Wheeled Loader Market

The article provides a comprehensive analysis of the global wheeled loader market, highlighting key trends and forecasts. With a focus on production, consumption, import, and export statistics, the report covers key countries driving growth in the industry. Insights into market performance, expected CAGR, and volume projections offer valuable information for industry professionals and stakeholders. Overall, the article offers a detailed overview of the wheeled loader market and projections for the coming years.

Market Forecast

Driven by increasing demand for wheeled loaders, crawler shovel loaders, front-end loaders worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 514K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $27.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wheeled Loaders, Crawler Shovel Loaders, Front-End Loaders

Global wheeled loader consumption totaled 445K units in 2022, increasing by 14% compared with 2021 figures. Overall, consumption saw a relatively flat trend pattern. Over the period under review, global consumption reached the maximum volume at 456K units in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global wheeled loader market value skyrocketed to $20.9B in 2022, picking up by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Spain (44K units), China (44K units) and the United States (44K units), together accounting for 30% of global consumption. South Africa, India, Canada, Russia, Denmark, France, Brazil, Slovakia, Belgium and Australia lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Belgium (with a CAGR of +26.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, South Africa ($2.9B), the United States ($2.5B) and China ($1.5B) appeared to be the countries with the highest levels of market value in 2022, with a combined 33% share of the global market. Canada, India, Spain, Australia, Russia, Belgium, France, Brazil, Denmark and Slovakia lagged somewhat behind, together accounting for a further 33%.

In terms of the main consuming countries, Belgium, with a CAGR of +27.5%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of wheeled loader per capita consumption in 2022 were Denmark (2,277 units per million persons), Slovakia (1,984 units per million persons) and Spain (928 units per million persons).

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +26.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Wheeled Loaders, Crawler Shovel Loaders, Front-End Loaders

In 2022, global wheeled loader production fell to 395K units, which is down by -9.3% against 2021 figures. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. As a result, production attained the peak volume of 435K units, and then dropped in the following year.

In value terms, wheeled loader production contracted slightly to $15.8B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 19%. As a result, production reached the peak level of $18.7B. From 2014 to 2022, global production growth failed to regain momentum.

Production By Country

The country with the largest volume of wheeled loader production was China (125K units), comprising approx. 32% of total volume. Moreover, wheeled loader production in China exceeded the figures recorded by the second-largest producer, Japan (44K units), threefold. The third position in this ranking was held by the UK (43K units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +2.8%. In the other countries, the average annual rates were as follows: Japan (+2.6% per year) and the UK (-4.3% per year).

Imports

World Imports of Wheeled Loaders, Crawler Shovel Loaders, Front-End Loaders

In 2022, the amount of wheeled loaders, crawler shovel loaders, front-end loaders imported worldwide soared to 376K units, increasing by 32% compared with the year before. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wheeled loader imports expanded significantly to $15.2B in 2022. Overall, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports By Country

In 2022, the United States (50K units), Spain (43K units) and South Africa (37K units) represented the largest importer of wheeled loaders, crawler shovel loaders, front-end loaders in the world, generating 34% of total import. It was distantly followed by Canada (20K units), committing a 5.4% share of total imports. Russia (17K units), the Netherlands (16K units), France (15K units), Germany (14K units), Australia (11K units), Poland (7.6K units), the Philippines (7.5K units), Italy (6.4K units) and Argentina (6.4K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Africa (with a CAGR of +32.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3B) constitutes the largest market for imported wheeled loaders, crawler shovel loaders, front-end loaders worldwide, comprising 19% of global imports. The second position in the ranking was taken by Canada ($1.4B), with a 9.2% share of global imports. It was followed by Australia, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +8.8%. In the other countries, the average annual rates were as follows: Canada (+0.7% per year) and Australia (+1.1% per year).

Import Prices By Country

In 2022, the average wheeled loader import price amounted to $40,373 per unit, waning by -13.3% against the previous year. Over the period under review, the import price continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 60% against the previous year. Over the period under review, average import prices reached the maximum at $51,777 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($84,080 per unit), while Spain ($4,086 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wheeled Loaders, Crawler Shovel Loaders, Front-End Loaders

In 2022, approx. 326K units of wheeled loaders, crawler shovel loaders, front-end loaders were exported worldwide; remaining stable against the previous year. Overall, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 38% against the previous year. As a result, the exports attained the peak of 328K units, leveling off in the following year.

In value terms, wheeled loader exports rose sharply to $13.4B in 2022. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, China (82K units), distantly followed by the UK (47K units), Japan (45K units), the United States (42K units) and Germany (22K units) represented the main exporters of wheeled loaders, crawler shovel loaders, front-end loaders, together generating 73% of total exports. The following exporters - the Czech Republic (13K units), the Netherlands (11K units), South Korea (9.3K units), Belgium (7.3K units), Denmark (6.3K units), Austria (5.6K units) and Italy (5.1K units) - together made up 18% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Denmark (with a CAGR of +23.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest wheeled loader supplying countries worldwide were China ($2.9B), Japan ($2B) and the United States ($1.9B), together comprising 51% of global exports. Germany, Austria, the UK, the Netherlands, South Korea, the Czech Republic, Belgium, Italy and Denmark lagged somewhat behind, together accounting for a further 32%.

The Czech Republic, with a CAGR of +8.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average wheeled loader export price amounted to $40,973 per unit, with an increase of 8.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 17%. As a result, the export price reached the peak level of $46,169 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Austria ($105,220 per unit), while Denmark ($9,867 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+9.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform