Skid Steer Loader Market Trends

Global Skid Steer Loader Market Overview

Skid Steer Loader Market Size was valued at USD 2400 Million in 2023. The Skid Steer Loader industry is projected to grow from USD 2478.8 Million in 2024 to USD 3362.0 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.88% during the forecast period (2024 - 2032). Increasing number of infrastructure projects which includes construction of highways, railways, roads.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Skid Steer Loader Market Trends

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  The Increasing number of infrastructure projects which includes construction of highways, railways, roads.

  
  

The different regions are continuously developing the infrastructure for municipal service delivery and economic development of different regions. A well-developed infrastructure is a key to developing the economy and alleviating poverty in the country. The investment into infrastructure leads to higher growth and productivity and facilitates trade & connectivity. With the growing population, it is important for every country to develop its infrastructure, which helps it create business opportunities, enhance business activities, empower gender participation, and narrow income disparities.

According to the American Society of Civil Engineers, the 2021 report card for America’s Infrastructure describes that the country’s infrastructure has made incremental progress and resulted in achieving a “C-” average, up from a “D+” in 2017, making it the highest grade since last 20 years. Further, the US Department of Transportation Secretary Pete Buttigieg, on July 2021, announced that the Biden-Harris Administration proposed to award USD 905.25 Billion to 24 projects in 18 states under the INFRA (Infrastructure for Rebuilding America) discretionary grant program.

Further, China’s Belt and Road Initiative (BRI) development strategy focuses on building cooperation and connectivity across six key economic corridors: China, Mongolia and Russia, Central and West Asia, Eurasian Countries, Pakistan, Indochina, and other countries of the Indian sub-continent. The initiative needs an investment of USD 26 trillion in infrastructure by 2030. This infrastructure project is expected to positively impact the involved countries. The BRI initiative is expected to require 60 percent of its global investment needs for road transportation and energy supply infrastructure. This growing number of infrastructure projects has formed a huge demand for the skid steer loader market.

Henceforth, the increasing number of infrastructure projects, including the construction of highways, railways, and roads, is anticipated to form a huge demand for the skid steer loader market during the forecast period.

However, to cater to the demand there have been significant advances in the packaging industry. For instance, the demand for Skid Steer Loader in the packaging end-user industry is likely to boost the growth of the market and drive the growth of the Skid Steer Loader market revenue.

Skid Steer Loader Market Segment Insights

Skid Steer Loader Application Insights

The Skid Steer Loader Market segmentation, based on application, includes residential sector, infrastructure sector. The infrastructure sector Skid Steer Loader segment held the majority share in 2021 contributing to around ~65.50% with respect to the Skid Steer Loader Market revenue. The skid steer loader has a standard attachment, called a bucket, which can be replaced by a number of alternatives that enable the loader to perform functions of different types of equipment. The skid loader can perform multiple tasks in the infrastructure sector, from excavating and grading to debris and demolition removal to overhead lifting and work. The skid steer loader performs the excavation work with the help of tiller, wheel saw, ripper, or trencher. This loader is also applicable at building and construction sites where the machine is outfitted with a pavement miller or cement mixer.

May 2020: Bobcat Company launched four 60 frame size vertical lift path loaders to its product lineups, such as the Bobcat R-Series T64 and T66 compact track loaders and S64 and S66 skid-steer loaders. These new loaders will be integrated with the T76 compact track loaders and S76 skid-steer loaders.

March 2021: Bobcat Company introduced an M3-Series compact loader line, adding to its extensive, growing line of compact equipment. This Product Launch line represents the newest addition to the Bobcat compact loader family, designed to provide exceptional performance and value to meet a wide range of customer needs.  “

Figure 2: Skid Steer Loader Market, by Application, 2021 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, in comparison to residential sector, infrastructure sector application is more useful for various end-use industries. The growing development of the infrastructure sector has formed a huge demand for the skid steer loader market.

Skid Steer Loader Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America comprises potential economies such as the US, Canada, and Mexico. The growing development of smart cities in North America is anticipated to form the demand for the skid steer loader market. According to the Institutional Development Cell (IDC) Government Insights, there has been progress in implementing smart cities projects across California, Nevada, Texas, Florida, New York, and others. These projects involve the development of various categories such as education, civic engagement, smart buildings, transportation, public health and social services, urban planning, administration, and sustainable infrastructure. These ongoing infrastructure and residential development projects in North America have surged the skid steer loader market demand. Further, key players such as Bobcat Company, Caterpillar Inc., Terex Corporation, and others have formed huge opportunities for the development of the market.

