However, their use in construction activities greatly outweighs all these sectors. Skid steer loaders are used in various industries, from mining, agriculture, forestry, ground maintenance, etc. What is the Impact of COVID-19 on the Market? Fact.MR forecasts a compound annual growth rate of over 3% from 2021 to 2031 for this market. As such, increasing investments made by governments in developed and developing countries for infrastructure development projects are anticipated to drive the construction industry, thereby heightening the need for skid steer loaders. This market continues to witness significant opportunities across the globe, on the backdrop of increasing demand for energy-efficient construction equipment.ДЄccording to studies, by 2050, 64% of the developing world and 86% of the developed world will be urbanized. Future Outlook to Match Pace with Historical TrendsДemand for skid steer loaders has been rising at a CAGR between 2.5% to 3% over the last 5 years. The study also details how the COVID-19 pandemic has affected this industry, and what the outlook for the years ahead looks like. It also provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report comprises extensive primary research with detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders, to gain deeper insights into industry performance. Fact.MRвЂ™s report has a detailed region-wise analysis, where the region of APEJ leads the way for skid steer loader demand and usage. Vertical lift skid steer loaders are highly sought-after across sectors, with the mid-range type witnessing high demand as far as operating capacity is concerned. With the construction industry growing steadily, demand for skid steer loaders is also increasing, and construction is the largest end user of these machines.