Skid Steer Loaders Market Size is Estimated to Value $2.6 Billion By 2025: Grand View Research, Inc

Skid Steer Loaders Market Size is Estimated to Value $2.6 Billion By 2025: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global skid steer loaders market size was valued at USD 2.15 billion in 2018 and is expected to register a revenue-based CAGR of 2.4% from 2019 to 2025.

The global Skid Steer Loaders Market size is expected to reach USD 2.6 billion by 2025, exhibiting a revenue based CAGR of 2.4% over the forecast period, according to a study conducted by Grand View Research, Inc. Regulated demand from the construction sector coupled with introduction of several state-of-the-art skid steer loader variants with superior features such as compact size, and easy operability, are the major factors driving the demand. In addition, the rising adoption of skid loaders for landscaping activities is also expected to have a positive impact on the product demand.

Another major reason contributing to the demand for skid steer loaders is their ability to get into tight spaces. Although the machines are small in size, they have enough power to perform heavy construction activities. For instance, the Bobcat S70 has a width of only 901 mm but is equipped with a 23.5 horsepower engine and has a rated operating capacity of 343 kg.

The growing preference for comfort among operators is compelling manufacturers to focus on manufacturing loaders with enhanced cabin comfort. For instance, CNH Industrial N.V. offers skidsteers with a cabin that have increased headroom and improved visibility. Similarly, recently introduced AB Volvo’s C-Series skid steer loaders offer operators with 27% more cabin space as compared to their previous models. Thus, growing preference for improved comfort and operational efficiency is expected to drive growth of the skid steer loaders market over the forecast period.

Skid loaders have numerous advantages over other construction equipment that make it popular in the construction industry. The machines can perform different tasks and can operate on different types of terrains. The wheeled models can be used on uneven or rough terrains by installing Over-The-Tire (OTT) tracks that are easy to maintain and replace. The abovementioned benefits, coupled with lower operating costs, are anticipated to surge demand for skidsteers over the next six years.

Skid Steer Loaders Market

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Further key findings from the study suggest:

  • Skidsteers with Rated Operating Capacity (ROC) between 1,251 lbs to 2,200 lbs accounted for the highest market share in 2018 as these products offer optimal balance of power and initial cost
  • The more than 2,200 lbs segment is anticipated to expand at a significant CAGR over the forecast period, owing to the additional comfort and operational efficiency offered
  • The agricultural segment is gaining traction due to the flexibility offered by skid loaders, thereby eliminating the need for multiple machines across different operations
  • Construction and mining segment accounted for more than 50% of value share in 2018. Skidsteers were primarily introduced for construction activities and hence are widely used across the construction facilities
  • Middle East and Africa skid steer loaders market is primarily driven by rising infrastructure projects in the region

Skid Steer Loaders Market size

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Grand View Research has segmented the global skid steer loaders market based on Rated Operating Capacity (ROC), application, and region:

Skid Steer Loaders Rated Operating Capacity (ROC) Outlook (Volume, Units; Revenue, USD Million, 2015 – 2025)

  • Upto 1,250 lbs
  • 1,251 lbs to 2,200 lbs
  • More than 2,200 lbs

Skid Steer Loaders Application Outlook (Volume, Units; Revenue, USD Million, 2015 – 2025)

  • Construction & Mining
  • Landscaping & Ground Maintenance
  • Agriculture

Skid Steer Loaders Regional Outlook (Volume, Units; Revenue, USD Million, 2015 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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