NEW
YORK, July 2, 2024 /PRNewswire/ -- The global
wheel loaders market size is estimated to grow by USD 25.85 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 9.8% during
the forecast period. Increasing investments in public
infrastructure is driving market growth, with a trend towards
rising adoption of compact and efficient wheel loaders. However,
growing rental equipment market poses a challenge. Key market
players include AGCO Corp., Caterpillar Inc., CNH Industrial NV,
Deere and Co., Doosan Corp., Hyundai Heavy Industries Co. Ltd.,
Hidromek Hidrolik ve Mekanik Makina Imalat Sanayi ve Ticaret A.S.,
Hitachi Ltd., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr
International Deutschland GmbH, Lonking Holdings Ltd., Manitou BF
SA, Groupe Mecalac SAS, Sany Group, Schaffer Maschinenfabrik GmbH,
Shandong Heavy Industry Group Co. Ltd., AB Volvo, Wacker Neuson SE,
and Yanmar Holdings Co. Ltd.
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segments, customer landscape, and companies- View the
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Wheel Loaders Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.8%
|
Market growth
2024-2028
|
USD 25856.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.69
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 32%
|
Key
countries
|
China, US, India,
Japan, and Germany
|
Key companies
profiled
|
AGCO Corp., Caterpillar
Inc., CNH Industrial NV, Deere and Co., Doosan Corp., Hyundai Heavy
Industries Co. Ltd., Hidromek Hidrolik ve Mekanik Makina Imalat
Sanayi ve Ticaret A.S., Hitachi Ltd., J C Bamford Excavators Ltd.,
Komatsu Ltd., Liebherr International Deutschland GmbH, Lonking
Holdings Ltd., Manitou BF SA, Groupe Mecalac SAS, Sany Group,
Schaffer Maschinenfabrik GmbH, Shandong Heavy Industry Group Co.
Ltd., AB Volvo, Wacker Neuson SE, and Yanmar Holdings Co.
Ltd.
|
Market Driver
The compact wheel loader market is experiencing significant
growth due to the increasing demand for efficient and lightweight
construction equipment. With operating weights ranging from 5-7
tons, these loaders offer advantages such as improved fuel
efficiency, increased travel speed, and minimal ground disturbance.
Compact wheel loaders are preferred over skid steer loaders and
backhoes for these reasons, making them a popular choice for
construction and excavation sites. This trend is expected to
continue, positively impacting the global market for wheel loaders
during the forecast period.
The global Wheel Loaders market is experiencing significant
growth, driven by increasing demand from various industries such as
construction, mining, and agriculture. The market is characterized
by advanced technology, with features like high capacity, agility,
and versatility becoming increasingly popular. The use of
fuel-efficient engines and innovative designs is a key trend, as is
the integration of technology for improved productivity and
operator comfort. The market is competitive, with major players
focusing on product innovation and expansion into emerging markets.
The future looks bright for the Wheel Loaders market, with
continued growth expected due to increasing infrastructure
development and urbanization.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- Construction companies face challenges in purchasing expensive
machinery like wheel loaders for short-term or small-scale projects
due to low ROI. The financial crisis of 2008 led to increased
renting of machinery as a cost-effective solution. Third-party
suppliers, such as MacAllister Machinery Co. Inc., United Rentals
Inc., American Equipment LLC, and RentalYard.com, offer wheel
loaders for rent. This trend may decrease new equipment sales and
impact vendors' revenue opportunities, potentially slowing down the
global wheel loaders market growth.
- The wheel loader market faces several challenges in the mining
and construction industries. Loaders must be able to handle a
variety of materials, including concrete and asphalt, in harsh
environments. The use of technology, such as automation and
telemetry, is crucial for increasing efficiency and productivity.
However, the high cost of these technologies can be a barrier for
some companies. Additionally, the need for sustainability and the
implementation of regulations, like emissions standards, add to the
complexity of the market. The customization of loaders to specific
applications is also a challenge, as is the need for continuous
maintenance to ensure longevity. Overall, the wheel loader market
requires a balance between technology, cost, and sustainability to
meet the demands of the mining and construction sectors.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This wheel loaders market report extensively covers market
segmentation by
- End-user
- 1.1 Construction
- 1.2 Agriculture
- Power Output
- 2.1 More than 80 HP
- 2.2 40 to 80 HP
- 2.3 Less than 40 HP
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Construction- The global construction industry is
experiencing significant growth due to increased government
spending on infrastructure. This expansion is observed in both the
residential and non-residential sectors. In the residential sector,
urbanization and the rising middle class population are driving
demand for new housing, leading to increased investments in real
estate. The non-residential sector is witnessing increased
investments in manufacturing, transportation, and telecommunication
sectors, particularly in APAC countries and emerging economies. The
manufacturing industry's growth is fueled by the emergence of new
consumer classes, while transportation and telecommunication
sectors require upgrades and improvements to meet the demands of
urbanization and changing demographics.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
Global Shipbuilding Market: The global shipbuilding market
continues to expand, driven by increasing demand for commercial
vessels and naval fleets worldwide. Key trends include
technological advancements in ship design and sustainability
efforts, influencing market dynamics and competition among industry
players.
Global Concrete Admixtures Market: The global concrete
admixtures market is experiencing robust growth, supported by
infrastructure development and urbanization trends. Innovations in
admixture formulations for enhancing concrete properties, such as
strength and durability, are shaping market growth. Key players are
focusing on sustainability and efficiency, responding to evolving
construction demands globally.
Research Analysis
The Wheel Loaders Market encompasses the global demand for
electric construction equipment specifically designed for various
industries, including construction, mining, forestry, and
infrastructure development. The adaptability and ease of mobility
of wheel loaders make them indispensable for construction
activities, enabling the efficient handling and transportation of
stockpiled materials such as rubble, pipes, and other heavy
machinery components. The market is driven by the increasing global
demand for sustainability and automation in the construction
sector, with telematics and loader types like skid steer loaders
and track loaders playing significant roles. The mining sector also
contributes to the market growth due to the heavy machinery
requirements in that industry.
Market Research Overview
The Wheel Loader market encompasses a broad range of heavy-duty
machinery used for moving and loading materials, primarily in
construction and mining industries. These machines are equipped
with large tires that allow them to maneuver over various terrains
with ease. Wheel loaders are versatile and can be used for various
applications, including loading and transporting materials such as
sand, gravel, and coal. The market for wheel loaders is driven by
factors such as increasing infrastructure development and
urbanization, growing mining activities, and the need for efficient
material handling solutions. The market is expected to grow
significantly in the coming years due to these factors and the
continuous advancements in technology leading to improved
productivity and efficiency.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Power Output
-
- More Than 80 HP
- 40 To 80 HP
- Less Than 40 HP
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio