Growing urban infrastructure development in Germany is driving demand for versatile lightweight compact wheel loaders, prompting leading players to introduce innovative models with advanced technologies. Similarly, in the United States, manufacturers are focusing on launching multifunctional compact wheel loaders equipped with advanced features to meet the rising demand across diverse applications.
NEWARK, Del, Nov. 16, 2023 (GLOBE NEWSWIRE) — The global lightweight compact wheel loader market in 2022 was US$ 12.2 billion and is estimated to be US$ 13.53 billion in 2023. Future Market Insights has mentioned in its reports that the lightweight compact wheel loader market will expand at a CAGR of 8.4% between 2023 and 2033, totaling around US$ 30.3 billion by 2033.
The usage of lightweight compact wheel loaders is available in a wide range of industrial applications like loading and off-loading, landscaping, and waste management in congested areas helps accelerate the growth of the market.
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The increase in demand for such automotive machines across construction has easy maneuverability, and high hauling capacity influencing the market., where forestry industries, material management, and agriculture, arise due to the compact size, multiple attachment compatibility, and high versatility.
Key Takeaways from the Market Study
- The global lightweight compact wheel loader market grew at a CAGR of 7.9% between 2017 and 2022
- North America’s lightweight compact wheel loader market is expected to hold 28.3% of the total market.
- The United States considerably holds a value share of 18.1%.
- India is expected to emerge as a lucrative pocket over the assessment period with a market share of 15.2%.
- Germany holds a market share of 20.2% of the market region.
- Under product type, growing demand for compact truck loaders in the lightweight compact wheel loader market holds a market share of 62.3%.
- Under application type, the construction industry has a market value of 41%.
“Extensive emphasis on the construction of massive infrastructure projects is considered one of the massive infrastructure projects favoring lightweight compact wheel loader market growth” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competition Landscape
Leading players in the global lightweight compact wheel loader market are focusing on the development and launch of novel products integrated with innovative technologies to gain a competitive edge. Others are aiming at mergers, collaborations, and acquisitions with other players to expand their product portfolio.
Some of the prominent players in the global market are-
- Doosan Corporation
- Wacker Neuson SE
- Hitachi Construction Machinery Co. Ltd
- CNH Industrial N.V.
- Bobcat
- Volvo CE
- Liebherr
- BF-TECNIC SRB DOO
- Ensign Heavy Industries Co., Ltd.
- Schäffer Maschinenfabrik GmbH
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For instance
- In May 2023, the entire lineup of Volvo cars in the United States has conveyed that it will consist of mild hybrid, hybrid, or electric vehicles equipped with Google built-in, announced by Volvo Car of the United States of America.
- In March 2023, Doosan Bobcat, Inc. is highlighting the future of its material handling equipment lineup at ProMat 2023 in Chicago.
The Doosan Industrial Vehicle (DIV) booth will showcase a number of current forklift model families, and the space will also highlight its future branding with multiple machines displayed in Bobcat trade dress. Doosan Bobcat announced its Doosan Industrial Vehicle, Doosan Portable Power and Doosan Industrial Air brands would transition to become part of the Bobcat product portfolio.
Report Scope
| Report Attributes | Details |
| Growth Rate | CAGR of 8.4% from 2023 to 2033 |
| Market value in 2023 | US$ 13.53 billion |
| Market value in 2033 | US$ 30.3 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | US$ billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Key Countries Profiled |
|
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Lightweight Compact Wheel Loader Market by Category
By Product:
- Compact Track loaders
- Skid Steer Loaders
- Backhoe Loaders
- Wheeled Loaders
By Application:
- Construction
- Agriculture & Forestry
- Industrial
- Utilities
- Facility/ Property management
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
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