maintenance of lawns and garden, as clean & well-kept property gets more value compared to unclean property. Furthermore, well maintained lawn & garden can be used for their enjoyment and refreshment. Lawn & garden maintenance industry has presence of many Mom-and-Pop companies. These companies are mostly run by people who have burnt-out from their corporate job, as well as people who are more than 35 years of age. Therefore, these people are likely to use skid steer loader as a convenient medium for pursuing the maintenance of their lawns as well as gardens.

Regional Takeaway

Regionally, Asia Pacific dominated the global skid steer loader market in 2017 and is projected to growth with decent growth rate. Rising spending towards the infrastructure development including, stadium, sport complex, rail, road, and building in emerging markets including India and China is likely to fuel the product demand. Moreover, the positive outlook towards dairy farming sector especially in India on account of implementation of favourable government regulations for enhancing cattle yield is expected to open new avenue for these product forms.

Key Vendor Takeaway

Key players namely Sunward Equipment Group, LiuGong Machinery Co., Ltd., Wacker Neuson SE, MECALAC, CNH Industrial, Volvo, Manitou Group, Doosan, JCB, Deere & Company, Hyundai, Caterpillar Inc., KUBOTA Corporation, Komatsu, Hitachi Construction Machinery Co., Ltd., XCMG Group, and Takeuchi are studied in detail.

The manufacturers offer several variants in terms of load carrying capacity, size and controlling system. Owners of skid steer loaders have started realizing that comfort level increases productivity. To that extent, manufacturers of skid steer loader are majorly focusing on operator?s comfort.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year ? 2017 ? 2021
Base Year ? 2021
Estimated Year ? 2022
Projected Year ? 2028
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

Wheeled
Tracked
MARKET, BY APPLICATION

Ground Maintenance
Construction
Agricultural
MARKET, BY REGION

North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America