Skid steer loaders are used to perform various tasks at construction and mining sites. One of the major driving factors in the market is versatility of skid steer loaders. These loaders can be fitted with attachments like backhoe, angle broom, in order to perform various tasks such as trenching, breaking concrete, vertical lifting, digging, etc. manufacturers of skid steer loaders are also focusing on modifying design of skid steer on the basis of feedback from contractors, rental businesses, and dealers. Increasing operator comfort, providing larger skid steer loaders, providing high lift capability, and offering units with vertical-lift are some of the focus areas in the development of skid steer loaders.
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High initial investment to own skid steer loaders is restricting the market growth. However, vendors are providing financing options to increase the sale. This also results in the minimum impact on the budget of companies to own the equipment.
According to the market research report compiled by Fact.MR, the global skid steer loader market is expected to witness sluggish growth, growing at a CAGR of 3.1% in terms of value. By the end of 2026, the market is also projected to bring in US$ 3,273.3 million revenue. While in terms of volume, 134,517 skid steer loaders are projected to be sold in the global skid steer loader market. Following are few insights on how the global skid steer loader market will perform in the coming years.
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Segmentation of Skid Steer Loader Market
- Up to 2000 lbs
- 2000 to 3000 lbs
- Above 3000 lbs
- Up to 65 hp
- 66 to 80 hp
- Above 80 hp
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- Agriculture and Forestry
- Ground Maintenance
- North America
- Latin America
- East Asia
- South Asia
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The report has also profiled key players in the global market for skid steer loader, which will operate in the market through 2026. These companies are Caterpillar Inc., Deere & Co., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Volvo Construction Equipment and Services, Inc., Doosan Bobcat Inc., Yanmar Co., Ltd., CNH Industrial N.V., JCB, Inc., Kubota Corporation, Hyundai Heavy Industries Co., Ltd., Wacker Neuson SE, XCMG, Guangxi Liugong Machinery Co., Ltd., B E M L Ltd, Kato Works Co., Ltd., Sany Group Co. Ltd., Takeuchi Construction Machinery, and Zhejiang Hero Time Machinery Co., Ltd.
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