To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information
I AgreeAnalysis of Compact Track Loader market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global compact track loader market is estimated at USD 3,296.7 Million in 2022 and is forecast to surpass USD 4,809.8 Million by 2032, growing at a CAGR of 3.8% from 2022 to 2032.
Global compact track loaders market is stipulated to be roughly 3% of the global construction equipment market in 2022.
Report Attributes |
Details |
Base Year Value (2021A) |
USD 3,191.4 Million |
Estimated Year Value (2022E) |
USD 3,296.7 Million |
Projected Year Value (2032F) |
USD 4,809.8 Million |
Global Growth Rate (2022-2032) |
CAGR 3.8% |
North America Market Share in 2021 |
~75% |
North America Growth Rate (2022-2032) |
CAGR ~4.4% |
Collective Value Share (U.S, China, India) 2022: Top 3 Countries |
~45% |
Top 3 Companies Market Share in 2021 |
~17% |
Key Companies Profiled |
|
Don't Need a Global Report?
Save 40% on Country & Region specific reports
The compact track loaders contains the high-flotation rubber tracks, like that of skid steer loaders, allowing the machines to work in poor conditions and sensitive surfaces as well. The manufacturers are concentrating on escalating the number of attachments in a bid to upgrade the product usefulness in the compact track loader market. A number of manufacturers in the market are offering more attachments like snow pushers, pallet forks, snow blades, rotary cutters etc. resulting in better command over work.
Fact.MR projects the compact track loader market is expected to witness exhibiting growth at 3.8% CAGR during 2022 and 2032 in comparison to a CAGR of 2.4% with which it grew from 2017 and 2021.
Various players in the construction equipment market are going for innovations to make it more convenient for the operator. The recent developments that have been added to compact track loaders are expected to provide for higher accuracy by enhancing the functionality. For instance, provision of real time guidance for assisting operator is major technological enhancement in compact track loaders meeting job parameters with high precision, accuracy and with convenience and safety is the main function of the real time guidance system. This is estimated to support market growth by 1/5th of current levels during the forecast years of 2022-2032.
In addition to this, urbanization is expanding globally at a positive rate. The rising urbanization in the emerging economies like India, China, Argentina, Mexico, and Brazil is contributing to the growth of the construction industry in both residential and commercial domains. The escalating demand for shops, offices, houses, and other residential construction along with the rising population is expected to drive the demand for compact track loaders globally.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
The infrastructure sector and the construction sectors have undergone tremendous growth. The emerging economies in the Asia Pacific region have witnessed uptrend in infrastructure activities such as railway construction, road construction, bridges etc. This has led to increased adoption of construction equipment. The frequency of these activities in the region is rising on a large scale, which is supporting the growth of the compact track loaders market.
Energy and power has been a vital industry for many years. The infrastructure development in this important sector is essential to ensure effective operations. The energy and power sector has been witnessing growing number of projects across the globe and is expected to further expand in the forthcoming years. Compact track loaders are used in lifting and material handling in the energy and power sector. Therefore, the demand of compact track loaders remains majorly influenced by the energy sector infrastructure projects. The rise in the energy sector infrastructure is expected to boost the market growth of compact track loaders. Thus, above listed factors are estimated to support market demand by 1.8X over the period of 2022-2032.
Design of compact track loader has evolved continuously with consumer requirements. However, improved design requires investments, leading to greater expenditure, and thus, more making the equipment. Therefore, key players in the market face challenges to make cost-effective products while improving productivity and efficiency. At the same time, technologically advanced compact track loaders with wider ranges of electronic features require professional operators who are skilled and trained as handling them inappropriately may lead to mishaps. Operational and safety programs are mandatory for operators. Lack of skilled operators to operate such equipment is likely to hamper the adoption, particularly in developing countries.
The construction equipment market is likely to face stagnation because of stringent emission norms, thus restraining the demand for the compact track loaders market. Government agencies such as EPA (Environmental Protection Agency) levy heavy fines on manufacturers who do not meet the standard norms, primarily due to the reason that the construction equipment uses more diesel engines than other sectors. However, variation of norms from territory to territory and from region to region is likely to impact the market. For instance, a new machinery may have to comply with stringent emission regulations in North America and Europe as compared to other parts of the world
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
North America compact track loader market accounts for the largest market share of 74.8%. The region is projected to register a CAGR of 4.4% during the forecast years. This is basically attributed to the key players in the compact track loaders market investing heavily in research and developmental activities in order to employ new features in the equipment with a view to enhance productivity and convenience. The development of new technologies is expected to fuel the adoption of compact track loaders in different applications in coming years.
The Asia Pacific region is estimated to hold 6.3% of the overall compact track loader market share and is projected to grow at a CAGR of 2.8% over the forecast years of 2022-2032. The growth in the region is attributed to the growth in the rental activities in heavy duty equipment, which is fueling growth in the compact track loader market. With the rising construction projects, multiple companies in the construction sector are preferring short project time duration. Thus, leasing or renting of equipment offers a cost-effective choice to use for short period of time rather than investing in older machines or buying new ones. This, is likely to support compact track loader market growth in coming years.
Under the engine capacity, the 16 L-22 L segment dominates the market by holding 37.8% of the overall compact track loader market share and is projected to register CAGR of 4.5% over the assessment period of 2022-2032. This is attributed to the consumers preferring more of it because of enhanced operational efficiency and productivity.
Under the fuel type segment, the compact track loader market is segmented into gasoline, diesel, and others. Amongst them, the diesel segment accounts for the largest market share of 72.3% and is projected to grow at a CAGR of 4.6% over the assessment period. This is basically attributed to the engines in the compact track loader running smoothly on high-quality diesel fuel.
The global compact track loader market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the manufacturing of compact track loader market.
Fact.MR has provided detailed information about price points of key manufacturers in compact track loader market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance:
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunities
Buy NowGet A Special pricing for start-ups and universities
Enquiry Before Buying- Humble, Yet Honored -
- Related Reports -
The global value of compact track loader market is estimated to be worth over USD 3,296.7 Million in 2022.
The demand is anticipated to surpass USD 4,809.8 Million by 2032 end.
During 2017-2021, global compact track loader market grew at 2.4% CAGR.
Some of the prominent players in compact track loader market are ASV Holdings Inc., Bobcat Company Inc., CNH Industrial Inc., Caterpillar Inc., JCB Inc., Kubota Corporation, etc.
North America tops the global compact track loader market accounting for 74.8% of global market share in 2022.
Diesel under the fuel type contributes 72.3% of market share in global sales of compact track loader.