United States Loader Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

United States Loader Market Growth

The US manufacturing industry employs 8.41% of the entire workforce and accounts for nearly 10.70% of the total industrial output. In 2021, it generated an output of $2.5 trillion. In Q1 2024, real investment in US manufacturing structures increased by 80% from Q4 2022. This has led to a quarter percentage point rise in the annual GDP growth of the USA in Q4 2022. The implementation of the Inflation Reduction Act and the CHIPS Act is expected to provide large subsidies for the development of critical manufacturing industries, thereby driving the demand for loaders for material handling and transportation over the forecast period.

In 2022, the United States produced non-fuel minerals worth $98.2 billion. Western US states account for a major portion of mineral production in the United States. This includes Arizona and Nevada, which together account for nearly 19.4% of the total mineral production. In 2022, nearly 70% of the domestic copper production occurred in Arizona, while Nevada accounted for a share of 72% in domestic gold production. Nevada also has the sole lithium mining project in the USA, which makes its mining industry extremely important for economic development. The anticipated growth of the mining industry is expected to increase the demand for loaders in the United States.

Key Trends and Developments

Rising focus on operator comfort; diversification of raw material suppliers; use of advanced materials; and the impact of IoT are the major trends impacting the United States loader market expansion

June 2024

Doosan Bobcat established a new construction equipment manufacturing plant in Nuevo Leon worth $300 million to cater to the increasing demand for loaders in North America.

June 2024

Equipment Depot reported a Total Recordable Incident Rate (TRIR) of 1.27 for its material handling equipment, which is nearly 3 times less than the industrial average of 3.9.

May 2024

Stratom Inc. signed an agreement with SOFWERX and the United States Special Operations Command (USSOCOM) to manufacture advanced material handling systems designed specifically for military applications.

January 2024

Cargotec Corporation’s subsidiary, Hiab, received an order for shipping loader cranes and MOFFETT trucks worth EUR 12 million to a US-based construction company.

Increasing focus on operator comfort

Major loader manufacturers are focusing on improving the cab layout of loaders to reduce operator fatigue and enhance productivity.

Diversification of raw material suppliers

Amidst increasing threats to the resilience of existing supply chains, major loader manufacturers are diversifying their raw material suppliers to ensure the stability of production processes.

Rising use of high-strength steel in loaders

High-strength steel is becoming an exceedingly popular component of loaders as it enhances the durability and fuel efficiency of the vehicle.

Integration of IoT in loaders

The integration of smart features into loaders such as GPS tracking and remote monitoring is expected to drive the market growth.

United States Loader Market Trends

Major loader manufacturers are focusing on integrating LCD screens into the dashboards of vehicles to enable operators to stay updated with information like load weight, and engine performance in real-time, thereby minimising the need for frequent vehicle maintenance. The incorporation of greater leg space and HVAC systems into cab layout is also driving the demand for loaders in the construction and manufacturing industry of the United States.

United States Loader Industry Segmentation

United States loader Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Loader Type

• Compact Truck Loader
• Skid Steer Loader
• Wheeled Loader
• Backhoe Loader

Market Breakup by Type

• Heavy
• Compact

Market Breakup by End Use

• Construction
• Mining
• Manufacturing
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

United States Loader Market Share

Based on end use, the market is segmented into construction, mining, and manufacturing, among others. Over the forecast period of 2024-2032, the construction segment is expected to grow at a CAGR of 4.5%. Loaders play a crucial role in construction by facilitating activities such as material loading, excavation, and site preparation. They effectively transport soil, gravel, and debris, thereby accelerating project timelines. By minimising the need for manual labour, loaders significantly boost productivity and contribute to more streamlined operations on construction sites.

Leading Companies in the United States Loader Market

Major manufacturers are expected to design loader manufacturers with high-tech transmission systems, such as continuous variable transmission systems that facilitate seamless vehicle acceleration and reduce carbon emissions.

• Caterpillar Inc.
• Komatsu Ltd.
• AB Volvo
• Hitachi Construction Machinery Co., Ltd.
• Liebherr Group
• J C Bamford Excavators Ltd.
• HD Hyundai Co. Ltd.
• SANY Group
• XCMG Group
• Doosan Corporation
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.