Hook Lifts and Skip Loaders Market Size - By Product (Hook Lift, Skip Loader), By Application (Construction, Agriculture, Municipalities, Forestry), COVID-19 Impact Analysis & Forecast, 2022 - 2028

Industry Trends

Hook Lifts and Skip Loaders Market size exceeded USD 2 billion in 2021 and is forecast to grow at over 6% CAGR between 2022 and 2028. Considerable demand for skip loaders and hook lifts in municipalities and forestry work is driving the industry growth.
 

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Rising population and urbanization at a significant pace are accelerating various activities, such as material transport, roofing, and metal scrapping, propelling the demand for hook lifts and skip loaders. Supportive government initiatives for landscaping activities to increase the usability of land will enhance the market statistics. For instance, in January 2022, the UK Government introduced a new plan to improve the sustainability of its 300,000 hectares of land as well as to promote sustainable food production.
 

The hook lifts & skip loaders market is experiencing upward trends owing to the increasing investments by OEMs for new equipment innovations. Companies, such as Renault Truck and SwapLoader USA, Ltd., are focusing on improving their corporate liaison with government to increase their equipment sales.
 

One of the vital factors affecting the market growth in the industrial and commercial sectors is high maintenance cost of hook lifts and skip loaders. Hoist systems in hook lifts and hydraulic systems in skip loaders need to be checked and replaced after a specific time period, thereby affecting the industry expansion. Frequent wear & tear of the cables and frequent oil changing in hydraulic systems also increase the maintenance costs of hook lifts and skip loaders. High ownership and freight charges also impact equipment adoption worldwide.
 

Hook lifts and skip loaders industry was hit worst in 2020 and several months in 2021 due to the COVID-19 pandemic. Majority of countries imposed strict lockdowns to control the first and second COVID-19 waves, impacting the market revenue. Industry participants, such as Volvo Construction Equipment, VDL Containersystemen B.V., and Stellar Industries incurred significant financial losses by decline in demand. However, the market is slated to observe demand led by government initiatives aimed at reviving the pandemic-affected economy.
 

Increasing adoption of hook lifts in waste recycling plants and demolition industries

The Europe hook lifts market is expected to register a growth rate of around 4% through 2028. These hook lifts can be mounted on a wide range of vehicles and can also be used in constricted places without compromising with service quality. Their ability to survive multiple business domains and high work efficiency is boosting the hook lifts and skip loaders industry statistics.
 

Companies including HIAB AB, B.O.B. Sistemi Idraulici S.p.A and West-Trans Equipment are highly emphasizing on introducing new products with multiple features to stay competitive in the market. For instance, in June 2020, HIAB AB launched MULTILIFT Optima 25S hook lift and MULTILIFT Optima 15S for four and two axle trucks. They possess a lifting capacity of up to 25 tons and support various optional features such as fast speed functions and automatic sequence control.
 

Rising construction activities globally is fueling the sales

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The demand of hook lifts and skip loaders market in Europe is poised to reach 35 thousand units by 2028. The ability of hook lifts and skip loaders to work in constricted places is creating a positive outlook in indoor constructions.
 

Rising product demand in the construction and infrastructure development sector is encouraging various industry participants to adopt unique business strategies to increase their equipment sales. Several OEMs are jointly developing skip loader trucks integrated with multiple features to accelerate the market demand.
 

Supportive government initiatives for infrastructure development to improve statistics in North America

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North America hook lifts & skip loaders market size is predicted to cross USD 1 billion in 2028. Canada and the U.S. are witnessing a high demand owing to the proliferation of industrial & infrastructure development activities. Governments are providing financial as well as equipment support to the farmers to improve food reproduction. For instance, in December 2021, the Agriculture and Agri-Food Department of Canada announced to help farmers with tools and equipment to promote organic farming practices.
 

Market players are focusing on developing sustainable hook lifts and skip loaders to improve their brand recognition

Industry leaders are focusing on minimizing their carbon footprints by launching fully-electric equipment to acquire greater market share. These OEMs are participating in trade shows to introduce their new products to potential business clients. Companies are focusing on gaining high valued skip loaders orders from waste recycling companies to increase their net sales. For instance, in February 2020, Scania delivered its CNG-powered skip loaders trucks at a waste recycling plant in Vicálvaro, Madrid. These trucks are equipped with 280HP engine and offer torque up to 1,350 Nm.
 

Some of the major hook lifts & skip loaders market players include Marrel Corporation (Ampliroll), B.O.B. Sistemi Idraulici S.p.A, Cargotec Corporation, Meiller Group, PALFINGER Group, VDL Containersystemen B.V., Volvo Construction Equipment, SwapLoader USA Ltd., Galbreath, Stellar Industries, and West-Trans Equipment.
 

This market research report on hook lifts and skip loaders includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD and shipment in units from 2018 to 2028 for the following segments:

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Market, By Product

• Hook Lift
• Skip Loader

Market, By Application

• Construction
• Agriculture
• Municipalities
• Forestry
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa