This market research analysis segments the global skid-steer loader market by end user (infrastructure sector and residential sector) and by geography (Americas, Europe, Middle East, APAC, and Africa). It also presents a detailed analysis of the key vendors like Bobcat, Case, Caterpillar, Komatsu, and Terex.
Technavio has released updated information on the skid steer market, with the publication of its new market research report, global skid steer loader market. The global skid steer loader market is expected to grow at a CAGR of around 8% between 2016 and 2020. The recent increase in the number of infrastructure projects, such as the construction of highways, railways, roads, and ports, is expected to account for this market’s impressive growth rate during the forecast period. The Americas is the largest market for skid steers, accounting for 59% of the total market share. Factors such as the rising urban population, increased brand awareness, and the recent rise in per capita annual disposable income of urban households are responsible for this region’s high market share during the forecasted period.
“Construction companies are focusing on the sustainable development of projects to acquire energy efficiency certificates. This has encouraged them to go for energy-efficient and user-friendly skid-steer loaders, which help to minimize emissions and pollution during the project’s lifecycle. For instance, Case Construction’s skid-steer loader models-SR210, SR240, and SV280 offer high level of performance, and are ideal for digging, pushing, landscaping, residential construction, and agricultural applications,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
The development of smart cities is the key driver for the growth of this market. Recently, it has been observed that migration of people from rural to urban areas is attracting investments towards the development of smart cities. Such development projects involve the adoption of advanced technology in the construction process, which in turn drives the demand for skid-steer loaders.
The major players in the global skid steer loader market include Bobcat, Case, Caterpillar, Komatsu, and Terex. This market is extremely competitive and is primarily dominated by large players like Bobcat and Case Construction. In order to successfully survive in this market, many large vendors have started to fund construction equipment rental companies as it will help them to strengthen their customer base.
A more detailed analysis is available in the Technavio report, Global Skid Steer Loader Market 2016-2020.
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