(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Wheel Loaders Market by Loader Type (Articulated, Compact Backhoe, Skid Steer, and Others), by Application (Public Infrastructure, Forestry and Agriculture, Mining, and Others), by Operating Weight (60000 Kg), and by Power (600 hp): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182027. According to the report, the global wheel loaders market was approximately USD 3,560 million in 2018 and is expected to generate around USD 8,065 million by 2027, at a CAGR of around 9.6% between 2019 and 2027.
A loader is a kind of wheeled tractor attached to a square bucket on the front, rear, or occasionally at individual ends. These buckets fastened are used to scoop up the loose materials from the ground like gravel, sand, dirt, etc. Wheel loaders are mainly used to transmit stored materials from one place to another. The major areas where wheel loaders are deployed are construction zones, defense lands, mining areas, forest and agriculture, etc. Rapid globalization and industrialization majorly fuelled construction activities to flourish in the past. This has led to increased adoption of wheel loaders in the construction field. The armored wheel loader is deployed in military and defense areas, which is highly proficient during battles in hostile territories. These armored loaders are even used for building bridges, bases, eradicating roadblocks, etc. This has positively influenced the wheel loaders market globally. Furthermore, there are some activities that cannot be completed by huge bulldozers due to their sizes but can be easily finished using wheel loaders due to their flexibility. This factor is also driving the global wheel loaders market.
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The global wheel loaders market is divided into loader type, application, operating weight, and power. Based on loader type, the wheel loaders market is classified into articulated, compact backhoe, skid steer, and others. The articulated segment is expected to account for the highest CAGR over the forecast time period. By application, the wheel loaders market is classified into public infrastructure, forestry and agriculture, mining, and others. The public infrastructure segment is expected to develop significantly over the forecast time period. Based on operating weight, the market is divided into 60000 kg. Based on power, the market is bifurcated into 600 hp. The <125 hp="" powered="" wheel="" loader="" segment="" is="" the="" most="" popular="" in="" the="" market="">
By region, Asia Pacific is expected to lead the global wheel loaders market over the forecast time period, which will be closely followed by North America. Asia Pacific's market growth can be attributed to rapid construction activities in the infrastructure/building sector, increasing agricultural automation, and high adoption rate of advanced technology. Latin America and the Middle East and Africa are expected to develop at a considerable pace in the future.
Some key profiles of the global wheel loaders market are Caterpillar, AB Volvo, Deere & Company, CNH Industrial N.V., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., and J C Bamford Excavators Ltd.
This report segments the global wheel loaders market as follows:
Global Wheel Loaders Market: Loader Type Analysis
- Articulated
- Compact Backhoe
- Skid Steer
- Others
Global Wheel Loaders Market: Application Analysis
- Public Infrastructure
- Forestry and Agriculture
- Mining
- Others
Global Wheel Loaders Market: Operating Weight Analysis
- <20000 kg="">
- 20000-40000 Kg
- 40000-60000 Kg
- >60000 Kg
Global Wheel Loaders Market: Power Analysis
- <125 hp="">
- 125-175 hp
- 176-600 hp
- >600 hp
Global Wheel Loaders Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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