The global lightweight compact wheel loader market is estimated to expand at a sluggish pace, reaching the valuation of US$ 2.03 Bn in 2030. Lightweight compact wheel loaders are emerging as preferred equipment on job sites for many projects, a regular-sized wheel loader may be very large for the worksite. In these cases, lightweight compact wheel loaders offer the perfect option of size, power, and capabilities.
[200 Pages Report] The global lightweight compact wheel loader market is estimated to reach US$ 2.03 Bn by 2030 in comparison to US$ 1.61 Bn registered in 2021. Increasing introduction of novel lightweight compact wheel loaders with integrated advanced technologies such as telematics is expected to favor the growth in the market.
As per the recent survey by FMI, sales in the global lightweight compact wheel loader market are projected to total US$ 1.64 Bn by 2022, exhibiting growth at 2.7% CAGR over the forecast period 2022-2030.
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Key Takeaways of Lightweight Compact Wheel Loader Market Study
- Remote-controlled lightweight compact wheel loaders are the most recent development in the compact wheel loaders market. Remote controlled compact wheel loaders remove the human element from the production face to avoid accidents. Further, they increase an operator’s quality of life, as the person is working in an office environment instead of underground.
- In the global lightweight compact wheel loader market, compact track loader is expected to hold approximately a third of market share.
- Renting a wheel loader has been identified as a new trend in the global market. Skid steer loaders and compact track loaders are gaining attention in the rental market.
- Manufacturers are offering lightweight compact wheel loader with advanced features and functionality, designed specifically for the rental market to meet user demand for improved operator environment, control, and comfort.
The COVID-19 or coronavirus pandemic has affected a majority of the countries in Europe and Asia, with North America expected to follow soon. The pandemic is causing shutdowns of industrial and commercial activities, drastically hampering the global economy. Long-term supply contracts of the lightweight compact wheel loaders are affected. Recovery will be gradual.
Market Landscape Moving Towards Consolidation
The lightweight compact wheel loader market is expected to dominate by tier-I manufacturers. Tier-I players are focusing on the expansion of their footprints by increasing distribution channels in various regions and establishing manufacturing units. Some prominent players involved in the global lightweight compact wheel loader market are shifting their focus on technological development, product development, and acquisition.
For instance, in 2019, CNH Industrial N.V. developed a new compact wheel loaders with electrohydraulic controls. With more than 20 electrohydraulic actuators and 20 sensors installed on the machine, this technology improves operator controllability and provides an option to select different operating modes.
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LIGHTWEIGHT COMPACT WHEEL LOADER MARKET TAXONOMY
- Compact Track loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
- Agriculture & Forestry
- Facility/ Property management
- North America
- Latin America
- East Asia
- South Asia & Pacific
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LIGHTWEIGHT COMPACT WHEEL LOADER MARKET STRUCTURE ANALYSIS
The global lightweight compact wheel loaders market is highly competitive due to presence of large number of players. Doosan Corporation, Wacker Neuson SE, Hitachi Construction Machinery Co. Ltd, CNH Industrial N.V., are Tier-I players involved the global lightweight compact wheel loader market.
Automotive Pump Market : The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on automotive pump market has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031).
Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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