The anticipated size of the compact wheel loader market in 2022 was USD 3,023.4 million and it is estimated to be USD 3,866.7 million in 2023. The scenario shows potential advancements in probabilities for the vendors working in the compact wheel loaders market.
The rise in the construction of residential and infrastructural development activities all over the world acts as one of the important factors that drive the growth of the compact wheel loaders market. According to Future Market Insights analysis, the compact wheel loader market is anticipated to expand at a CAGR of 5.04% between 2023 to 2033, totaling around USD 6,322.1 million by 2033.
Growing preference toward electric construction equipment and the introduction of advanced electric compact wheel loaders is expected to facilitate the growth in the market. Further, the demand in the global compact wheel loaders market is anticipated to top USD 6,644 billion, expanding at a CAGR of 3.3% during the forecast period from 2022 to 2029.
Regionally, Europe is estimated to emerge as the leading market, accounting for nearly 43.7% of the global demand share in 2022. Sales of compact wheel loaders are projected to account for more than 16% of the revenue share in the global automotive pumps market between 2023 to 2029.
Responsible factors for the variations are its great adaptability, compact size, ease of mobility, compatibility with different attachments, and high hauling capacity. Consequently, there is an increase in these automobile machines' demand in various end-use industries such as material management, construction, agriculture, and forestry industries.
Future Market Insights examines the dynamics and trends of the market for compact wheel loaders through comparison and review analysis. Also, in terms of key developments, manufacturers are mainly focused to improve the operator controllability and features of operation in machines by introducing the technology of intelligent assistant systems in wheel loaders
Electric compact wheel loaders are developed to reduce noise emission and it has absorbent glass matt (AGM) battery technology, which has low sensitivity in high or low outdoor temperatures which is accelerating the further market growth over the years to come.
Manufacturers are also focusing on quality, reliability, and durability, and high quality translates to fewer failures and downtime. Whereas, better reliability and durability help the customer to get an output of compact construction equipment for a long period.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2022) | USD 3,023.4 million |
| Projected Forecast Value (2023) | USD 3,866.7 million |
| Projected Forecast Value (2033) | USD 6,322.1 million |
| Growth rate | 5.04% CAGR |
| Forecast period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global compact wheel loaders market expanded at a CAGR of 4.2% between 2018 to 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 5.04% between 2023 to 2033.
The sales in the global compact wheel loaders market expanded at a CAGR of 2.3% between 2014 to 2021 over the past assessment period, finds Future Market Insights (FMI). The compact wheel loaders market is anticipated to create an absolute dollar opportunity of USD 5.27 by the end of 2022.
Compact wheel loaders are automotive machines used for a wide range of applications such as digging, loading and off-loading, material handling, landscaping, and waste management in congested areas. Further, the demand for these automotive machines is significantly increasing across material management, construction, agriculture, and forestry industries. The demand increase is owing to its high versatility, compact size, easy maneuverability, multiple attachment compatibility, and high hauling capacity.
Growth in Population with Surge in Demand for Food Products
Governments in several countries are focusing on undertaking numerous initiatives for mechanizing agricultural operations to increase productivity with a growing population and surging demand for food products. For instance,
Leading players are introducing novel products designed for agriculture operations to capitalize on such opportunities. For instance,
This loader is specially designed for agriculture applications. Hence, a slew of such initiatives and developments are estimated to bolster the growth in the market over the coming years.
Principal Consultant
Flourishing Residential Construction and Infrastructural Development Activities
Burgeoning residential construction and infrastructure development activities is being witnessed worldwide, owing to the growing trend of urbanization. Moreover, increasing construction activities across emerging economies are fueling the demand for compact and high-performance machinery such as compact wheel loaders. Citing this trend, key manufacturers in the market are launching new compact wheel loaders integrated with advanced technologies and features to capitalize on existing opportunities. For instance,
A multiplicity of such product launches are estimated to accelerate the sales of compact wheel loaders at 3.3% CAGR between 2022 to 2029.
Rising Sustainable Infrastructure Development Activities to Bolster the Sales of Compact Articulated Loaders
Future Market Insights states that China is anticipated to emerge as a highly significant market, with sales in East Asia contributing 13.9% of compact wheel loaders demand by 2022.
