The global loaders market is expected to grow at a CAGR of 7.07% to reach US$54.365 billion by 2024, from US$36.075 billion in 2018. Loaders are one of the major machines used in the building and construction industry for a wide range of applications including loading and transferring construction materials, digging, clearing debris, among other things. The demand for loaders is estimated to increase due to the rapid rise of investment in the construction industry in emerging developing economies Additionally, the budding number of construction orders for commercial and residential buildings in the already established regions to nurture the economic growth will enhance the growing demand for the loaders market. The soaring investment put into the research and development to develop and promote leading-edge equipment and will augment the company’s profitability and the demand for loaders over the next five years.
By end user segment, the loader market is segmented as residential, commercial and industrial. The worldwide structure of loaders market is emerging at a remarkable speed because of amplified investment in the industrial sector specifically in the oil and gas industry as well as in the mining industry. The demand for this equipment in the mining industry is assessed to have a significant increase owing to the flourishing demand for base metals from the manufacturing industry.
By geography, the loaders market is portioned as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The Asia Pacific is projected to increase in the demand of loaders as various economies are in the phase of accelerated development and multiple governments are expanding investments vigorously across industry verticals for their infrastructural development. The rising number of SMEs due to the implementation of favorable government policies will be one of the major factors responsible for improving the demand for loaders in the developed regions of the world such as North America and Europe.
Major industry players profiled as part of the report are Deere & Company, Doosan Infracore, Caterpillar, Komatsu Ltd., Volvo Construction Equipment, Hitachi Construction Equipment, Liebherr-International Deutschland GmbH, and Terex Corporation among others.
The loaders market has been analyzed through the following segments:
By End User
Middle East and Africa