New York, NY -- (SBWIRE) -- 02/25/2020 -- Wheel Loaders Market by Application (Public Infrastructure, Forestry and Agriculture, and Mining), Operating Weight (<20000 kg, 20000-40000 kg, 40000-60000 kg, and >60000 kg) - Analysis & Forecast 2019-2030. The global wheel loaders market valued US$ 15.24 billion in 2018. It is anticipated to grow at a CAGR of 4.69% from 2019 to 2030.

Wheel loader is considered as one of the important equipment's in the construction activities due to its advantages such as high weight loading capacity, and proper material handling. Thereby, new mega construction projects are likely to drive the wheel loader market globally. For instance, in Saudi Arabia, Jubail II is a 22-year-long industrial city project having more than US$ 11 billion investment. In United Kingdom, London Crossrail is the first underground train construction project with approximately US$ 23 billion investment. Increasing number of mega construction projects have been supplementing the overall growth of the market as wheel loaders are highly used in construction activities.

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Major Players in the Wheel Loader Market

The prominent players present in the global wheel loader market are Caterpillar, AB Volvo, Deere & Company, CNH Industrial N.V., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., J C Bamford Excavators Ltd., Doosan Infracore, Larsen & Toubro Limited., Liugong Machinery Co., Ltd. and among others.

High demand of wheel loaders from new mega construction projects and transport infrastructure is driving the overall growth of the market. Moreover, the rising demand from mining and quarrying application is anticipated to further contribute to the market growth. Key players have been taking several initiatives to expand and mark a strong presence in the competitive market. For instance, Hitachi Construction Machinery Co., Ltd has signed an agreement for establishment of a new company that sells and provides services to construction machinery with NIPPON Machinery B. V. The purpose of this agreement is to expand business, particularly in Central Asia construction machinery market.

The research provides answers to the following key questions:

-What is the estimated growth rate and market share and size of the wheel loaders market for the forecast period 2019 - 2030?
-What are the driving forces in the wheel loaders market for the forecast period 2019- 2030?
-Who are the prominent market players and how have they gained a competitive edge over other competitors?
-What are the market trends influencing the progress of the wheel loaders market industry worldwide?
-What are the major challenges and threats restricting the progress of the industry?
-What opportunities does the market hold for the prominent market players?

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