The resurgence in the construction sector is a key factor for the growth of the compact loaders market
Albany, NY -- (SBWIRE) -- 06/01/2018 -- A new research study titled, "Compact Loaders Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)" has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report, the global compact loaders market is likely to grow at a volume CAGR of nearly 2.8% during the assessment period 2017-2027. In terms of volume, nearly 196,000 units of compact loaders were sold in 2017, and it is likely that this number will surpass 256,000 units by the end of the forecast period.
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The resurgence in the construction sector is a key factor for the growth of the compact loaders market. Many countries around the world are focusing on boosting their construction infrastructure, and this has created growth opportunities to compact loaders industry. The opportunities are more pronounced in the regions of North America and Middle East, as these two regions have a massive focus on developing their existing infrastructure.
According to the report, the spate of construction activities in the US after the Surface Transport Reauthorization Bill, which was worth US$ 476 Mn, has led to significant opportunities for compact loader players. These opportunities are likely to provide an impetus to growth of the market during the assessment period. The increasing focus on transforming the economy of Middle East from oil-based to service based is also likely to create significant opportunities to manufacturers. According to the research study, many governments in the Middle East are focusing on boosting their infrastructure activities, which is likely to provide an impetus to growth.
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In addition to North America and the Middle East, growth of the market will also be supplemented by the increasing pace of construction activities in Asia Pacific excluding Japan (APEJ). China and India – two of the fastest growing economies in the world – are investing heavily in construction projects, which has led to increased demand for a wide range of construction equipment, including but not limited to compact loaders. These factors are likely to provide an impetus to the growth of the market during the assessment period.
The research study also includes a detailed analysis on the key stakeholders in the market. According to the study, leading players in the market are focusing on expanding into markets where construction activities are growing at a brisk pace. Some of the key players identified in the research study include Volvo Construction Equipment, Yanmar Holdings Co. Ltd, Hitachi Construction Machinery, Caterpillar, Doosan Bobcat, Inc., Deere & Company, Komatsu, JCB, Inc, Kubota Corp., and Case Construction Equipment.
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