The Europe compact wheel loader market is estimated to increase at a value CAGR of 2.5% and reach a valuation of US$ 2.12 Bn by the end of 2032.
Rising population is indirectly shaping the construction industry across Europe. New and ongoing constructions require compact wheel loaders, which, in turn, is expected to boost market expansion over the coming years.
Since the last decade, the auto industry has been undergoing the most dramatic and disruptive technological breakthroughs. This has had a significant impact on all major components, including compact wheel loaders. To satisfy changing market requirements, address tough laws on fuel efficiency and carbon emissions, and remain competitive in the market, significant advancements in compact wheel loader designs, techniques, and materials have been made, all boding well for market growth.
Key Takeaways from Market Study
By application, the construction segment is projected to hold a market share of 40.7% by 2032.
Conventional propulsion is anticipated to hold the largest market share of 90.5%.
By horsepower, the 57hp to 90hp segment is projected to create an absolute $ opportunity of nearly US$ 196 Mn from 2022 to 2032.
By country, Germany is anticipated to account for the largest market share of 37.8% by 2032.
France is projected to register an absolute $ opportunity of US$ 72.4 Mn from 2022 to 2032.
“Economic reforms in Europe as well as increased private equity investments in construction equipment manufacturing are expected to positively impact market growth,” says a Persistence Market Research analyst.
Market Landscape
To improve performance and fuel efficiency, manufacturers are working on developing compact wheel loaders through innovative engine designs. Businesses have been increasing their footprint by opening additional operations and introducing sophisticated compact wheel loader models.
Some of the key compact wheel loader manufacturers included in the report are Deere & Company, Doosan Corporation (Bobcat), Vermeer Corporation, CNH Industrial, Liebherr, Wacker Neuson SE, Hitachi Construction Machinery Co., Ltd., Volvo AB, YANMAR HOLDINGS CO., LTD, Schäffer Maschinenfabrik GmbH, Tobroco-Giant, SANY Europe GmbH, CASE Construction Equipment, Komatsu Europe International N.V., JCB, and Caterpillar Ltd
Conclusion
Over the forecast period, rising product demand from the construction equipment industry, owing to stringent government regulations for vehicle emissions, is expected to drive market expansion.
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Because of increased purchasing capacity and improved living conditions around the world, the construction equipment sector is predicted to rise rapidly. Increased worries about environmental pollution caused by the smoke generated from equipment exhausts are likely to drive demand for electric compact wheel loaders.