Demand for Skid Steer Loader Market to Grow at a CAGR of 3.1% Through 2026

The versatility of skid steer loaders, as far as their uses are concerned, complemented by features such as improved productivity, fuel efficiency, and reduced carbon emissions, make them the top choice across various industries such as agriculture, mining, and especially construction.

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With construction activities picking pace after temporary shutdowns in 2020 due to the COVID-19 pandemic, demand for skid steer loaders will see a steady rise across regions. Rising urbanization is necessitating the need for fast-tracking infrastructure projects such as construction of highways, metros, roads, and ports, where these loaders are used on a large scale. They can also be used in compact spaces, and can perform a range of tasks by changing their attachments, which further drives demand from various industries.

skid steer loader market by region

As per Fact.MR analysis, the global skid steer loader market registered a growth of around 3% in 2021 over 2020, and is projected to progress at the same pace through 2031.

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Key Takeaways from Skid Steer Loader Market Report

  • The global skid steer loader market was valued at around US$ 2.7 billion in 2020.
  • Increasing construction activities across APEJ has resulted in the region accounting for the most demand for skid steer loaders, with a global market share of close to 40% over the next ten years.
  • The market in APEJ will also expand at the highest of over 3.5%, with China playing a big part due to rising investments by the government in construction projects.
  • Vertical lift skid steer loaders are expected to hold more than three-fourth of the demand share through 2031.
  • 2000-3000 lb skid steer loaders (mid-range) will experience greater use across industries, at over 40% of the total market share.
  • Around half of the demand for skid steer loaders will come from the construction industry.
  • After initial setbacks due to the COVID-19 outbreak, the global skid steer loader market is slated to get back to its original growth pace of around 3% for the long-term duration.

Research & Development Efforts to Boost Market Growth

Construction equipment manufacturers are attempting to develop energy-efficient skid steer loaders that are ideal for multiple tasks, such as commercial and residential construction, agricultural activities, mining and forestry applications, landscaping, and pushing and digging. Moreover, rising environmental concerns have stimulated the development of battery-operated skid steer loaders to reduce carbon emissions caused by diesel-based loaders. Other notable developments in the market are integration of GPS systems with these machines, autonomous and self-driven loaders, wireless connectivity, and increased operator comfort.

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Technological progress by manufacturers is improving the maneuverability of skid steer loaders and promoting sustainable attributes such as reduction of fuel consumption and carbon emissions, which is complementing demand growth. The main competitors tracked and analyzed by Fact.MR in the global skid steer loader market are Caterpillar Inc., Deere & Co., Komatsu Ltd.,  Hitachi Construction Machinery Co., Ltd., Volvo Construction Equipment and Services, Inc, Doosan Bobcat Inc., Yanmar Co., Ltd., CNH Industrial N.V., JCB, Inc., Kubota Corporation, Hyundai Heavy Industries Co., Ltd., Wacker Neuson SE, XCMG, Guangxi Liugong Machinery Co., Ltd., B E M L Ltd, Kato Works Co., Ltd., Sany Group Co. Ltd., Takeuchi Construction Machinery, and  Zhejiang Hero Time Machinery Co., Ltd.

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