The global compact wheel loader market is in the midst of a transformation, with technology sweeping the entire industry. Increase in comfort and convenience of cabs, combined with improvement in quality of buckets and provision for extra buckets are some of the changes in the compact wheel loader market. According to a research by Future Market Insights (FMI), the global compact wheel loader market is expected to reach a valuation of over US$ 314 Mn by the end of 2026. It is projected that the global compact wheel loader market will grow at a CAGR of 2.5% during the assessment period 2017-2026.
The report provides a detailed analysis on the global compact wheel loader market, highlighting the key segmentation highlights. The report has segmented the market on the basis of operation weight, bucket capacity, application, and country.
North America Analysis
In North America, use of compact wheel loaders with operating weight less than 6000 kg is higher than that of more than 6000 kg. On the basis of bucket capacity, the key segments include less than 1 cubic meter and more than 1 cubic meter. Currently, the demand for more than 1 cubic meter bucket capacity is higher than less than 1 cubic meter. More than 1 cubic meter bucket capacity segment in North America is likely to reach nearly US$ 35.6 Mn in revenues by the end of 2026.
On the basis of application, the key segments in North America compact wheel loader market are construction, mining, ground maintenance, landscaping, forestry & agriculture, and others. Among these segments, adoption of compact wheel loaders in the construction sector continues to account for the bulk of revenues. This segment is likely to reach a valuation of US$ 27.9 Mn by the end of forecast period.
Asia Pacific excluding Japan Analysis
Asia Pacific excluding Japan (APEJ) is one of the leading markets for compact wheel loaders globally. The compact wheel loaders market in APEJ is likely to reach a value of nearly US$ 141 Mn in revenues by the end of forecast period. The high demand for compact wheel loaders in Asia Pacific excluding Japan (APEJ) is on account of the resurgence in the construction industry and government initiatives on boosting infrastructure. Many countries in APEJ are focusing on boosting their infrastructure, which has led to massive spending on construction activities. These macroeconomic trends are providing an impetus to the growth of the compact wheel loaders market in the region.
China and India are likely to be the major centers of growth for the compact wheel loader market in APEJ. These two countries have been at the forefront of growth in the APEJ region, and it is highly likely that demand for compact wheel loaders will continue to witness an increase in the near future as well.
Some of the leading companies profiled in the report include Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, Volvo Construction Equipment, Doosan Bobcat, Inc., Yanmar Holdings Co. Ltd, JCB, Inc, Kubota Corp., and Case Construction Equipment.
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote