Skid Steer Loader Market: Journey to US$ 10.33 Billion by 2033 Begins

prashitk

posted on 5 months ago — updated on 2 seconds ago

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The global skid steer loader market in 2022 was US$ 2.5 billion and is estimated to be US$ 3.53 billion in 2023. Future Market Insights has mentioned in its reports that the skid steer loader market will expand at a CAGR of 11.34% between 2023 and 2033, totaling around US$ 10.33 Billion by 2033.

The sales of skid steer loaders are poised for growth due to the escalating demand for energy-efficient construction equipment. With increased government investments in infrastructure development projects in both developed and developing nations, the construction industry is expected to experience significant expansion, thereby driving up the demand for skid steer loaders. Consequently, it is anticipated that the sales of skid steer loaders will experience substantial acceleration during the forecast period.

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Fears of new COVID outbreaks and uncertain post-pandemic path pose a real risk of the world has thus experienced more acute supply chain pain and manufacturing disruptions.

Key Takeaways from the Skid Steer Loader Market Report:
The global skid steer loader market experienced robust growth, with a CAGR of 10.62% from 2017 to 2022. Notably, North America dominates the sector, holding a substantial market share of 32.2%, with the United States accounting for 28.4% of the market. In Europe, the market share stands at 23%, while India shows promising growth with a forecasted CAGR of 6.33%. Small-size skid loaders constitute the majority, claiming a 55% market share, and construction companies lead in ownership, holding 62% of the market share.

Competition Landscape:
The key players in the skid steer loader market are CNH Industrial, Doosan Corporation, Takeuchi Construction Machinery, Kato Works Co., Ltd, Hyundai Heavy Industries Co, Hitachi Construction Machinery Co., Ltd, Deere & Co, Komatsu Ltd., And others.

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