Skid Steer Loaders and Compact Track Loaders Market

Skid steer loaders and compact track loaders are two types of compact construction equipment that can perform various tasks such as digging, grading, hauling, and loading. Skid steer loaders steer by skidding the wheels on one side, while compact track loaders have tracks instead of wheels that provide better traction and stability on soft or uneven terrain. Both machines have a loader arm that can be attached with different tools or attachments for different applications.

Market Outlook

The Global Skid Steer Loaders and Compact Track Loaders Market was estimated at USD 7.40 Billion in 2021 and is anticipated to reach USD 10.60 Billion by 2030, expanding at a CAGR of 4.4% during the forecast period. The growth of the market is driven by the increasing demand from agriculture and mining sectors, as well as rising construction activities in the region. North America is the largest market for skid steer loaders and compact track loaders, followed by Europe and Asia-Pacific. The U.S. is the leading country in terms of sales and production of these machines, owing to the presence of major manufacturers such as Caterpillar, Deere & Company, Bobcat, and Case New Holland.

Market Trends

Some of the key trends in the skid steer loaders and compact track loaders market are:

Increasing adoption of electric and hybrid models: As environmental regulations and fuel costs become more stringent, manufacturers are developing electric and hybrid models of skid steer loaders and compact track loaders that offer lower emissions, noise, and operating costs. For instance, Bobcat launched its first electric compact track loader, the T76e, in 20212, which can operate for up to five hours on a single charge. Caterpillar also introduced its first electric drive skid steer loader, the 226D3 ED, in 20203, which offers improved performance and efficiency compared to conventional models.

Concrete Mixer Trucks Market

Concrete mixer trucks are vehicles that combine cement, aggregate such as sand or gravel, and water to form concrete. The truck has a drum on one end that slowly rotates while the ingredients are mixed and then discharged out the other end in the form of wet concrete. Concrete mixer trucks are used for transporting concrete from a batching plant to a construction site or delivering ready-mix concrete to customers.

Market Outlook

The global Concrete Mixer Trucks Market size was valued at USD 25.45 Billion in 2021 and is expected to reach USD 42.94 Billion in 2030, expanding at a CAGR of 6.0% during the forecast period. The growth of the market can be attributed to the increasing demand for ready-mix concrete and rising construction activities across the globe. Asia-Pacific accounted for the largest share of the market in 2017 and is expected to maintain its dominance during the forecast period owing to rapid urbanization and growing construction activities in countries such as China and India. North America and Europe are also significant markets for concrete mixer trucks due to the presence of established players and infrastructure development projects.

Market Trends

Some of the key trends in the concrete mixer trucks market are:

Increasing adoption of electric and hybrid models: As environmental regulations and fuel costs become more stringent, manufacturers are developing electric and hybrid models of concrete mixer trucks that offer lower emissions, noise, and operating costs. For instance, Volvo Trucks launched its first electric concrete mixer truck, the FE Electric, in 20197, which can operate for up to eight hours on a single charge. Liebherr also introduced its first electric concrete mixer truck, the ETM 1005/1205, in 20208, which uses an electric motor to drive the drum and a battery pack to power the hydraulic system.

Twin-screw Extruders Market

Twin-screw extruders are machines with two co-rotating, intermeshing screws mounted in a closed barrel on splined shafts. Twin-screw extruders have several functions such as compressing, mixing, puffing, and forming, and these tasks can be performed quickly. Twin-screw extruders are used in various industries to mix a wide range of materials such as plastics, rubber, food, chemicals, pharmaceuticals, and biomass.

Market Outlook

The global Twin-Screw Extruders Market was estimated at USD 1.12 Billion in 2022 and is anticipated to reach USD 1.64 Billion by 2031, expanding at a CAGR of 4.5% during the forecast period. The growth of the market is driven by the increasing demand for plastic products, food & feed extrusion, and pharmaceutical applications across the globe. Asia-Pacific is the largest market for twin-screw extruders, followed by Europe and North America. China and India are the leading countries in terms of sales and production of these machines, owing to the presence of major manufacturers such as Nanjing Rubber & Plastics Machinery Works, Guangdong Jinming Machinery, and Lantai Plastic Machinery.

Market Trends

Increasing use of smart technologies: Manufacturers are incorporating smart technologies such as sensors, cameras, and artificial intelligence into their twin-screw extruders to enhance productivity, quality, and maintenance. These technologies enable real-time monitoring, control, and optimization of the extrusion process, as well as provide data and insights for improvement. For example, Milacron offers its Mosaic Control+ system for its twin-screw extruders14, which allows users to access machine status, parameters, alarms, and trends through a touchscreen interface or a mobile app.