Backhoe Loader Market Predicted Double-Digit Growth Rate by 2021

Backhoe Loader Market Predicted Double-Digit Growth Rate by 2021

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A backhoe loader is a heavy equipment vehicle that comprises a tractor-like unit fitted with a shovel or bucket on the front and a small backhoe on the back. It is also known as a “loader backhoe”, “digger” in layman’s terms, or just “backhoe”—shortened form used within the industry. Backhoe loaders are commonly used in urban engineering and small construction projects, such as building a small house, fixing urban roads, and so on, in developing countries owing to their relatively small size and versatility properties. These types of machines are similar to Tractor-Loader-Backhoe (TLB), which is an agricultural tractor that is fitted with a front loader and rear backhoe attachment. Backhoe loaders can be used for a wide variety of tasks such as construction, light transportation of building materials, small demolitions, powering building equipment, landscaping, digging holes/excavation, breaking asphalt, and paving the road.

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Recently, considerable growth in the construction industry may act as a major driver of the global backhoe loader market.Owing to this growth in the construction industry, a huge demand for backhoe loaders is experienced for the purpose of performing various tasks. In addition, other factors such as versatility of backhoe loaders, increasing road construction activities, and growing number of power projects in developing countries such as India have also boosted the growth of the global backhoe loader market. Rising Preference for center-mounted backhoe loaders is the new trend of this market. On the other hand, high prices of backhoe loaders may hamper the growth of the global backhoe loader market.

On the basis of application, the global backhoe loader market is segmented as the industrial sector, agricultural sector, civic bodies, and construction industry. Geographically, the global market is further segmented as Asia Pacific, North America, Europe, and Rest of the World (RoW).

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Asia Pacific dominates the global backhoe loader market. This trend is followed by North America and Europe. Asia Pacific is anticipated to be the largest and fastest growing market for backhoe loader. Owing to the recent technological developments, substantial growth in the construction of dams and canals, significant growth in the construction industry, and increasing the number of power projects, India and China prove to be the biggest markets for backhoe loader. The U.S. represents the largest market for backhoe loaders, which is followed by Canada, in North America. In addition, due to significant infrastructure development in Europe, France, Germany, Italy, and the U.K. hold major shares in the backhoe loader market.

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Some of the major companies dominating the global backhoe loader market are J.C. Bamford Excavators Limited, Komatsu Limited, AB Volvo, Caterpillar, Inc., and Liebherr Group. Other key players influencing the global market are Hitachi Construction Machinery Co., Ltd., Deere & Company, CNH Global NV, and Mahindra & Mahindra, Ltd.

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shawn

Shawn Morgan is an accomplished digital marketing professional. He tracks the most recent patterns and happenings in the advanced showcasing scene, additionally offering his feeling on their effect on organizations. He has involvement in both B2C and B2B markets. His side interests incorporate perusing books and voyaging.

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