Loader Market Size, Share & Trends Analysis growing at a CAGR of 6.7% from 2024 to 2030
The global loader market size was estimated at USD 32.37 billion in 2023 and projected to reach USD 51.64 billion by 2030, growing at a CAGR of 6.7% from 2024 to 2030. The increasing pace of infrastructure initiatives and the rising number of construction projects worldwide, especially in developing and emerging economies are major factors driving market growth.
Key Market Trends & Insights
- Asia Pacific loader market accounted for the largest revenue share of 45.6% in 2023 in the global market.
- China loader market accounted for a significant regional market share in 2023.
- Based on type, the wheeled loader segment accounted for a leading revenue share of 34.0% in the global market in 2023.
- Based on engine, the engine capacity of up to 250 HP accounted for a leading revenue share in 2023.
- Based on fuel, the internal combustion engine (ICE) segment accounted for the highest revenue share in 2023.
Market Size & Forecast
- 2023 Market Size: USD 32.37 Billion
- 2030 Projected Market Size: USD 51.64 Billion
- CAGR (2024-2030): 6.7%
- Asia Pacific: Largest Market in 2023
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Increasing rates of public-private partnerships for infrastructure projects and frequent residential, commercial, and industrial developments are anticipated to drive the demand for equipment such as loaders in the coming years. Other major sectors, such as consumer goods, logistics, and agriculture, contribute substantially to the loader market’s growth. For instance, in the logistics space, packers facilitate the efficient movement of goods between warehouses and delivery points by using loaders, improving the efficiency of the supply chain. Meanwhile, in agriculture, they are utilized in activities such as loading/unloading crops, clearing different areas, and moving materials such as gravel, soil, and rocks. Thus, the versatility offered by loaders has made them an important machinery across various industries.
Companies involved in the development and manufacturing of loaders are investing heavily in launching products with advanced features that can increase the efficiency and convenience of operators. For instance, in August 2024, Caterpillar announced a range of updates to improve the performance of its next-generation Cat 950 to 982 medium-wheel loaders, thus improving productivity and ease of operations. The introduction of loader models with high payload capacities is driving market expansion. At the same time, the growing impact of automation is also expected to propel the launch of innovative loader models during the forecast period. Integration of technologies such as Global Positioning System (GPS), intelligent assistance systems, and telematics is also expected to enhance usage experience substantially. Furthermore, there has been a rapidly expanding market for electric loaders that offer more efficient operations, create minimum noise, and help operators and construction companies adhere to various environmental and sustainability standards.
Type Insights
The wheeled loader segment accounted for a leading revenue share of 34.0% in the global market in 2023. These loaders are extensively utilized in infrastructure and construction projects due to their versatile nature and high mobility. A rapidly expanding need for effective material handling solutions from the logistics and agriculture sectors further enables segment demand. Additionally, an increasing focus on technological innovations to elevate operator comfort has provided new opportunities for these products to meet the changing requirements in the industry. Moreover, the shift towards sustainability has propelled the incorporation of environment-friendly technologies in these loaders, aiding segment expansion. For instance, in September 2024, Volvo CE inaugurated new facilities at its Arvika plant in Sweden to increase the production of electric wheel loaders. This strategic move is part of the company’s objective to attain fossil-free status by 2040 and ensure a 35% contribution to electric machine sales by 2030.
The backhoe loaders segment is anticipated to witness the fastest CAGR during the forecast period. These extremely versatile loaders can be used in several major industries, such as construction, mining, utilities, agriculture, and forestry. In addition, design advances in loader components such as boom, front loader, and bucket are constantly making it easier to load and transport construction materials. For instance, Case Construction Equipment launched the 580SV Construction King backhoe at the CONEXPO trade show in March 2023. It features a front end styled as a tool carrier that is ideal for businesses using the backhoe’s loader end for material handling purposes. Manufacturers are also developing models that provide a range of control modes and precise responses. For instance, the 320 P backhoe loader by John Deere provides a ‘Lift Mode’ to boost craning capacity by 15% and a ‘Precision Mode’ that provides a reduction of 55% inflow to offer more precise control without sacrificing performance. Such developments have ensured the steady growth of this segment.
