Given the rapid expansion in the infrastructural and urban landscape, the number of construction projects is gaining acceleration. This has greatly boosted the demand for construction and earthmoving vehicles and machinery worldwide. Furthermore, the mechanization trend has increasingly contributed to the growing sales of construction equipment such as compact loaders. As consumer preference for compact loaders for the purpose of earth leveling and digging, and other such tasks, the demand for compact loaders is likely to rise.
Apart from these factors, the increasing government initiatives which are undertaken to boost the infrastructure in leading as well as emerging countries are expected to create major demand for compact loaders and other construction equipment.
Manufacturers Aim to Garner Consumer Attention with the Launch of New Compact Loaders
There are a number of new product launches witnessed across the compact loaders landscape with which companies aim to grab the attention of consumers. The growing demand for performance efficiency and better operations has triggered innovations in the compact loaders market.
- John Deere, a leading provider of construction equipment and machinery recently redesigned the K-series compact wheel loader models by introducing the 244L and 324L compact wheel loaders. These new additional loaders are designed to provide operators with notably faster travel speeds and increased productivity. These compact loaders are well-suited for snow or landscape removal, construction tasks, agricultural material removal, and other such tasks.
- The Schäffer 2428 SLT was recently introduced in the US market and it sets new standards for the ultra-compact articulating wheel loaders fast-growing market. With great operational abilities, the compact loader is an effective addition to the market.
- New Holland recently unveiled its C245 Super Boom compact track loader that provides high-performance in the New Holland Construction vertical lift machine. Its high-rated operating capacity of 4500 pounds, powerful high-flow hydraulics, and market-leading breakout force of 9188 pounds makes it the most powerful compact track loader by New Holland. Company officials state that the machine allows operators to work with greater speed and assurance.
- ASV Holdings recently introduced the new mid-range compact loader to its RT compact track loaders series. Ideal for ground engagement work and digging, the new radial-lift compact track loader—RT-65 Posi-Track is designed for applications including excavation, construction, and snow-clearing.
- Product upgrade is amongst the key areas of focus for manufacturers to gain consumer trust. Hitachi Construction Machinery, for instance, recently updated and launched its versatile ZW95-6 and ZW75-6 compact wheel loaders with several enhancements that improve comfort, efficiency, and performance for end users.
- Apart from these innovative compact loaders, the companies operating in the compact loaders market are also working towards aligning with significant trends shaping the future of the market. The vogue of electric vehicles is one such aspect gaining pace. Volvo Construction Equipment recently announced the launch of the company’s electric range of compact wheel loaders and compact excavators in 2020. With this launch, the company would bring the development of diesel-engine based models to a halt.
Key Technological Upgrades to Address Operational Needs
Apart from new compact loaders, certain technological developments are also expected to boost the capabilities of compact loaders.
- For instance, Continental, a technology company recently engineered a revolutionary chassis system for compact loaders. This system helps reduce noise and vibration levels to provide improved workplace safety.
- Another such product is the Rear Camera Kit designed by Bobcat Company for the Bobcat skid-steer and compact track loaders. This kit prevents contact with obstacles that may damage the compact loader and its components by offering a constant rear view.
- ATG recently launched its Alliance tire range that has been developed for the construction machinery. According to the company, the tire provides superior traction on dry, wintery, and wet surface, low wear, and superior puncture resistance.
More such product innovations and upgrades are covered in an extensive compact loaders market study by FMI. The key developments, future prospects, and necessary information pertaining to the key players can be attained by accessing the market study. Click here to know more.