Future Market Insights, Inc. forecasts a dynamic upsurge in the Canadian compact wheel loaders market over the coming years. This robust growth trajectory is fueled by a confluence of factors. Explore the full report for deeper insights and stakeholder opportunities.
NEWARK, Del., Jan. 15, 2024 /PRNewswire/ — The Canada compact wheel loader industry was valued at US$ 142.0 million in 2023. Over the assessment period, demand for compact wheel loaders in Canada is projected to surge at a CAGR of 4.1%, taking the total valuation to US$ 211.9 million by 2033.
The wheeled loaders segment is expected to dominate the Canada compact wheel loader industry during the forecast period. It held a volume share of 39.2% in 2023. On the other hand, the backhoe loaders segment is poised to register a higher CAGR of 5.5% through 2033.
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Several factors are expected to drive compact wheel loaders in Canada over the assessment period. These include increasing industrial, construction, and mining activities, growing demand for high-speed construction equipment, and rising popularity of electric loaders.
Compact wheel loaders are experiencing a surge in demand in Canada owing to their versatility, efficiency, and adaptability across varied terrains. This construction equipment is increasingly used in a wide range of industries, thereby fostering sales growth.
Compact wheel loaders are becoming invaluable tools in the construction sector, where they effortlessly navigate diverse job sites and manage substantial material volumes. This is due to their capacity to handle a broad spectrum of tasks, including excavation, loading, and material transport.
In contrast to alternatives like skid steer loaders, the higher travel speeds of wheeled loaders significantly enhance efficiency. They are ideal for tasks involving frequent movement over extended distances within construction sites.
In the agricultural and forestry domains, wheeled loaders play a pivotal role in managing bulk materials such as grains and transporting logs. Their significance extends to industrial and utility sectors, facilitating material handling in manufacturing plants and utility maintenance tasks.
Leading players are shifting their preference towards developing eco-friendly equipment. This is attributable to the rising popularity of solutions like electric compact wheel loaders as well as methane-powered wheel loaders.
Key Takeaways from the Report-
The compact wheel loader revenue in Canada is projected to total US$ 211.9 million by 2033.
By product type, the wheeled loaders segment is expected to total a valuation of US$ 77.2 million by 2033.
By application, the construction segment held a value share of 33.7% in 2023.
Central Canada is expected to account for a significant share of about 45.9% in 2033.
Atlantic Canada is projected to expand at a 5.6% CAGR through 2033.
Scope of the Canadian Compact Wheel Loader Market Research Report:
|
Attribute |
Details |
|
Estimated Value (2023) |
US$ 142.0 million |
|
Projected Value (2033) |
US$ 211.9 million |
|
Anticipated Growth Rate (2023 to 2033) |
4.1 % |
|
Historical Data |
2018 to 2022 |
|
Forecast Period |
2023 to 2033 |
|
Quantitative Units |
Value (US$ million) and Volume (metric tons) |
|
Report Coverage |
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
|
Segments Covered |
By Product Type: Compact Track Loaders By Power: Below 30 HP By Application: Construction By Region: West Canada
|
“In the construction and industrial sectors in Canada, compact wheeled loaders are experiencing a surge in demand due to their versatility and efficiency. Central Canada dominates the compact wheel loader industry, driven by strict emissions regulations and large-scale road construction projects. Trends indicate a preference for loaders with a power rating above 65 HP, aligning with diverse industry needs,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Who is Winning?
The Canada compact wheel loader industry is fragmented, with leading players accounting for about 75% to 80% of the share. Following are the leading manufacturers of compact wheel loaders operating in Canada.
Liebherr Group
Wacker Neuson Group
Deere & Company
Volvo Construction Equipment
Hitachi Construction Machinery Co. Ltd.
Doosan Bobcat
CNH Industrial N.V.
KUBOTA Corporation
Caterpillar Inc.
Top players like Caterpillar Inc., Liebherr Group, and Volvo are focusing on introducing novel wheel loaders with enhanced features, including high efficiency and low fuel consumption. They are establishing new facilities in Canada and other regions to meet growing end-user demand.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent Developments:
In December 2022, Liebherr introduced a new compact loader series with the new L 504 compact model. It has a new cab design with even more glass for optimum visibility.
Recently, SDLG announced four new wheel loader dealer locations in Canada amid rising sales.
Want More Insights?
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the Canada compact wheel loader industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the industry growth and scope, the report is segmented based on product type, power, application, and region.
Request to Access the Detail Research Methodology from here!
About the Automotive division at Future Market Insights (FMI)
The automotive division of Future Market Insights (FMI) offers comprehensive coverage and valuable insights on the automotive industry, including the automotive, aviation, shipping, marine, and railway sectors. Our research provides market insights and competitive intelligence on original equipment manufacturers (OEM), aftermarket products, services, and technological advancements. By delivering accurate market findings, we assist a wide range of industry stakeholders, such as automakers, component manufacturers, channel partners, and service providers, in making informed decisions and staying updated on market trends.– ‘The Way Forward’.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
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