PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148024
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1148024
Wheel Loader Market size was valued at USD 11,008.7 Million in 2021, expanding at a CAGR of 3.9% from 2022 to 2028.
A wheel loader is made up of a cab, an engine compartment, and a transmission at the back end, as well as an articulated main frame that supports a front-end attachment. Wheel loaders are by nature quite adaptable in scrap applications. They can be used to transport tools like shovel buckets, forklift tines, or grapples.
Market Dynamics:
The development of the transportation infrastructure and large-scale construction projects, among other activities, has been driving the market's overall growth. For instance, according to the INDIA BRAND EQUITY FOUNDATION, India plans to spend US$ 1.4 trillion on infrastructure through the 'National Infrastructure Pipeline' in the next five years. In 2021, the infrastructure segment captured more than 13% share of the total FDI inflows of USD 82 billion. Thus, these type of projects is expected to penetrate the growth of the market. Another factor influencing the market's development is the introduction of new products by the major players. For example, Caterpillar introduced the 920K compact wheel loader in June 2019 with high tipping loads, improved stability, and a clever power-management system.
However, the expensive price of wheel loaders and the substantial upfront investment will pull back the industry growth. Additionally, as many regional governments have been adopting various measures to promote clean energy due to high environmental concerns, technical advancements like the electrification of wheel loaders could generate significant potential in the upcoming years.
Segmental Analysis:
The market is divided into four categories based on operational weight: <20000 kg, 20000-40000 kg, 40000-60000 kg, and >60000 kg. Due to the growing use of 20,000 kg wheel loaders for road construction, waste management, earthmoving, agriculture, and many other applications, the <20,000 kg segment had the biggest market share in 2021.
The wheel loader market is divided into public infrastructure, forestry and agriculture, mining, and others based on application. Due to the significant number of smart city projects underway around the world in 2021, the public infrastructure sector held the major market share for wheel loaders.
Geography: Segment Analysis
The market was dominated by the Asia Pacific, which is also expected to develop at the quickest rate over the forecast period. Rising infrastructure projects and building activity in developing nations like China and India are responsible for the development. The demand for construction equipment like loaders is being driven by infrastructure investments undertaken by these nations.
Competitive Landscape:
The market for a wheel loader is fragmented, with many national and international competitors including Deere & Company, AB Volvo, Caterpillar, Action Construction Equipment Ltd., and LIEBHERR. The leading wheel loader manufacturing companies are forming joint ventures and partnerships to introduce newer products to gain an advantage over their rivals. For instance, in June 2021, The Dutch ULBO Machinery BV is acquired by TOBROCO-GIANT, the company that makes GIANT wheel loaders, skid steer loaders, telehandlers, and attachments. The targeted acquisition aligns with TOBROCO-goal GIANT's of becoming a market leader in compact equipment.
Key features of the study:
This proposed research study on the Wheel Loader market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Wheel Loader market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Wheel Loader market
The impact of COVID-19 on the Wheel Loader market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Wheel Loader market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Wheel Loader market, we have also included a competitive landscape and key innovator analysis for the Wheel Loader market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Wheel Loader market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Wheel Loader market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL WHEEL LOADER MARKET KEY PLAYERS
Deere & Company
AB Volvo
Caterpillar
CNH Industrial N.V.
Hitachi Construction Machinery Co., Ltd.
Komatsu Ltd.
JCB
Hyundai Doosan Infracore
Liugong Machinery Co., Ltd.
LARSEN & TOUBRO LIMITED
SDLG
LIEBHERR
Oriemac
SANY Group
Action Construction Equipment Ltd.
GLOBAL WHEEL LOADER MARKET, BY OPERATING WEIGHT
<20000 kg
20000-40000 kg
40000-60000 kg
>60000 kg
GLOBAL WHEEL LOADER MARKET, BY APPLICATION
Public Infrastructure
Forestry and Agriculture
Mining
Others
GLOBAL WHEEL LOADER MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA