Wheel Loaders Market size is set to grow by USD 22,746.09 million from 2022

Nov 03, 2023

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30 May, 2023, 11:45 ET

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NEW YORK, May 30, 2023 /PRNewswire/ -- The global wheel loaders market size is estimated to grow by USD 22,746.09 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 9.4%. The growth momentum will be progressing during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 32%. The construction segment will contribute a major share to the growth of the global wheel loaders market. Increasing construction activities in emerging economies, supported by increased government spending on infrastructure development, will drive the growth of the construction machinery market in the region. The construction market in the region is expected to grow steadily over the forecast period, creating a demand for new residential and commercial infrastructure for the growing urban population. Emerging economies in APAC are also experiencing significant growth in the residential and commercial construction sectors. Countries such as China, Japan, India, and Australia are among the biggest revenue contributors to the APAC market.

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What's New?

Wheel Loaders Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on End-user (Construction and Agriculture), Power Output (more than 80 HP, 40 to 80 HP, and less than 40 HP), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Wheel Loaders Market – Market Dynamics

Key factor driving market growthIncreasing investments in public infrastructure

Leading trend influencing the market

Rising adoption of compact and efficient wheel loaders -

· Wheel loaders with operating weights ranging from 5-7 tons are considered as compact wheel loaders. Compact wheel loaders are usually used for moving materials on construction and excavation sites and are equally at ease on roads. Compact wheel loaders are preferred over other equipment categories, particularly skid steer loaders and backhoes due to their advantages such as improved fuel efficiency, increased travel speed, and minimal ground disturbance. Owing to the rise in demand, many vendors in the market are focusing on launching new products such as the following:

Major challenge hindering the market growth

Growing rental equipment market

· Construction machinery such as wheel loaders are very expensive and require high initial investments. Therefore, for short-duration projects or small-scale projects, it is difficult for construction companies to buy them, owing to the low Return on Investment (ROI). The financial crisis of 2008 had a negative impact on construction companies, compelling them to adapt to the changing global economic scenario. To achieve flexibility and adapt to the prevailing economic conditions, construction companies started renting their machinery for a specific time based on their needs. By doing so, construction companies can save on the cost of buying the machinery as well as eliminate maintenance costs.

· Different types of construction machinery such as wheel loaders are widely available for rent at a moderate price. Some third-party suppliers such as MacAllister Machinery Co. Inc., United Rentals Inc., American Equipment LLC, and RentalYard.com provide wheel loaders on a rental basis. The increase in the availability of equipment on a rental basis may encourage small end-users to opt for such products. This will reduce the purchase of new equipment and have an adverse impact on the sales of new wheel loaders. Increasing competition from rental companies, therefore, could affect the market vendors' ability to attract and retain buyers and reduce their revenue opportunities, thus negatively affecting the growth of the global wheel loaders market during the forecast period.

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Wheel Loaders Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.4%

Market growth 2023-2027

USD 22,746.09 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.25

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 32%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

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 dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Power Output

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio 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 consists of more than 17,000 reports and counting, covering 800 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio