Global Skid Steer Loader Market – Introduction
Skid steer loader is a construction equipment that can be used in multiple sectors such as for agriculture, and industrial sectors. The wheels on the skid loader of each side can be locked in synchronization, which enables it able to turn with zero radius. Moreover, skid steer loaders are widely used in compact spaces. Ideally, the skid loader is fitted with front load bucket and can be used to dig or move landscaping and building materials, and load trucks.
Global Skid Steer Loader Market – Competitive Landscape
JCB, Caterpillar Inc., CNH Industrial America LLC., KUBOTA Corporation, Takeuchi US, Deere & Company, Hyundai Construction Equipment Co., Ltd., and AB Volvo are a few leading manufacturers of skid steer loaders. Moreover, manufacturers are focusing on the development of electric construction equipment. In March 2016, Caterpillar, Inc., introduced half excavator and half skid steer, which can be used as a multipurpose equipment according to requirement.
Caterpillar Inc.
Established in 1952 and currently based in Deerfield, Illinois, U.S., Continental AG is a leading global company that manufactures construction and mining equipment. It is at the forefront of development of heavy equipment and has a global presence.
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CNH Industrial America LLC
Founded in 1842 and presently based in Racine, Wisconsin, U.S., CNH Industrial America LLC is a leading company that specializes in the manufacture of the commercial vehicles and related equipment. The company also manufactures agricultural equipment. It operates through 12 barnds of construction equipment, farming equipment and commercial vehicles such as Case IH, New Holland, Case Construction, IVECO, and MAGIRUS.
Deere & Company
Deere & Company is a leading manufacturer of tractors. The company is presently based in Grand Detour, Illinois, U.S. It operates through a network of facilities spread across 30 countries worldwide. The company operates through four major business segments: Deere equipment operations, construction & forestry, agriculture & turf, and financial services.
KUBOTA Corporation
Established in 1890, KUBOTA Corporation started as a foundry. In 1922, it began production of oil-based engines, and later in 1947, the company entered into the manufacturing of cultivators. In 1972, the company entered into full-scale tractor manufacturing. Presently, KUBOTA Corporation is a renowned company for tractors and construction equipment.
Global Skid Steer Loader Market – Dynamics
Expansion of the construction industry at a notable pace
Demand for construction equipment has been rising continuously for the last few years, and most developing countries are investing significantly in the development of infrastructure. Expansion of the construction industry is anticipated to be a key factor driving the skid steer market. Furthermore, the skid steer loader has diverse applications in agriculture as well as for loading and unloading of materials.
Skid steer loaders are gaining in popularity among construction companies in urban areas, as they are ideal for use in tight spaces due to their zero turning radius. High investment for development of electric skid steer loaders by manufacturers indicate a rising demand for skid steer loaders.
According to a report by Larsen and Toubro, investment for infrastructure development is likely increase at a considerable pace between 2018 and 2022, which in turn is expected to boost the market for skid steer loader.
Availability of high capacity alternatives that possess high efficiency
Skid steer loaders are small in size and are mostly preferred for compact spaces. Consequently, in large spaces, heavy excavators and bulldozers are preferred over skid steer loaders. Large excavators with movable boom can be efficiently utilized even in small spaces with higher capacity, which in turn is hampering the adoption of skid steer loader among large construction companies.
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Global Skid Steer Loader Market – Segmentation
Based on propulsion type, the global skid steer loader market can be segmented into
- Crawler
- Wheeled
Based on the power output, the global skid steer loader market can be bifurcated into
- Below 50 HP
- 50 HP & above
Based on the powertrain, the global skid steer loader market can be classified into
- Electric Skid Steer Loader
- Diesel Powered Skid Steer Loader
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