Global Skid-Steer Loaders Market Overview:
The increase in the number of infrastructural projects such as the Construction of Highways, Railways, Roads and ports are driving the Global Skid Steer Loader market. Skid steer loaders are the equipment utilized for numerous tasks, such as loading and unloading of construction material in the construction industry. A Skid Steer Loader is a rigid framed, small or compact machine with lift arms. It is powered from a battery or an engine, however most skid steer loaders are engine powered, owing to the need for higher efficiency. The tool fitted with the arms is changeable as per the desired work. The ability of skid steer loaders to support attachments makes them versatile in nature and are highly manoeuvrable, owing to their compact size and easy functionality.
Market Drivers
- Increase in Residential Construction activities leading to more usage of skid steer loader
- Increase in population and spending capacity of individuals
- Skid Steer Loader used as rent for other construction companies thereby reducing operational costs.
Market Trend
- The growth in rental constructions as there is high demand for Construction Equipment in Small and Medium Sized Enterprises.
- Rising awareness about the Implementation of automation in the construction processes.
Restraints
- Rise in manufacturing cost and maintenance, initial Investment of the Skid Steer Loaders may hamper the growth of the market.
Opportunities
- Increased spending on Infrastructure Development in countries like China, India and Bangladesh are providing novel opportunities to the Global Skid Steer Loader players.
Challenges
- Alternatives used for Skid Steer Loader in construction like Schaffer Mini Loaders and wheel loaders.
Competitive Landscape:
The market is fragmented with many top players. There is a presence of several large and small vendors. The vendors in the market are competing based on factors such as price, products offered and customization options. The large companies are collaborating with small companies and are providing sufficient funding to support the demand for their products. For instance, Caterpillar is funding the online rental platform Yard Club.
Some of the key players profiled in the report are BobCat Company (United States), LiuGong Machinery Co., Ltd.(China), Sunward Equipment Group. (China), Groupe MECALAC S.A. (France), Wacker Neuson SE (Germany), AB Volvo (Sweden), CNH Industrial (United Kingdom), Doosan Group (South Korea), Manitou Group (France), Caterpillar Inc. (United States), JCB Ltd. (Japan), John Deere & Company (United States), Hyundai Motor Company (South Korea), Komatsu Ltd. (Japan), KUBOTA Corp. (Canada), Toyota Material Handling (Japan), Thomas Equipment, Inc. (United States), Zhejiang Junlian Machinery & Electronics Holding Co., Ltd.(China) and XCMG Group (China). Additionally, following companies can also be profiled that are part of our coverage like Hitachi Construction Machinery Co., Ltd.(Japan), Takeuchi Manufacturing (Japan), Terex Corp. (United States) and J C Bamford Excavators Ltd. (United Kingdom). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Skid-Steer Loaders market by 2024. Considering Market by Lifting Capacity, the sub-segment i.e. Up to 1550 lb. will boost the Skid-Steer Loaders market. Considering Market by Propulsion, the sub-segment i.e. Electric will boost the Skid-Steer Loaders market. Considering Market by System, the sub-segment i.e. Construction will boost the Skid-Steer Loaders market.
Market Highlights:
In April 2018, AB Volvo Company launched six new Skid Steer Loaders which provides 11% higher lifting capacity. These loaders offer more strength, greater capacities and improved safety and operator comfort to the driver.
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Skid-Steer Loaders market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Skid-Steer Loaders market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Skid Steer loader Manufacturers, Consultants and Investment Bankers, Government and Regulatory authorities and Distributors and Suppliers.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.