FMI Revises Compact Loaders Market Forecast, as COVID-19 Pandemic Continues to Expand Quickly
VALLEY COTTAGE, N.Y. – The application of compact loaders in the construction sector is likely to capture a significant market share due to a rapid increase in the number of construction projects in various countries. Growth in the construction industry depends on a number of factors such as GDP growth, investment in real estate and emerging business models such as PPP, M&A activities and various other factors.
Agriculture and forestry is the second largest application area of compact loaders during the period of assessment. APEJ and North America regions are the hotspots of the compact loaders market and are driving the demand in this segment of agriculture and forestry. In addition, utilities and industrial applications of compact loaders are also expected to grow at a significant CAGR during the period of assessment.
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To gauge the market of compact loaders all over the world, Future Market Insights presents a report titled ‘Compact Loaders Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’. This comprehensive report studies the performance of the global compact loaders market over a 10 year assessment period from 2017 to 2027. The report presents the value and volume forecast of the global compact loaders market and provides key insights into the factors driving market growth as well as the factors restricting the market growth. As per the estimates, the global compact loaders market is estimated to be valued at nearly US$ 9,600 Mn in the year 2017 and is projected to reach a value of nearly US$ 13,300 Mn by 2027, registering a CAGR of 3.3% during the assessment period.
Global Compact Loaders Market: Segmentation and Forecast
The report segments the global compact loaders market on the basis of product type and application. On the basis of product type, the global compact loaders market is sub-segmented into compact track loaders, skid steer loaders, backhoe loaders and wheeled loaders. On the basis of application, the global compact loaders market is sub-segmented into construction, agriculture & forestry, industrial and utilities.
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- By product type, the compact track loaders segment is estimated to be valued at nearly US$ 2,850 Mn in the year 2017 and is projected to reach a valuation of nearly US$ 4,200 Mn in the year 2027, registering a CAGR of 4.0% during the period of assessment.
- Agriculture and forestry sub-segment by application is estimated to be valued at nearly US$ 2,400 Mn in the year 2017 and is projected to reach a value of nearly US$ 3,210 Mn in the year 2027, registering a CAGR of 3.1% during the period of assessment.
Global Compact Loaders Market: Regional Forecast
Future Market Insights tracks the performance of the global compact loaders market across the key geographies of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
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The North America compact loaders market is estimated to be valued at nearly US$ 4,000 Mn in the year 2017 and this is projected to increase to about US$ 5,600 Mn by the end of the year 2027, exhibiting a CAGR of 3.5% during the period of assessment. The APEJ regional market is anticipated to witness a growth rate of 3.4% in terms of value during the assessment period.
Global Compact Loaders Market: Vendor Insights
This report profiles some of the leading players operating in the global compact loaders market such as 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.
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