BIG PERFORMANCE IN A SMALL PACKAGE
The versatility of skid-steer and compact track loaders are augmented by their sizes and manoeuvrability
According to a 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 $3.2 billion of revenue. In terms of volume, 134,517 skid steer loaders are projected to be sold globally.
The report indicates that high initial investment to own skid steer loaders is restricting its market growth. However, vendors are providing financing options to increase sales. This also results in the minimum impact on the budget of companies to own the equipment.
Despite slow growth in the skid-steer market during 2018, JCB has a positive outlook for its skid-steer loaders, with the introduction of enhanced safety features, particularly the single boom and side entry. Skid steers are an important product offering for JCB in the Middle East, representing 15–18% of the overall construction equipment market with an annual volume potential of 3000 machines. The main customers of these machines have been construction contractors and municipalities, and recently, JCB has seen increasing demand from the landscaping industry. One of JCB'S product innovations has been the Teleskid, the world’s only single boom telescopic skid steer and compact tracked loader launched a year ago.
Al-bahar, the exclusive Cat dealer in the Middle East estimates that skid-steer loaders with rated operating capacity (ROC) of 630–690kg, such as the Cat 216 and 226 models, and compact track loaders with ROC of 900kg and above, such as the Cat 239D model will see increasing demand in the UAE market in the next few years. In addition to the versatility of these machines, Cat skid- steer loaders and compact wheel loaders are built to operate under harsh conditions such as high temperature, dust, and humidity.
The company's product development strategy focuses on improvement in the maneuverability, operator comfort, visibility, fuel consumption, and total cost of ownership of the compact vehicles.
Al-bahar recommends investing in skidsteer and compact track loaders according to working conditions and the job requirements. Skid-steer loaders are suited to high mobility and solid underfoot conditions, and compact track loaders are more suitable machines for jobs that require low ground pressure and soft under foot conditions.
According to Future Market Insights, the global compact loaders market is estimated to be valued at nearly $9.6 billion in the year 2017 and is projected to reach a value of nearly $13.3 billion by 2027, registering a CAGR of 3.3% during 2017-27, the assessment period.
By product type, the compact track loaders segment is estimated to be valued at nearly
$2.8 billion in 2017 and is projected to reach a valuation of nearly $4.2 billion in 2027, registering a CAGR of 4.0% during the period of assessment. By application, the agriculture and forestry sub-segment is estimated to be valued at nearly $2.4 billion in 2017 and is projected to reach a value of nearly $ 3.2 billion in 2027, registering a CAGR of 3.1%.