Enjoy complimentary customisation on priority with our Enterprise License!
The skid-steer loaders market size is forecast to increase by USD 378.45 million, at a CAGR of 2.56% between 2023 and 2028. The growth rate of the market depends on several factors such as unveiling the multifaceted features of skid-steer loaders, growth of the rental skid-steer loader market and high investments in infrastructure projects. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
North America is a crucial region in the market, marked by robust demand from diverse industries and stringent regulatory frameworks. Comprising the US and Canada, the region significantly contributes to market growth, driven by various factors, including technological advancements. Key players like AB Volvo offer skid steer loaders such as Volvo MC60, Volvo MC60B, and Volvo MC60C. Similarly, Caterpillar Inc. provides skid steer loaders like 226B3, 232D3, and 236D3, reinforcing their substantial presence in the market.
Market Forecast 2024-2028
To learn more about this report, Request Free Sample
The Skid-steer Loaders Market is driven by versatile applications like site clean-up, material spreading, and road sweeping. Increased demand arises from the construction industry's focus on energy-efficient equipment, coupled with government investments in infrastructure development projects. Compact size, adaptability, and multifunctional attachments, including forks, buckets, hydraulic hammers, augers, stump grinders, trenchers, and landscape rakes, contribute to their widespread adoption. However, challenges include addressing the need for enhanced capacity, ensuring compatibility with various attachments, and navigating market trends driven by technological advancements, emission standards, and customer preferences. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
One of the key drivers propelling the market is their multifunctional capabilities. Their ability to accommodate various attachments and tools, such as site clean-up, material spreading, road sweeping, backfill, grass and slab preparation, makes them versatile for a range of tasks. In addition, the focus on energy-efficient construction equipment aligns with global initiatives, and substantial government investments in infrastructure development projects further drive the demand.
Moreover, the construction industry benefits from their capacity, compact size, and adaptability. Various attachments, including forks, buckets, hydraulic hammers, augers, stump grinders, trenchers, and landscape rakes, enhance their functionality, making them indispensable in construction and development activities.
The market is witnessing growth with the rising demand for electric and hybrid models. This surge in demand is primarily driven by increasing environmental concerns and the tightening of regulations aimed at reducing emissions. The growing preference for eco-friendly machinery among consumers reflects a broader industry shift toward sustainability. Leading manufacturers such as Caterpillar Inc. and Bobcat Company (a subsidiary of Doosan Corp.) are at the forefront of this trend, offering innovative electric and hybrid skid-steer loader solutions. Caterpillar Inc. offers electric models of Electric Skid Steer Loader, designed to provide zero-emission operation without compromising performance.
Similarly, Bobcat Company sells hybrid skid-steer loaders, such as the Bobcat, which combines an electric motor and diesel engine for improved fuel economy and less environmental impact. As environmental concerns continue to drive market preferences, the demand for electric and hybrid skid-steer loaders is expected to grow further, with manufacturers focusing on expanding their product offerings and advancing technological capabilities to meet this evolving demand. Thus, the market will witness growth during the forecast period.
Stringent global regulations on emissions and noise levels pose a significant challenge for the market. Governments, particularly in the European Union (EU), are enforcing stringent standards, compelling manufacturers to develop cleaner and quieter machinery. The EU's Stage V standards, implemented to address air quality concerns, set strict limits on particulate matter and nitrogen oxide emissions for skid-steer loaders and other non-road mobile machinery.
Additionally, noise emissions regulations, such as the EU's outdoor noise directive, limit the noise levels produced by skid-steer loaders. Despite being a driving force for noise reduction, the directive requires adjustments to align with technological advancements. These stringent regulations present obstacles for manufacturers, potentially hindering market growth during the forecast period
The small frame segment is estimated to witness significant growth during the forecast period. In the market, the segment characterized by small frame sizes is witnessing notable traction. Small-frame skid-steer loaders typically range around 1,750 pounds in operating capacity. These compact machines are gaining popularity due to their versatility, maneuverability, and ability to operate in confined spaces.
Customised Report as per your requirements!