India is expanding at a CAGR of 6.66% and is increasingly focusing on launching sustainable infrastructure development projects, owing to the growing environmental sustainability concerns.
Compact articulated loaders are extensively used for applications such as material handling, loading and off-loading materials, and digging across construction sites. The rising number of such construction projects is estimated to facilitate growth in the market.
Introduction of Novel Electric Compact Wheel Loader to Boost the Market
Germany holds a market share of 33% and is anticipated to account for a significant share of Europe’s compact wheel loaders market with a value share of 36.2%.
The trend of electrification is creating deep inroads in the automotive sector, owing to the rising fuel prices and growing concerns about carbon emissions. By this, leading companies in China are introducing electric compact wheel loaders in the country. For instance,
The new electric range offers zero exhaust emission, lesser energy cost, high efficiency, and lower noise pollution compared to their conventional counterparts.
Rising Large-scale Construction Activities to Elevate the Sales of Mini Articulated Loaders
The United States with a value share of 42.2% exhibited the dominant growth in North America’s compact wheel loaders market in 2022 with a market share of 45.3%, states FMI.
Demand for advanced assistive automotive machinery is notably increasing owing to the expansion of large-scale construction projects across the United States. For instance,
The growing development of the rental construction equipment and machinery market is estimated to accelerate the sales of mini articulated loaders in the United States.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Increasing Application of Small Wheel Loaders to Augment the Demand
The compact track loader segment is expected to account for a significant share over the forecast period with a market share of 54.9%. In addition, the growing application of compact track loaders such as small wheel loaders due to their high lifting ability, better maneuverability, and multiple attachments compatibility is propelling the demand for small wheel loaders in the segment.
Burgeoning Demand for Mini Wheel Loaders Amid Rising Construction Activities to Boost Sales
The global compact wheel loader market is segmented into construction, agriculture and forestry, industrial, and utilities with a market share of 67.9%. FMI states that the construction segment is estimated to remain the foremost application, accounting for a significant revenue share.
Demand for mini wheel loaders is increasing amid surging construction and landscaping activities across the United States, China, India, and GCC countries. This is expected to propel the sales of mini-wheel loaders, aiding the growth in the segment.
Leading players operating in the global market are-
Important Developments of the Key Players in the Market
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.04% from 2023 to 2033 |
| Market value in 2023 | USD 3,866.7 million |
| Market value in 2033 | USD 6,322.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Product, By Application, By Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Komatsu Ltd.; Caterpillar Inc.; Wacker Neuson Group; Deere & Company; KUBOTA Corporation; CNH Industrial N.V.; Xuzhou Construction Machinery Group Co. Ltd.; Hitachi Construction Machinery Co. Ltd.; Volvo Construction Equipment; Yanmar Holding Co. Ltd.; Doosan Corporation; Liebherr Group; Takeuchi Mfg. Co. Ltd.; Avant Tecno Oy; TOBROCO-GIANT; MECALAC; Schäffer Maschinenfabrik GmbH |
| Customisation Scope | Available on Request |
A CAGR of 5.04% is forecast for the market between 2023 and 2033.
From 2023 to 2029, compact wheel loaders will account for 16% of the market.
Market growth of 2.3% was observed from 2014-2021.
Construction activities are expected to increase in the coming years.
Rising fuel prices and concerns over carbon emissions to drive the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Compact Track Loaders 5.2. Skid Steer Loaders 5.3. Backhoe Loaders 5.4. Wheeled Loaders 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Construction 6.2. Agriculture & Forestry 6.3. Industrial 6.4. Utilities 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Komatsu Ltd. 17.2. Wacker Neuson Group 17.3. Deere & Company 17.4. KUBOTA Corporation 17.5. CNH Industrial N.V. 17.6. Xuzhou Construction Machinery Group Co. Ltd. 17.7. Hitachi Construction Machinery Co. Ltd. 17.8. Volvo Construction Equipment 17.9. Yanmar Holding Co. Ltd. 17.10. Doosan Corporation 17.11. Liebherr Group 17.12. Takeuchi Mfg. Co. Ltd. 17.13. Avant Tecno Oy 17.14. TOBROCO-GIANT 17.15. MECALAC 17.16. Schäffer Maschinenfabrik GmbH 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Automotive Insights
View Reports
Compact Wheel Loaders Market
