NEW YORK, January 28, 2021 / PRNewswire / – Award-winning research firm Fact.MR reported in its latest research report on Skid Steer Loaders that the market is expected to see stable growth through 2020 in 2021, with long-term growth prospects looking broadly optimistic. A modest CAGR of more than 3% is expected for the forecast period 2021-2031. The disruptions in the supply chain that occurred during the pandemic crisis worsened growth prospects in the previous year.
The easing of lockdowns since the fourth quarter of 2020 has sparked a resurgence in key end-use industries, particularly construction and infrastructure development. As a result, skid steer loader sales have rebounded in recent months. Prominent manufacturers target the Asia Pacific Region to make amazing profits in the coming forecast period.
India represents lucrative growth opportunities, with the domestic construction industry being the third largest by 2025. As part of its self-employment program, the Indian government recently unveiled the Affordable Rental Housing Complex (ARHC) program to promote housing construction in years ahead. This should boost demand for skid steer loaders in the short term. The industry is expected to grow by over 11% by the end of 2021.
Likewise, the Chinese construction sector is ready to generate credible revenue streams for skid steer loader manufacturers. Since the second half of the pandemic, the government has been issuing construction bonds to keep projects alive, lifting the industry out of a predicted recession. From July 2020Almost 30% of the bonds were used to finance industrial parks, urban development projects and infrastructure developments.
“As the world's population soars, massive infrastructure projects are on the cards. By the end of the decade, over two out of five megacity projects are expected to accommodate more than 10 million residents. Therefore, skid steer loader sales are powered by advanced equipment. It is expected.” that software is multiplying, “says the Fact.MR analyst.
Request sample report:
Important findings from the study on the skid steer loader
- By lift type, vertical skid steer loaders are expected to remain lucrative, generating three in four sales
- The construction industry remains the main area of application and will generate almost half of the share of sales in 2021
- Ensuring optimal performance of the power attachments to ensure the takeover of the 65-80 hp steering loader with certainty
- The US has a significant share of the market due to the presence of numerous steering loader start-ups
- The UK is experiencing steady annual growth due to ownership of farms of more than 1,000 hectares per farmer
- Germany & France to see steady growth due to advances in agriculture
- China almost reachable $ 600 million by 2021 due to a booming construction industry, Japan and South Korea attractive growth hotspots remain
Prominent players in the skid steer loader landscape include CNH Agriculture NV, ASV Sales & Services, Bobcat Company, Wacker Neuson SE Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Deere & Co., Yanmar Co. Ltd. and the Kubota Corporation among others. The most important expansion strategies include portfolio diversification, capacity expansion and technological progress.
Several manufacturers use AI and Industry 4.0 to automate their product offerings. For example, Kubota Corporation invested a stake in American startup FarmX Inc. in 2020 to manage and automate irrigation, minimize harvest stress and maximize yield. This initiative is intended to support the company in equipping its steering loaders with advanced software in order to achieve greater precision in agricultural operations.
Bobcat Company is a leading skid steer loader manufacturer offering a range of equipment including the S70 skid steer loader, S450 skid steer loader, S510 skid steer loader and S62 skid steer loader. The S510, for example, with its innovative and new fuel system, offers maximum uptime for more efficient operation and easy maintenance.
More Valuable Insights into the Skid Steer Loader Market report
In its most recent report, Fact.MR has presented a detailed analysis of the global Skid Steer Loader market as well as an assessment for the years 2021-2031. For a better understanding, the market has been divided into several segments. Based on buoyancy, the market is divided into radial and vertical. Capacities of up to 2000 lbs, 2000 to 3000 lbs, and over 3000 lbs fall under the operating capacity segment. The engine power segment is divided into up to 65 HP, 66 to 80 HP and over 80 HP. Depending on the application, the Skid Steer Loader market is segmented into Construction, Agriculture & Forestry, Mining, Industrial, Ground Care, and others. Finally, by region, the market is divided into North America, Latin America, Europe, East asia, South asia, Oceania and MEA.
Key questions addressed in the report:
- What is Skid Steer Loader Aftermarket Sales?
- What are the main skid steer loader suppliers?
- How did the construction sector recover and become the largest end-user in the skid steer loader market?
- How Bobcat dominates the market by selling more skid steer loaders than its contemporaries combined
- What is the skid steer loader replacement rate in the market?
Get access to the full report: https://www.factmr.com/checkout/389/S
Discover Fact.MR's coverage of the automotive landscape
Automotive Headliners Market: A new market study published by Fact.MR on the Global Automotive Headliners Market provides readers with a comprehensive analysis of key market dynamics, including the drivers, restraints, opportunities, and trends, along with extensive data on the structure of the market. The report also provides information regarding the growth of the automotive headliner market during the evaluation period from 2021 to 2031.
Power Distribution Module Market: Fact.MR recently published a market study on the global power distribution module market. The study provides a detailed assessment of the key market dynamics including the drivers, trends, opportunities, restraints, and detailed information related to the Power Distribution Modules market structure.
Solar-powered car market: A recent study by Fact.MR on the solar-powered car market offers a 10-year forecast from 2020 to 2030. The study analyzes key trends that are currently determining market growth. This report explains key dynamics such as drivers, restraints, and opportunities for key market participants as well as key stakeholders.
A special kind of market research and consulting agency! That's why 80% of Fortune 1000 companies trust us to make their most important decisions. While our seasoned consultants use the latest technology to extract hard-to-find insights, we believe our unique selling proposition is the confidence clients have in our expertise. Our coverage spans a broad spectrum – from automotive & Industry 4.0 to healthcare & retail – and is extensive. However, we make sure that most of the niche categories are analyzed as well. We are headquartered in Dubaiand work from our sales office in Dublin, Ireland. Contact us with your goals and we will be a capable research partner.
US sales office:
11140 Rockville Pike
Rockville, MD 20852
Tel .: +1 (628) 251-1583
E: [email protected]
Unit No .: AU-01-H Gold Tower (AU),
Lot number: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates