Lightweight Compact Wheel Loader Market is to Reach US$ 1.64 Billion by 2022, Growing At A 2.7 % CAGR Between 2022 to 2030 | Future Market Insights, Inc.
The sales of lightweight compact wheel loaders are projected to rise by 1.26x between 2022 and 2030. Europe currently leads the global lightweight compact wheel loader market, holding more than 40.4% of the total market share. India is estimated to emerge as a highly remunerative market in South Asia and Pacific.
NEWARK, Del., July 21, 2022 /PRNewswire/ -- According to a recent FMI survey, the global lightweight compact wheel loader market is expected to reach US$ 1.64 billion by 2022, with a 2.7 percent CAGR from 2022 to 2030.
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 p
referred 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.
The global lightweight compact wheel loader market is expected to reach US$ 2.03 billion by 2030, up from US$ 1.61 billion in 2021. The increasing introduction of novel lightweight compact wheel loaders with integrated advanced technologies such as telematics is expected to boost market growth.
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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.
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Global Lightweight Compact Wheel Loader: Market Participants
- Doosan Corporation
- Wacker Neuson SE
- Hitachi Construction Machinery Co. Ltd
- CNH Industrial N.V.
- Bobcat
- Volvo CE
- Liebherr
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.
Lightweight Compact Wheel Loader Market Taxonomy
Product
- Compact Track loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
Application
- Construction
- Agriculture & Forestry
- Industrial
- Utilities
- Facility/ Property management
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- MEA
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Lightweight Compact Wheel Loader Market Structure Analysis
The global lightweight compact wheel loaders market is highly competitive due to the presence of a large number of players. Doosan Corporation, Wacker Neuson SE, Hitachi Construction Machinery Co. Ltd, and CNH Industrial N.V., are Tier-I players involved in the global lightweight compact wheel loader market.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. FMI Analysis and Recommendations
1.5. Global Construction Equipment Industry Overview
1.6. What Market Participants are saying
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Advantages of Lightweight Compact Wheel Loaders
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
5. Global Lightweight Compact Wheel Loader Market Demand Analysis 2015-2021 and Forecast, 2022-2030
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