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NEW YORK, Jan. 28, 2021 /PRNewswire/ Award winning market research company Fact.MR s latest research report on skid steer loaders projects that the market is poised to register stable growth in 2021 over 2020, with long-term growth prospects appearing largely optimistic. A modest CAGR exceeding 3% is anticipated for the 2021-2031 forecast period. Supply chain disruptions experienced during the pandemic crisis rendered growth prospects sluggish in the previous year.
Easing of lockdowns since Q4 2020 have led to a resurgence of key end-use industries, most notably construction and infrastructure development. Hence, skid steer loader sales have rebounded in recent months. Prominent manufacturers are targeting the Asia-Pacific region in order to make stupendous gains in the upcoming forecast period.