Further, the major countries studied are US., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: SKID STEER LOADER MARKET SHARE BY REGION 2021 (%)

The Asia-Pacific Skid Steer Loader Market is expected to grow at a CAGR of 23.10 % from 2021 to 2030. The Asia-Pacific region is expected to have the largest Skid Steer Loader market share. The rapid urbanization and the migrating rural population towards urban areas have increased the region's construction activities. The continuous development for economic expansion across India, Vietnam, Japan, and Thailand has increased the infrastructure activities in the region. The increasing infrastructure projects and use of technology in the construction industry have formed demand for the advanced skid steer loader market. Further, the presence of key players such as Komatsu Ltd, LiuGong Machinery Co. Ltd., Lonking Holdings Limited, and others has formed huge growth opportunities for the market in the Asia Pacific region. Moreover, China Skid Steer Loader market held the largest market share, and the India Skid Steer Loader market was the fastest-growing market in the Asia-Pacific region

For instance, India Skid Steer Loader market has increased growing government construction projects and the rapidly evolving construction business technology have propelled the skid steer loader market. The development of the Real Estate projects, which includes the enhancement of retails, hotels, residential offices, and leisure parks, has formed huge demand for the market. Further, the Urban Area development, which includes the advancement of urban transportation, healthcare, water supply, and schools, have developed a huge base for the growth of the skid steer loader market.

Europe Skid Steer Loader market accounts for the second-largest market share due to government authorities have introduced the development in the construction and transportation sector, thereby influencing the demand for the market. The construction sector contributes to a major share of the region's economic development. Government initiatives toward renovating the existing building infrastructures and investing in long-term projects have formed huge demand for the skid steer loader market. Further, the formation of the Smart Cities Marketplace by merging the two former commission projects: Smart Cities Information System (SCIS) and the Marketplace of the European Innovation Partnership on Smart Cities and Communities (EIP-SCC) is a major market-changing platform that aims at bringing industries, cities, SMEs, researchers, and investors together to explore the possibilities and shape the project ideas and launch the Smart City solution. This continuous development for the residential and infrastructural sectors has expanded the skid steer loader market demand. Further, the Germany Skid Steer Loader market held the largest market share, and the UK Skid Steer Loader market was the fastest-growing market in the European region

Skid Steer Loader Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Skid Steer Loader market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Skid Steer Loader industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global Skid Steer Loader industry to benefit clients and expand the Skid Steer Loader market sector is to manufacture locally to reduce operating costs. In recent years, Skid Steer Loader have provided medicine with some of the most significant benefits.

Bobcat Company is a member of the Doosan Group. Doosan is one of the leading providers of construction, grounds maintenance, and material handling equipment, power, and water solutions. In May 2020, Bobcat Company launched four 60 frame size vertical lift path loaders to its product lineups, such as the Bobcat R-Series T64 and T66 compact track loaders and S64 and S66 skid-steer loaders. These new loaders will be integrated with the T76 compact track loaders and S76 skid-steer loaders.

Also, In March 2021, Bobcat Company introduced an M3-Series compact loader line, adding to its extensive, growing line of compact equipment. This Product Launch line represents the newest addition to the Bobcat compact loader family, designed to provide exceptional performance and value to meet a wide range of customer needs.

List of the Key Companies in the Skid Steer Loader market includes

• Bobcat Company


• Case Construction Equipment


• Caterpillar


• J C Bamford Excavators Ltd.


• Terex Corporation


• Hitachi, Ltd.


• Komatsu Ltd.


• Liebherr Group


• Liugong Machinery Co., Ltd.


• Lonking Holdings Limited, among others

Skid Steer Loader Industry Developments

February 2020: Case Construction Equipment introduced its next generation of compact track loaders (CTLs) and skid steers with the introduction of the B Series, spanning radial and vertical lift patterns, as well as numerous horsepower and size classes to provide contractors with the equipment choices best suited to their operation.

February 2020: Caterpillar introduced 16 new Cat D3 Series Skid Steer Loader (SSL) and Compact Track Loader (CTL) models. These new machines advance the D and D2 Series’ reputation for quality, comfort, and performance and improve operator experience and track loader stability.

Skid Steer Loader Market Segmentation

Skid Steer Loader Application Outlook

• Residential Sector


• Infrastructure Sector

Skid Steer Loader Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • Denmark
  
  
  • UK
  
  
  • Italy
  
  
  • Rest of Europe
  
  
  • Asia-Pacific
  
  
  • China
  
  
  • India
  
  
  • Australia
  
  
  • Indonesia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Middle East & Africa

  
  
  
  
  • Saudi Arabia
  
  
  • South Africa
  
  
  • UAE Rest of Middle East & Africa
  
  
  
  


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  South America

  
  
  
  
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    Brazil

    
    
  
  
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    Argentina

    
    
  
  
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    Rest of South America