Wheel Loaders Market size is set to grow by USD 25.85 billion from 2024-2028, Increasing investments in public infrastructure boost the market, Technavio

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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              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


                                                         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.,

     Key companies profiled                               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.

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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.

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Segment Overview

This wheel loaders market report extensively covers market segmentation by

    1. End-user
        --  1.1 Construction
        --  1.2 Agriculture
    2. Power Output
        --  2.1 More than 80 HP
        --  2.2 40 to 80 HP
        --  2.3 Less than 40 HP
    3. 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.

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Learn and explore more about Technavio's in-depth research reports

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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
        --  Construction
        --  Agriculture
    --  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 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.

Contacts

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Email: media@technavio.com
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SOURCE Technavio