Market Highlights
The global loader market is projected to record a CAGR of 4.9% during the forecast period. A loader is a large machine designed for carrying loads. A loader may be self-propelled or propelled by a tractor. The loader is attached to the tractor by a three-point hitch. Loaders are constructed in a front loader or a backhoe loader. A front loader is a bucket or scoop on the front of the machine. A backhoe loader has an arm-like device that moves in the same manner as a backhoe.
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Due to the COVID-19 outbreak, a lot of people have lost their jobs, and production has been disrupted, reducing supply chains and the market price. The loader market got badly affected due to the closedown of various industries and construction work. There was various restriction imposed by the government on various industries that have led to the decrease in the demand for the loader.
There was a decrease in the loader market at the beginning of the year 2020. As soon as the lockdown was eased the demand started to increase. The market got slightly affected by the pandemic due to the strict lockdown and restrictions imposed by the government but is expected to recover from it.
Segmental Analysis
The global loader market growth has been segmented based on loader type, payload capacity, application, and region.
By loader type, the global loader market has been segmented into skid steer, backhoe, wheeled, crawl/track, and mini loaders. The wheeled loader segment is anticipated to be the fastest growing segment in the global loader market. The growth of the wheeled loader segment can be attributed to the increase in construction activities and the growth of the residential market. The growing demand for wheeled loaders in residential construction activities and the increasing need for transportation of building materials and equipment in the construction industry to and fro the construction site are driving the wheeled loader market. The increasing need to improve the productivity of the existing construction equipment and the growth of construction activities in emerging countries is also driving the wheeled loader market.
By payload capacity, the global loader market has been segmented into 3-5 tons, 6-10 tons, 11-15 tons, and 15 tons and above. The 11-15 tons segment is expected to be the fastest-growing in the global loader market during the forecast period. This is due to a huge number of infrastructure projects in Asia-Pacific countries that requires the use of loaders. These loaders are mainly used for construction activities. Other major factors driving the growth of this market are the increasing urbanization, industrialization, and the need for specialized loaders.
Based on the application, the global loader market has been segmented based on mining, construction, waste management, and others such as landscaping, agriculture. The construction segment is expected to be the largest in the global loader market. This can be attributed to the growth in the construction industry in developing countries and rising demand for loaders from the construction industry in these countries.
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Regional Analysis
Geographically, the global loader market has been categorized as North America, Europe, Asia-Pacific, and Rest o fthe World. North America is expected to hold a significant market share of the global loader market, owing to the high demand for large equipment such as excavators, loaders, dump trucks, and bulldozers in construction, mining, and infrastructure development activities. The drivers of the loader market are the increasing mining activities, and growing infrastructure development activities.
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Key Players:
Market Research Future has recognized the following companies as the key players in the global Loader Market AB Volvo, Caterpillar Inc., Komatsu Ltd, Doosan Infracore Co. Ltd, Hitachi Construction Machinery Co. Ltd, J.C. Bamford Excavators Limited, Liebherr Group, CNH Industrial N.V, Hyundai Heavy Industries Co. Ltd, and Terex Corporation among others.
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