According to IMARC Group’s latest report, titled “Skid Steer Loader Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2021-2026”, the global skid steer loader market reached a value of US$ 2.3 Billion in 2020. Looking forward, IMARC Group expects the global market to continue its moderate growth during 2021-2026.
Skid steer loader refers to a piece of mechanical equipment used primarily in the construction industry. It is a compact, engine-driven loader with a small rigid frame and a lift arm attached with tools, such as hydraulic hammers, stump grinders, forks, buckets, augers and trenchers. It is available in electrical and conventional variants with radial and vertical lifts and varying rated operating capacities (ROC). It is used to dig, collect and move bulk material, sand and dirt, and can maneuver in tight spaces, which aids in reaching narrow spaces. As a result, it finds extensive applications across other relevant industries, such as mining, landscaping and agriculture.
The market is primarily being driven by the significant growth in the construction industry and extensive infrastructural developments, especially in the developing nations. The loaders are widely used for the construction of buildings, highways, railways, roads and ports. In line with this, the development of smart cities is also favoring the market growth. The advent of skid steer loader renting services is providing a thrust to the market growth. Consumers can conveniently acquire high-cost machines with minimal capital and maintenance requirements. Other factors, including the launch of advanced loader variants with improved visibility and increased headroom and maneuverability, are anticipated to drive the skid steer loader market further.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Skid Steer Loader Market 2021-2026 Competitive Analysis and Segmentation:
The competitive landscape of the skid steer loader market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global skid steer loader market on the basis of operating capacity, power train, end use and region.
Breakup by Operating Capacity:
Breakup by Power Train:
Breakup by End Use:
Breakup by Region:
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Key highlights of the report:
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