A skid steer is a small, multipurpose piece of construction equipment used primarily for digging. Skid loaders are compact and can operate in tight spaces that helps in construction activities where large vehicles cannot reach or are hard to operate. Skid steer loaders have light and controllable arms, which can attach to a range of tools for various construction and landscaping jobs. Moreover, using different attachments, skid steer loader can perform a range of tasks, from excavation and leveling to demolition and debris removal, to overhead work and lifting. In addition, ability to work in tight spaces, coupled with lower operating costs makes them a preferred option at construction and mining sites. Hence, owing to the compact size and flexibility provided in the process, demand for skid vehicles is expected to increase. However, high price sensitivity among customers as compared to old backhoe loaders is one of the major causes for limited acceptance of skid steer loaders in emerging economies such as India. Manual labor remains ideal choice for limited construction-related activities as low-cost and cheap available labor restricts the market from reaching its full potential. Top producers are innovating and developing skid steer loaders with substitute fuels such as bio-diesel and electric or battery-operated to attract new customers and boost sales. For instance, in October 2018, Bobcat announced the new S100E skid steer loader with stage V emission standard compatible engine. The machine included a rear camera, auto ride control, cushioned cylinders, LED sidelights, heated cloth air seat, and auto-reversing fan among other prominent features.

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COVID-19 Impact analysis

Due to the COVID-19 outbreak, most countries have implemented lockdowns to contain the deadly virus, which has brought the construction industry to halt their activities. Majority of global skid steer loader manufacturers are facing major issues such as shutdown of all operations and low production productivity due to government declared lockdowns, which further affects production of skid steer loaders. Skid steer loader industry has been currently hampered due to unavailability of workforce, owing to the spread of the coronavirus. Disruption due to the COVID-19 outbreak is observed in the skid steer loader market, which has caused uncertainty toward demand and supply network for skid steer loader manufacturers.

Top impacting factors

• Rise in construction projects, rental system of construction equipment, and high efficiency drive growth of the skid steer market.
• Stringent emission norms regarding use of construction equipment and high cost is expected to hamper growth of the skid steer market.
• Contrarily, innovation and development of alternative fuel engine offers opportunities for the skid steer market growth.

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Rise in construction projects

With fast development of infrastructure, demand for skid steer loaders is on the rise. Increase in population is creating a major demand for infrastructure, which leads to rise in demand for skid steer loader. However, these loaders are used in a wide range of activities such as forestry, including agriculture, mining, and ground maintenance. However, use of these loaders in construction industries is the most. Skid steer loader manufacturers are paying more and more attention to adaptability of this equipment, manufacturers are cooperating with large construction companies by supplying skid steer loaders at effective rate on a rental basis. Accelerated pace of public and private sector investments in construction projects will help the skid steer market to grow.

Key benefits of the report:

• This study presents the analytical depiction of the skid steer industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the skid steer market.
• The current market is quantitatively analyzed to highlight the skid steer market growth scenario.
• The report provides a detailed skid steer market analysis based on competitive intensity and how the competition will take shape in coming years.

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Questions answered in the skid steer market research report:

• Which are the leading market players active in the skid steer market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the skid steer market?
• What are the projections for the future that would help in taking further strategic steps?

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