May 16, 2023

Compact Wheel Loaders Global Market Report 2023

Major players in the compact wheel loaders market are Caterpillar Inc., Deere, Hitachi Construction Machinery Co Ltd., Komatsu Ltd., Volvo AB, CNH Industrial N.V., Yanmar Holdings Co Ltd., JCB Inc., Kubota Corporation, Case Construction, Larsen & Toubro Limited, Holland Construction, Wacker Neuson Group, Sany Heavy Industry Co.

New York, March 21, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Compact Wheel Loaders Global Market Report 2023" - Ltd., and Liugong Machinery Co Ltd.The global compact wheel loaders market grew from $5.14 billion in 2022 to $5.36 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The compact wheel loaders market is expected to grow to $6.13 billion in 2027 at a CAGR of 3.4%.The compact wheel loaders market consists of sales of buckets, forks, couplers, lifting jibs, rakes, pushers, shovels, augers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Compact wheel loaders are machinery that is used to perform tasks of digging, stockpiling, and materials collecting, transporting, and sorting in different industries.It has a bucket-equipped arm that can drag, scoop, or transport items and move them around.They are the multifunctional machinery of any fleet, capable of performing various tasks.Asia-Pacific was the largest region in the compact wheel loaders market in 2022. The regions covered in the compact wheel loaders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main of types of products in compact wheel loaders market are compact track loaders, skid steer loaders, backhoe loaders, and wheeled loaders.Compact track loaders are small tracked vehicles that are used for digging and loading material in various locations.A compact track loader is ideal for operating on soft ground or on projects that require little ground disturbance. It has different operating weights such as less than 6000 kg and more than 6000 kg that are used in construction, ground maintenance, landscaping, mining, forestry and agriculture, and other applications.The expansion of the construction industry is expected to propel the growth of the compact wheel loaders market going forward.The construction industry refers to an industrial branch of manufacturing and trade-related operations that includes infrastructure development, repair, renovation, and maintenance.Construction activities have been on the rise due to rapid industrialization and urbanization.A compact wheel loader makes construction operations safer and more efficient in various applications due to its versatility, which in return reduces operating costs.For instance, in June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in 2020. Furthermore, according to the 2022 U.S. Construction Cost Trends report, in the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the expansion of the construction industry is driving the compact wheel loaders market.Product innovations have emerged as a key trend gaining popularity in the compact wheel loaders market.Major companies operating in the compact wheel loaders market are focused on introducing innovative products to reinforce their position.For instance, in May 2022, Caterpillar, a US-based construction machinery and equipment company, launched next-generation Cat 906, 907, and 908 compact wheel loaders.The new wheel loader models feature a re-engineered operator's station that leverages exclusive Cat technologies to improve the operator experience.Controls mounted on the seat improve the ergonomics of the new loaders. With a multifunction joystick, operators can control travel direction, speed, proportional auxiliary flow, differential lock, and constant hydraulic flow without removing their hands.In August 2021, Hyundai Heavy Industries Holdings (HHIH) Co, a South Korea-based shipbuilding engine and machinery manufacturer, acquired Doosan Infracore for an undisclosed amount.Through this acquisition, HHIH aims to expand its operations in the construction industry along with increasing investments in technology and innovation.Doosan Infracore is a South Korea-based construction equipment and compact wheel loader manufacturer.The countries covered in the compact wheel loaders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The compact wheel loaders market research report is one of a series of new reports that provides compact wheel loaders market statistics, including compact wheel loaders industry global market size, regional shares, competitors with a compact wheel loaders market share, detailed compact wheel loaders market segments, market trends and opportunities, and any further data you may need to thrive in the compact wheel loaders industry. This compact wheel loaders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________