Wheel Loader Market Size - By Component (Engine, Transmission system, Hydraulic system, Bucket & loader arms, Tires & wheels), By Application (Construction & mining, Agriculture, Forestry, Road Construction & maintenance), By Payload Capacity & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Wheel Loader Market Size - By Component (Engine, Transmission system, Hydraulic system, Bucket & loader arms, Tires & wheels), By Application (Construction & mining, Agriculture, Forestry, Road Construction & maintenance), By Payload Capacity & Forecast, 2024 – 2032

Wheel Loader Market Size

Wheel Loader Market was valued at USD 14.3 billion in 2023 and is poised to witness more than 4% CAGR between 2024 and 2032. The surging rate of urbanization, robust population growth, and economic development are fueling the demand for new infrastructure like roads, bridges, airports, and residential complexes.

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The jump in government investments for infrastructure development and public works projects will also have a significant impact on the industry development. Of late, there has been a significant rise in initiatives like road construction, railway projects, airport expansions, and urban development programs. In addition to government policies and regulations, the emergence of emissions standards and safety requirements will also influence the adoption of wheel loaders, further driving the development of new wheel loader technologies.
 

Wheel Loader Market Report Attributes
Report Attribute Details
Base Year 2023
Wheel Loader Market Size in 2023 USD 14.3 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 4%
2032 Value Projection USD 21.4 Billion
Historical Data for 2018 – 2023
No. of Pages 250
Tables, Charts & Figures 330
Segments covered Component, Payload Capacity, Application
Growth Drivers
  • Increasing investments in mining operations globally.
  • Urbanization driving demand for construction infrastructure projects.
  • Rising demand for eco-friendly, fuel-efficient machinery.
  • Replacement demand as older equipment reaches end-of-life.
Pitfalls & Challenges
  • Intense competition from alternative material handling solutions.
  • High maintenance costs for aging equipment fleets

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The rising interest in hybrid and electric propulsion systems due to the strong emphasis on sustainability and fuel efficiency will favor the product demand. Engine management systems are playing a critical role in optimizing fuel efficiency, performance, and emissions control in wheel loaders. The growing introduction of hybrid wheel loaders that combine diesel engines with electric motors and energy storage systems to reduce fuel consumption and emissions, in applications with frequent start-stop cycles or variable loads will drive the market growth.

Wheel Loader Market Trends

The rising technological innovations in wheel loaders will play a crucial role in the market expansion. Numerous manufacturers are continuously coming up with advanced features and capabilities like precise positioning and mapping, automated functions for improved productivity and precision to enhance the performance, efficiency, and safety of wheel loaders.

Wheel Loader Market Analysis

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Based on component, the engine segment was reached USD 14.3 billion in 2023 and is projected to exceed USD 21.4 billion by 2032. This can mainly be attributed to the continuous evolution of engine technology in wheel loaders to meet the demands for cleaner emissions, improved fuel efficiency, and enhanced performance.

The influx of stricter emissions regulations is leading to the development of cleaner and more fuel-efficient engines for wheel loaders. The growing focus of manufacturers on investing in engine technologies, such as selective catalytic reduction (SCR), exhaust gas recirculation (EGR), and diesel oxidation catalysts (DOC) will also add to the product demand.

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Based on the payload capacity, the construction & mining segment held a major market share of around 34% in 2023 and is expected to grow significantly, due to their rising suitability in moving large quantities of materials like soil, gravel, sand, rocks, and debris. On account of their robust bucket attachments and hydraulic systems, wheel loaders efficiently load, transport, and unload materials within construction sites and mining operations. The ongoing advancements in exploration technologies and increasing demand for minerals has renewed the interest in exploration activities in frontier regions, further tapping the product potential.

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The Asia Pacific region is expected to see a surge in demand for wheel loaders over the next decade. This growth is being driven by heavy investments in infrastructure projects. These projects include the construction of roads, bridges, airports, ports, and residential complexes. This increased infrastructure development has created a greater need for heavy machinery to handle the earthmoving, material handling, and landscaping tasks associated with these projects. Governments across the region are also playing a role in this growth by launching infrastructure projects. For example, in January 2024, Indian Prime Minister Narendra Modi announced the launch of three major infrastructure projects worth over $500 million in Kochi, India. These types of projects are providing a boost to the market for construction machinery, including wheel loaders.

Wheel Loader Market Share

Caterpillar Inc., Volvo Construction Equipment and Komatsu Ltd. hold a significant market share of over 23% in the wheel loader industry. Their extensive product portfolios cover various wheel loader sizes and capabilities, enabling them to address a wide array of applications in construction, mining, and related industries. These industry leaders prioritize innovation, investing significantly in research and development to integrate cutting-edge technologies and features into their machines, setting them apart from competitors.

Renowned for producing high-quality, durable equipment, they have established a reputation for reliability, which fosters customer trust and loyalty. Additionally, robust after-sales support, adherence to environmental standards, financial strength, brand recognition, and strategic partnerships contribute to their dominance.

