The Loader Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Loader Global Market Report 2024, The loader market size has grown steadily in recent years. It will grow from $23.33 billion in 2023 to $24.46 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to growth in construction industry, mining sector expansion, waste management needs, port and dock operations, efficiency and productivity, increased use in forestry operations..
The loader market size is expected to see steady growth in the next few years. It will grow to $29.3 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to renewable energy projects, focus on sustainability, global urban development, rise in demolition activities, focus on operator comfort and safety, human factors engineering.. Major trends in the forecast period include adoption of compact loaders, technological advancements in loader design, electric and hybrid loaders, telematics and iot integration, autonomous and semi-autonomous loaders, remote operation and control systems..
The rising concept of green building is expected to drive the growth of the loader market during the forecasting period. The green building refers to a building that requires less energy, water, and other resources that possibly impact the environment by protecting natural resources and improving the quality of life. Green building construction requires loaders to lift and move materials, enabling speedy construction. For instance, in June 2021, according to a USA-based building design and construction media and technology design platform company, 40% of all energy is consumed worldwide, and it is predicted that by 2030, emissions from commercial buildings will increase by 1.8%. There were 124,200 LEED-certified buildings in the USA. These LEED-certified buildings emit little carbon and save energy. Therefore, the rising green building concept is anticipated to bolster loader market growth in the upcoming years.
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The loader market covered in this report is segmented –
1) By Product Type: Backhoe, Skid Steer, Crawler, Wheeled
2) By Engine Type: Upto 250 HP, 250-500 HP, More than 500 HP
3) By Payload Capacity: 3-5 Tons, 6-10 Tons, 11-15 Tons, 15 Tons and Above
4) By Application: Mining, Construction, Waste Management, Other Applications
Product innovations are a key trend gaining popularity in the loader market. Major market players operating in the loader market are concentrating their efforts on creating innovative products to reduce carbon emissions and fuel consumption. For instance, in November 2021, Greenland Technologies Holding Corporation, a US-based company specializing in the development and manufacturing of electrical industrial vehicles, launched the GEL-1800 electric loader. This electric loader is able to reduce operating emissions and environmental pollution by reducing the use of fuel. An eco-friendly 141 KWh lithium battery powers Greenland’s new GEL-1800 Electric Loader. The GEL-1800 promises a quick two-hour charge and nine hours of use per charge. With its clean and sustainable power, zero operational emissions, 60% reduced operating noise, and lower maintenance costs as compared to diesel internal combustion vehicles, the GEL-1800 addresses some of the most pressing concerns facing contemporary site managers.
The loader market report table of contents includes:
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