Efficiency in Motion: Lightweight Compact Wheel Loader Market Expected to Reach US$ 2.03 Billion by 2030 with a Steady CAGR of 2.7%

The global lightweight compact wheel loader market is estimated to expand at a sluggish pace, reaching the valuation of US$ 2.03 Billion 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.

The global lightweight compact wheel loader market is estimated to reach US$ 2.03 Billion by 2030 in comparison to US$ 1.61 Billion 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 Billion by 2022, exhibiting growth at 2.7% CAGR over the forecast period 2022-2030.

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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

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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.

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