Global Skid Steer Loader Market Size Projected to Increase
Sunday, January 13th, 2019 -- 7:43 AM
(Wisconsin Ag Connection) -The global skid steer loader market size is projected to reach $3.16 billion by 2025 and exhibit a CAGR of 3.3% from 2017 to 2025.This can be attributed to growing importance of and need for landscaping applications, which has compelled manufacturers to develop and launch various attachments such as brush cutters, mulchers, heavy-duty mowers, and forestry units. Wheeled skid steer loaders led the market in 2017 and accounted for a share of 65.3% in the overall revenue. The segment is expected to maintain its dominance over the forecast period owing to its high visibility and penetration, widespread usage in hard and rough surfaces such as concrete and lawns, and growing preference for the product to carry out speedy work.
In 2017, the construction sector held a 51.5% share in the overall revenue. Loaders are gaining significant traction in the construction industry owing to their compact design, new attachments, and improved load carrying capacity. In addition, these products are used for cleaning dirt, loading and unloading of construction materials, and maintaining and grading of land.
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