COMPACT LOADER MARKET PROJECTED TO REACH $13.3 BILLION BY 2027
The application of compact loaders in the construction sector is likely to capture a significant market share due to a rapid increase in the number of construction projects in various countries. Growth in the construction industry depends on a number of factors such as GDP growth, investment in real estate and emerging business models such as PPP, M&A activities and various other factors. Agriculture and forestry is the second largest application area of compact loaders during the period of assessment. The APEJ and North America regions are the hotspots of the compact loaders market and are driving the demand in this segment of agriculture and forestry. In addition, utilities and industrial applications of compact loaders are also expected to grow at a significant CAGR during the period of assessment.
To gauge the market of compact loaders all over the world, Future Market Insights presents a report titled ‘Compact Loaders Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’. This comprehensive report studies the performance of the global compact loaders market over a 10 year assessment period from 2017 to 2027. The report presents the value and volume forecast of the global compact loaders market and provides key insights into the factors driving market growth as well as the factors restricting the market growth. As per the estimates, 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 the assessment period.
The report segments the global compact loaders market on the basis of product type and application. On the basis of product type, the global compact loaders market is subsegmented into compact track loaders, skid steer loaders, backhoe loaders and wheeled loaders.
On the basis of application, the global compact loaders market is sub-segmented into construction, agriculture & forestry, industrial and utilities.
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% during the period of assessment.