Skid Steer Loader Market

Skid Steer Loader Market Outlook (2023 to 2033)

The global skid steer loader market stands at US$ 2.42 billion in 2023. Worldwide demand for skid steer loaders is projected to register 2.3% CAGR and reach a market valuation of US$ 3.04 billion by the end of 2033.

Increased demand for skid steer loaders is attributed to the rising number of infrastructure projects around the world. In addition, lower operating costs along with their feature to function in tight spaces have made skid steer loaders a preferred option at mining and construction sites. The versatility and compact size of skid steer loaders are projected to boost their demand over the coming decade.

• Sales of vertical skid steer loaders are predicted to increase at a CAGR of 2.7% and reach US$ 1.83 billion by the end of 2033.
• Demand for skid steer loaders in France is forecasted to register a CAGR of 1% and reach a market value of US$ 185.44 million by 2033-end.
• Revenue from skid steer loader sales in Germany is estimated to rise at a CAGR of 2.5% and reach an industry value of US$ 398.24 million by 2033-end.

Skid loaders can maneuver in compact spaces, which is expected to boost their demand in construction activities where larger vehicles are not able to reach. Moreover, skid loaders are easily outfitted with numerous attachments. Buckets, forks, augers, hydraulic hammers, trenchers, stump grinders, and landscape rakes are some popular attachments for these loaders. Based on the specific requirements, these attachments are used to complete specific tasks. Thus, the ability of skid steer loaders to complete different tasks with a simple change in the attachments is predicted to have a positive impact on market growth opportunities.

Technological advancements that are taking place with respect to operator comfort, telematics integration, and engines used are anticipated to widen the horizon for industry players. However, the high price of skid steer loaders compared to conventional backhoe loaders is predicted to limit their adoption to some extent.

Fact.MR, a market research and competitive intelligence provider, recently published a report on the skid steer loader market. This market research report offers a comprehensive analysis of different aspects that are related to the market, including sales analysis of skid steer loaders, regional overview, restraining factors, new developments, and others. Strategies that are incorporated by industry players to increase their profit share are also included in the report.

Report Attributes	Details
Skid Steer Loader Market Size (2023)	US$ 2.42 Billion
Forecasted Market Value (2033)	US$ 3.04 Billion
Global Market Growth Rate (2023 to 2033)	2.3% CAGR
Construction Segment Growth Rate (2023 to 2033)	2.6% CAGR
China Market Growth Rate (2023 to 2033)	3% CAGR
France Market Value (2033)	US$ 185.44 Million
United Kingdom Market Value (2033)	US$ 188.48 Million
Key Companies Profiled	Bobcat Company CNH Agriculture N.V. ASV Sales & Services Wacker Neuson SE Komatsu Ltd. Ace Towel Finning Cat Caterpillar Inc. JCB Gehl

Which are the Growth Drivers for the Skid Steer Loader Market?

“Growing Construction Industry Increasing Usage of Skid Steer Loaders”

Significant growth in the construction industry is predicted to boost demand for skid steer loaders around the world. Vertical lift skid steer loaders are widely used across different end-use industries. The mid-range type of skid steer loaders is experiencing increasing demand due to their operating capacity.

Rising government investments in different infrastructural projects in developing as well as developed countries are projected to drive growth in the construction industry, which is further driving the sales of skid steer loaders.

“Compact Size and Adaptability of Skid Steer Loaders a Huge Plus”

Demand for skid steer loaders is estimated to increase owing to their adaptability in operations and compact size. They can navigate in different confined locations while making them a suitable solution for construction tasks in case larger trucks are not able to reach respective sites. Skid steer loaders are furnished with numerous attachments, including buckets, forks, augers, hydraulic hammers, landscape rakes, trenchers, and stump grinders.

What are the Sore Points Denting Global Market Growth?

“High Cost of Skid Steer Loaders and Stringent Government Regulations”

Compared to other options, skid steer loaders are costly. That’s why various builders find it difficult to rent or purchase them on a larger scale. Even in the agricultural sector, it becomes impossible for poor farmers to buy these machines.

The mechanism of skid steer loaders is a bit complex in comparison to common tractors. Certain stringent emission regulations about the use of various construction equipment are also predicted to affect demand for industry products.

“Preference for Manual Labor in Some Regions Due to Lower Cost”

In various countries in the Asia Pacific region, the construction industry is growing at a noteworthy pace. However, manual labor is opted as an ideal choice for certain construction-related activities due to its low cost as well as easy availability, which is having adverse impacts on market growth opportunities.

How are New Market Entrants Estimated to Scale Up Their Business Scope?