Wheel Loader Market Companies

Major players operating in the wheel loader industry are

  • Caterpillar Inc.
  • Hitachi Construction Machinery
  • Hyundai Construction Equipment
  • JCB
  • John Deere
  • Komatsu Ltd.
  • Larsen & Toubro
  • Liebherr Group
  • Sany Global
  • Volvo Construction Equipment

Wheel Loader Industry News

  • In January 2024, Liebherr introduced L 507 E, the first compact wheel loader deployed with the standard L 507 Stereo's lift arms as well as stereo steering, showcasing its trademarked "Z-bar" kinematics that works devoid of manual readjustment.
  • In January 2023, Volvo Construction Equipment (Volvo CE) invested around $6.3 million for the manufacturing of electric wheel loaders from its plant in Arvika, Sweden as part of its ambition of industry transformation through sustainable solutions.

This wheel loader market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Units) from 2018 to 2032, for the following segments

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Market, By Component

  • Engine
  • Transmission system
    • Hydrostatic transmission pump
      • Pump type
        • Variable displacement pumps
        • Fixed displacement pumps
      • Power range
        • 30 HP - 70 HP
        • 70 HP – 100 HP
        • Above 100 HP
    • Others 
  • Hydraulic system
  • Bucket & loader arms
  • Tires & wheels
  • Others

Market, By Payload Capacity

  • 3-5 Tons
  • 6-10 Tons
  • 11-15 Tons
  • 15 Tons and above

Market, By Application

  • Construction & mining
  • Agriculture
  • Forestry
  • Road construction & maintenance
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • UAE
    • South Africa
    • Saudi Arabia
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2018 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material provider

3.2.2    Component provider

3.2.3    Manufacturers

3.2.4    Suppliers

3.2.5    End-users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news & initiatives

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1    Increasing investments in mining operations globally.

3.8.1.2    Urbanization driving demand for construction infrastructure projects.

3.8.1.3    Rising demand for eco-friendly, fuel-efficient machinery.

3.8.1.4    Replacement demand as older equipment reaches end-of-life.

3.8.2    Industry pitfalls & challenges

3.8.2.1    Intense competition from alternative material handling solutions.

3.8.2.2    High maintenance costs for aging equipment fleets.

3.9    Growth potential analysis

3.10    Porter’s analysis

3.10.1   Supplier power

3.10.2   Buyer power

3.10.3   Threat of new entrants

3.10.4   Threat of substitutes

3.10.5   Industry rivalry

3.11    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Component 2018 - 2032 ($Bn)

5.1    Key trends

5.2    Engine

5.3    Transmission system

5.3.1    Hydrostatic transmission pump

5.3.1.1    Pump type

5.3.1.1.1    Variable displacement pumps

5.3.1.1.2    Fixed displacement pumps

5.3.1.2    Power range

5.3.1.2.1    30 HP - 70 HP

5.3.1.2.2    70 HP – 100 HP

5.3.1.2.3    Above 100 HP

5.3.2    Others

5.4    Hydraulic system

5.5    Bucket & loader arms

5.6    Tires & wheels

5.7    Others

Chapter 6   Market Estimates & Forecast, By Payload Capacity, 2018 - 2032 ($Bn)

6.1    Key trends

6.2    3-5 Tons

6.3    6-10 Tons

6.4    11-15 Tons

6.5    15 Tons & above

Chapter 7   Market Estimates & Forecast, By Application, 2018 - 2032 ($Bn)

7.1    Key trends

7.2    Construction & mining

7.3    Agriculture

7.4    Forestry

7.5    Road construction & maintenance

7.6    Others

Chapter 8   Market Estimates & Forecast, By Region, 2018 - 2032 ($Bn, Units)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Russia

8.3.7    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    ANZ

8.4.6    Southeast Asia

8.4.7    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Argentina

8.5.4    Rest of Latin America

8.6    MEA

8.6.1    UAE

8.6.2    South Africa

8.6.3    Saudi Arabia

8.6.4    Rest of MEA   

Chapter 9   Company Profiles

9.1    Bell Equipment

9.2    CASE Construction Equipment

9.3    Caterpillar Inc.

9.4    Hidromek

9.5    Hitachi Construction Machinery

9.6    Hyundai Construction Equipment

9.7    JCB (J.C. Bamford Excavators Ltd.)

9.8    John Deere

9.9    Kawasaki Heavy Industries

9.10    Komatsu Ltd.

9.11    Kramer-Werke GmbH

9.12    Kubota Corporation

9.13    Larsen & Toubro

9.14    Liebherr Group

9.15    Liugong Machinery Co Ltd

9.16    Sany Global

9.17    Volvo Construction Equipment

9.18    Wacker Neuson

9.19    XCMG Group

9.20    Yanmar Co., Ltd.

  • Caterpillar Inc.
  • Hitachi Construction Machinery
  • Hyundai Construction Equipment
  • JCB
  • John Deere
  • Komatsu Ltd.
  • Larsen & Toubro
  • Liebherr Group
  • Sany Global
  • Volvo Construction Equipment

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