February 17, 2021
According to the research report titled ‘North America Skid Steer and Compact Loader Market Analysis, 2020’, available with Market Study Report LLC, North America skid steer and compact loader market is anticipated to witness a y-o-y growth rate of 9.5% between 2020 and 2025.
Growing demand for advanced transportation, electricity, and housing infrastructure coupled with increasing mining and construction activities are some of the primary growth stimulants of North America skid steer and compact loader market. Surging investments towards infrastructural development and rising number of R&D activities are also propelling the market expansion.
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The application landscape of the overall market consists of agriculture, construction, and others.
As per type, North America skid steer and compact loader industry is segmented into compact loader and skid steer. The report states that compact track loader segment accounts for the largest market share and is expected to grow consistently during the estimated timeframe. Compact loaders are used for various applications such as mining, construction, and agriculture.
In terms of operational capacity, the market is fragmented into up to 2000 lbs and 2700 lbs as well as 2001 to 2700 lbs. Moving on to engine power segmentation, the market is classified into above 80 HP, 65-80 HP, and up to 65 HP.
The country-level fragmentation of North America skid steer and compact loader industry consists of Mexico, Canada, and the United States. The report cites that United States accounted for 80% market share in the year 2019 and is likely to continue with its dominance in the upcoming years.
On the other hand, Canada and Mexico are also predicted to emerge as key revenue generators for the overall market, owing to rising mining activities in the two countries.
Doosan Corporation, Komatsu Ltd., Kubota Corporation, Kobelco, Hitachi Ltd., Deere & Company, The Volvo Group, ASV Holdings Inc., Caterpillar Inc., and Bobcat Company are the key competitors in North America skid steer and compact loader market.