The compact wheel loaders global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Compact Wheel Loaders Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The compact wheel loaders market size has grown steadily in recent years. It will grow from $5.39 billion in 2023 to $5.64 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to growth in construction and infrastructure development, urbanization and population migration to cities, versatility and multi-purpose applications of compact wheel loaders, need for efficient material handling and earthmoving equipment, increased demand for compact equipment in landscaping and agriculture.
The compact wheel loaders market size is expected to see steady growth in the next few years. It will grow to $6.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to emphasis on environmental regulations and emissions compliance, expansion of rental and leasing services for compact equipment, growing use of telematics and iot in equipment fleet management, demand for electric and hybrid compact wheel loaders, market penetration in emerging economies and developing regions. Major trends in the forecast period include electrification and hybrid technology, compact wheel loaders with telematics integration, advanced operator comfort and safety features, autonomous and semi-autonomous capabilities, focus on compact dimensions and articulation, advanced hydraulic systems.
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Scope Of Compact Wheel Loaders Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Compact Wheel Loaders Market Overview
Market Drivers –
The expansion of the construction industry is expected to propel the growth of the compact wheel loaders market going forward. The construction industry refers to an industrial branch of manufacturing and trade-related operations that includes infrastructure development, repair, renovation, and maintenance. Construction activities have been on the rise due to rapid industrialization and urbanization. A compact wheel loader makes construction operations safer and more efficient in various applications due to its versatility, which in return reduces operating costs. For instance, in September 2023, according to reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, global construction output in 2020 stood at US$10.7 trillion. It is projected to experience substantial growth of approximately 42%, adding US$4.5 trillion and reaching a total of US$15.2 trillion by the year 2030. Therefore, the expansion of the construction industry is expected to propel the growth of the compact wheel loaders market.
Market Trends –
Product innovations have emerged as a key trend gaining popularity in the compact wheel loaders market. Major companies operating in the compact wheel loaders market are focused on introducing innovative products to reinforce their position. For instance, in May 2022, Caterpillar, a US-based construction machinery and equipment company, launched next-generation Cat 906, 907, and 908 compact wheel loaders. The new wheel loader models feature a re-engineered operator’s station that leverages exclusive Cat technologies to improve the operator experience. Controls mounted on the seat improve the ergonomics of the new loaders. With a multifunction joystick, operators can control travel direction, speed, proportional auxiliary flow, differential lock, and constant hydraulic flow without removing their hands.
The compact wheel loaders market covered in this report is segmented –
1) By Product: Compact Track Loaders, Skid Steer Loaders, Backhoe Loaders, Wheeled Loaders
2) By Operating Weight: Less Than 6000 Kg, More Than 6000 Kg
3) By Application: Construction, Ground Maintenance, Landscaping, Mining, Forestry and Agriculture, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the compact wheel loaders market in 2023. The regions covered in the compact wheel loaders market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the compact wheel loaders market include Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Volvo AB, CNH Industrial N.V., Yanmar Holdings Co. Ltd., J.C. Bamford Excavators Limited, Kubota Corporation, Case Construction Equipment, Larsen & Toubro Limited, Holland Construction, Wacker Neuson Group, Sany Heavy Industry Co. Ltd., Liugong Machinery Co. Ltd., Liebherr Group, Doosan Infracore Co. Ltd., Bobcat Company, Terex Corporation, Hyundai Heavy Industries Co. Ltd., Shandong Lingong Construction Machinery Co. Ltd., Sunward Intelligent Equipment Co. Ltd., Changlin Company Limited, Weichai Holding Group Co. Ltd., Xiamen XGMA Machinery Co. Ltd., Lovol Heavy Industry Co. Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd., Shantui Construction Machinery Co. Ltd., Foton Lovol International Heavy Industry Co.
Table of Contents
1. Executive Summary
2. Compact Wheel Loaders Market Report Structure
3. Compact Wheel Loaders Market Trends And Strategies
4. Compact Wheel Loaders Market – Macro Economic Scenario
5. Compact Wheel Loaders Market Size And Growth
…..
27. Compact Wheel Loaders Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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