“Development of Skid Steer Loaders with Simplified Mechanism”

Start-ups are investing at a significant rate in technological advancements. They are investing to design more advanced skid steer loaders that meet the emission regulations that have been laid down by governing bodies. Moreover, simplification in the mechanism of these machines is also predicted to open up lucrative opportunities for new companies.

Country-wise Insights

What is Driving Demand for Skid Steer Loaders in the United States?

“Increasing Construction Activities Stimulating Sales of Skid Steer Loaders”

Demand for skid steer loaders in the United States market is anticipated to expand at a CAGR of 1.9% and reach a valuation of US$ 465.12 million by 2033-end.

Demand for skid steer loaders in the United States is increasing due to rising construction activities. In addition, rising sales of skid steer loaders in residential, industrial, and infrastructural sectors are contributing to market growth opportunities.

Why are Manufacturers of Skid Steer Loaders Eyeing Germany?

“Availability of Huge Farm Lands Boosting Demand for Skid Steer Loaders”

Sales of skid steer loaders in the German market are predicted to advance at a CAGR of 2.5% and reach a value of US$ 398.24 million by the end of 2033.

Germany has a significant area of its land as farms that is predicted to boost demand for skid steer loaders there. These machines are employed at a noteworthy rate in the country, further contributing to the increased production there.

How is the United Kingdom Market Projected to Fare Going Forward?

“Presence of Skid Steer Loader Suppliers in the United Kingdom”

The United Kingdom market is projected to advance at a CAGR of 1.2% and reach a valuation of US$ 188.48 million by the end of 2033.

Presence of numerous suppliers of skid steer loaders in the United Kingdom is contributing to market growth. Moreover, expanding construction equipment industry and construction sector are also bolstering demand for skid steer loaders. The United Kingdom has a significant area of agricultural land that is propelling demand for skid steer loaders there.

Category-wise Insights

Why are Vertical Skid Steer Loaders a Preferred Choice in the Global Market?

“Higher Operating Capacity of Vertical Steer Loaders”

Based on lift, radial and vertical are two popular types of the global market. Between these two, sales of vertical skid steer loaders are estimated to increase at a CAGR of 2.7% and reach US$ 1.83 billion by the end of 2033.

Increased demand for vertical steer loaders is attributed to their higher operating capacity as they try to keep the load closer to the gravity center to offer stability. Load and carry applications, pallet fork work, material handling, and landscaping are some prominent use of these machines that make them an ideal solution for the mining and agricultural sector.

Which Application of Skid Steer Loaders is Expected to Account for High Revenue Streams?

“Infrastructure Developments in Construction Industry Driving Skid Steer Loader Sales”

Construction, agriculture and forestry, mining, industrial, and ground maintenance are some key sectors that are contributing to increased demand for skid steer loaders. The sales of skid steer loaders in the construction sector are forecasted to register a CAGR of 2.6% and reach a valuation of US$ 1.89 billion by the end of 2033. The segment is forecasted to hold about 62% share of the global market revenue by the end of 2033.

Rapid urbanization is leading to constant developments in the infrastructure sector at a large scale. Therefore an increase in the demand for machines and equipment is experienced for strong construction. Moreover, rising construction activities, including ports, highways, skyscrapers, railroads, etc. are also boosting product demand. Development in numerous infrastructure projects includes the adoption of new technologies for various construction activities. Thus, an increase in the demand for skid steer loaders is experienced in the coming decade in the construction sector.

Key Market Players

Prominent suppliers of skid loaders are spending on innovations and maintaining product standards. Their investments aim to strengthen the supply chain management systems of industry players.

Key market players are putting efforts to provide more effective skid steer loaders. Acquisitions, collaborations, partnerships, etc. are some strategies that are incorporated by market companies.

For instance :

• Yanmar Holdings, in September 2019, acquired ASV Holdings. The latter is a supplier of compact tracker loaders and skid steer loaders. Yanmar Holdings aimed to expand its global footprints, especially in North America, and leverage the strong dealer network of ASV Holdings through this acquisition.

Bobcat Company, CNH Agriculture N.V., ASV Sales & Services, Wacker Neuson SE, Komatsu Ltd., Ace Towel, Finning Cat, Caterpillar Inc., JCB, and Gehl are some key companies in the skid steer loader market.

Segmentation of Skid Steer Loader Industry Research

• By Lift :

  • Radial
  • Vertical

• By Operating Capacity :

  • Up to 2,000 lbs
  • 2,001 to 3,000 lb
  • Above 3,000 lbs

• By Engine Power :

  • Up to 65 HP
  • 66 to 80 HP
  • Above 80 HP

• By Application :

  • Construction
  • Agriculture and Forestry
  • Mining
  • Industrial
  • Ground Maintenance

• By Region :

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