The hook lifts and skip loaders market has been anticipated to grow with the increasing rate of industrialization and urbanization that further propel requirements for construction activities. Further, growing expenditure on landscaping activities that are supported by government initiatives in order to reuse land has also been predicted to fuel expansion opportunities in the hook lifts and skip loaders market.
In recent years, there has been an increasing requirement for the latest equipment that further propels OEMs to increase expenditure on different novel equipment that further bolsters sales opportunities in the hook lifts and skip loaders market.
The key players serving in the hook lifts and skip loaders market are Volvo Construction Equipment, Meiller Group, West-Trans Equipment, SwapLoader USA Ltd., Stellar Industries, PALFINGER Group, Marrel Corporation, Cargotec Corporation, and VDL Containersystemen B.V.
COVID-19 Pandemic and Hook Lifts and Skip Loaders Market
The COVID-19 pandemic has brought various challenges in the hook lifts and skip loaders market based on the imposition of stringent lock regulations. These restrictions have further put a halt on the construction activity across the globe. Moreover, the removal of these restrictions and requirements for economic growth is estimated to increase the count of construction activities and thus propel sales avenues in the hook lifts and skip loaders market.
Asia Pacific to Lead in Hook Lifts and Skip Loaders Market
Based on geographical locations, Asia Pacific is estimated to hold the largest share in the hook lifts and skip loaders market. The growth in the market is attributed to the growing count of construction activities, especially across the residential vertical. Further, the growing count of home construction activities and the increasing rate of the population have also been anticipated to bolster revenue generation opportunities in the hook lifts and skip loaders market in the years to come.