Compact loaders have transformed from single tool equipment – bucket only – to multi-tool equipment. Advances in attachment offerings over the past decade have stepped up the versatility and productivity of compact loaders.
At present, compact loaders are commonplace in landscaping projects and construction sites, given their optimal size, low fuel consumption, and new attachment options.
At the heart of some of the most notable tech-enabled transformations over recent past, compact loaders have emerged as fertile breeding ground for innovations and application versatility.
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Compact Loaders Market Size Study
- Players to reap relevant profits from industrial and agriculture and forestry sectors
- Compact track loaders to generate significant revenue through 2030
- Market in North America to make considerable strides, especially in agriculture and forestry vertical
- E-mobility to define growth strategies of market players in near future
“Reliability, coupled with long-lasting service life, of compact loaders is auguring well for rental models in the global market, which captures relatively greater revenue share in the compact construction equipment industry versus other product families such as general purpose excavators. In addition, advent of electromobility (e-mobility) is expected to further work in favor of rental business models in coming years,” says analyst at FMI.
COVID-19 Impact on Compact Loaders Market
With prolonged inactivity in construction industry, overall delays in construction project timelines, and interrupted fund flows for operations, the global compact loaders market is at the wrong end of COVID-19 pandemic.
As a preventative measure against COVID-19 crisis, majority of manufacturers have been prioritizing workforce safety and are closing down most of their manufacturing units for certain timeframe.
Construction activities have contracted across the globe in Q2 of 2020 amid countrywide lockdowns and impact of physical distancing protocols. About a quarter of projects were paused in the second quarter, and on-site productivity is projected to fall by 12% in near future.
Moving ahead, sales volume of construction equipment has plummeted nearly 70% on-year during first quarter, and utilization has almost halved, following 20% volume dip in FY 2020. That said, the compact loaders market is set for steady recovery as building sites gradually reopen after lockdown relaxations.
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Compact Loaders Market – Competitive Intelligence
Significant rise in e-mobility is likely to reimagine the market landscape. Manufacturers are investing heavily in transforming their product lines from diesel to electric. For instance,
- Case Construction Equipment has rolled out Project Zeus 580 EV, which is regarded as first fully electric backhoe loader in construction industry.
- Volvo CE is expected to kick start the production of its range of electric wheel loaders and compact excavators, which would be ideal for city use.
- Yanmar Holdings has acquired ASV Holdings, which is among key suppliers for compact tracked loaders and skid steer loaders. The acquisition has aided Yanmar Holdings to utilize well-established dealer network of ASV Holdings and strengthen its position globally, particularly in North America.
- Agriculture and Forestry
- Compact Track Loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East and Africa
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Furthermore, the trend towards electrification of compact loaders is poised to persist as technology matures and becomes more consolidated for off-road use cases.
- Base year considered – 2019
- Historical Period- 2015 – 2019
- Forecast period – 2020 – 2030
- Market Value in 2019 –
- Segments covered -Product type, application and region
- Regions Covered -North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa (MEA), and Japan
- Key Companies-Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Yanmar Holding Co. Ltd., Volvo Construction Equipment, Liebherr Group, Deere & Company, Xuzhou Construction Machinery Group Co. Ltd., Sany Heavy Industry Co. Ltd., Doosan Corporation, KUBOTA Corporation, CNH Industrial N.V., and Takeuchi Mfg. Co. Ltd.
Key Questions Answered in the Report:
- Which product type will hold major share of compact loaders market globally and why?
- What are the factors driving the global compact loaders market?
- What will be the revenue size of compact loaders market by 2030?
- Who are the leading manufacturers in the compact loaders market?
- Which trends and innovations are expected to transform the global compact loaders market in coming years?