The small frame segment was the largest and was valued at USD 983.71 million in 2018. Key factors driving the demand for small-frame skid-steer loaders include their ease of transportation, reduced fuel consumption, and compatibility with a wide range of attachments, enhancing their applicability across diverse tasks. Moreover, advancements in technology have led to the development of compact skid-steer loaders with improved performance, efficiency, and operator comfort. The growing trend toward urbanization, coupled with the increasing focus on infrastructure development and renovation projects, is further bolstering the demand for small-frame skid-steer loaders globally. Additionally, the rising adoption of rental equipment and the expansion of the construction sector in emerging economies are expected to raise the demand for small-frame skid-steer loaders, which in turn will propel the growth of the market during the forecast period.
Based on the application, the market has been segmented into construction and mining, landscaping and ground maintenance and agriculture. The construction and mining?segment will account for the largest share of this segment.? The construction and mining sectors are significant contributors in terms of market share in the market, driving demand for these versatile machines in various applications. The reliance of construction and mining sectors on skid-steer loaders is expected to continue growing, driven by ongoing infrastructure development projects and urbanization trends. As these industries evolve, skid-steer loader manufacturers are likely to focus on developing innovative features and technologies to address specific needs and challenges within construction and mining applications, which will further propel the growth of the market during the forecast period.
For more insights on the market share of various regions Download Sample PDF now!
North America is estimated to contribute 72% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America serves as a vital region in the market, characterized by robust demand fueled by diverse industries and stringent regulatory frameworks. The region, comprising the US and Canada, is a major contributor to market growth, driven by various factors, including technological advancements. In North America, the construction industry significantly increases the demand due to rapid urbanization, infrastructure development projects, and residential construction activities necessitate versatile and compact equipment such as skid-steer loaders for various tasks such as material handling, excavation, and landscaping.
Additionally, advancements in skid-steer loader technology, including improved fuel efficiency and emission control systems, align with stringent environmental regulations in North America, which boosts the increase in technological advancements and adoption of electric-powered skid-steer loaders in the construction sites, which will further drive regional market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CNH Industrial NV - The company offers skid steer loaders such as SR175 skid steer loader, SR210 skid steer loader, and SR270 skid steer loader.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Guangxi Liugong Machinery Co. Ltd., Hitachi Ltd., Hyundai Motor Co., J C Bamford Excavators Ltd., KATO IMER S.P.A, Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, Lonking Holdings Ltd., Manitou BF SA, SHERPA mini loaders BV, Takeuchi Mfg. Co. Ltd., Terex Corp., Wacker Neuson SE, and Yanmar Holdings Co. Ltd.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market experiences robust growth with widespread applications, including site clean-up, material spreading, road sweeping, backfill, and grass and slab preparation. Increased sales result from the demand for energy-efficient construction equipment, supported by government investments in both developed and developing countries. A surge in infrastructure projects, combined with the machines' compact size, adaptability, and use of various attachments like forks, buckets, hydraulic hammers, augers, stump grinders, trenchers, and landscape rakes, enhances their operational versatility.
Moreover, the rising adoption of Compact Tracked Loaders (CTLs) is notable, offering efficiency in construction and mining activities across diverse terrains, from sandy to concrete surfaces. In agricultural fields, skid-steer loaders contribute to tasks like manure scraping, bale handling, rotary cultivation, seeding, mowing, and livestock feed pushing, providing essential support for landscaping, ground maintenance, and small to medium-sized farms. The skid loader segment, marked by higher horsepower engines, cabin comfort, air conditioning, and joystick control, significantly impacts market volume and total cost of ownership.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.56% |
Market Growth 2024-2028 |
USD 378.45 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.79 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 72% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB Volvo, Caterpillar Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Guangxi Liugong Machinery Co. Ltd., Hitachi Ltd., Hyundai Motor Co., J C Bamford Excavators Ltd., KATO IMER S.P.A, Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, Lonking Holdings Ltd., Manitou BF SA, SHERPA mini loaders BV, Takeuchi Mfg. Co. Ltd., Terex Corp., Wacker Neuson SE, and Yanmar Holdings Co. Ltd. |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.