According to Report and Data’s latest market analysis, the global North America Knuckleboom Loaders in Storm Disaster Mitigation Market is expected to reach a market The market size for these loaders in 2022 was USD 51.7 million, and it is expected to grow at a compound annual growth rate (CAGR) of 4.6% during the forecast period. The increasing frequency and intensity of hurricanes and other natural disasters in North America are major drivers for the market's revenue growth.
According to the NOAA National Centers for Environmental Information (NCEI) in the United States, there were already seven weather/climate disaster events with damages exceeding USD 1 billion confirmed by May 8, 2023. This indicates the growing impact of extreme weather events, such as hurricanes, tornadoes, wildfires, and floods, in the region.
During these catastrophic events, there is often a need for efficient cleanup and recovery activities, as they lead to extensive waste accumulation and infrastructure damage. Knuckleboom loaders play a vital role in such circumstances due to their articulated booms and lifting capacity, enabling them to efficiently clear debris and handle challenging terrains. This capability of knuckleboom loaders has facilitated the restoration of vital infrastructure and the recovery of affected towns during natural calamities.
Overall, the rising demand for knuckleboom loaders in storm and disaster mitigation is driven by the need for swift and effective cleanup and recovery operations in the face of increasing natural disasters in North America.
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In 2022, the total damages caused by disasters amounted to USD 165.1 billion, according to the NOAA National Centers for Environmental Information (NCEI) in the United States. The costliest events were the Western and Central Drought and Heat Wave, which incurred USD 22.1 billion in damages, and Hurricane Ian, which caused USD 112.9 billion in damages. These significant financial losses incurred from natural disasters are driving the adoption of effective knuckleboom loaders to mitigate the environmental impact in North America.
The demand for knuckleboom loaders in storm and disaster mitigation is also being driven by government programs and investments aimed at preparing for and responding to disasters. The high fatality rates associated with natural disasters have led governments at the federal, state, and municipal levels to recognize the need for reliable and efficient equipment to manage and mitigate the effects of these catastrophes.
According to the National Centers for Environmental Information, tropical cyclones were the most lethal billion-dollar catastrophes in 2022, causing 182 fatalities. They were followed by heat waves resulting from droughts (136 fatalities) and winter storms (87 fatalities). In terms of billion-dollar weather catastrophes, tropical cyclones incurred the highest costs at USD 117.6 billion, followed by droughts (USD 22.4 billion) and severe storms (USD 22 billion).
To enhance their disaster response capabilities and resilience, governments have allocated substantial budgets for the purchase and maintenance of knuckleboom loaders. These investments not only strengthen the market for knuckleboom loaders but also improve the overall effectiveness and response capacity of the region in managing natural disasters.
In summary, the increasing rate of natural disasters, the associated financial damages, and the government's recognition of the importance of reliable equipment have contributed to the growing adoption of knuckleboom loaders in storm and disaster mitigation in North America.
Type Outlook (Revenue, USD Million, 2019-2032)
- Wheeled Knuckleboom Loaders
- Tracked Knuckleboom Loaders
Application Outlook (Revenue, USD Million, 2019-2032)
- Relief and Rescue
- Post Disaster Management
End-Use Outlook (Revenue, USD Million, 2019-2032)
Weight Class Outlook (Revenue, USD Million, 2019-2032)
Deployment Outlook (Revenue, USD Million, 2019-2032)
Sales Outlook (Revenue, USD Million, 2019-2032)
- Direct Sales
- Distributor/ Dealer Sales
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Regional Markets Highlighted in the Global North America Knuckleboom Loaders in Storm Disaster Mitigation Market Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
Haib (Cargotec Corporation); Iowa Mold Tooling Co., Inc. (Oshkosh Corporation); Manitex Inc. (Manitex International); Hmf Group A/S; Fassi Gru S.P.A.; Jomac Ltd; Tigercat International Inc.; Rotobec Inc; Atlas Gmbh.; Palfinger Ag.
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