Backhoe Loader Market: Explores New Growth Opportunities By 2021

A backhoe loader is a type of construction equipment, also called loader backhoe or digger. A backhoe loader is a heavy equipment vehicle that consists of a tractor-like unit fitted with a shovel in the front, and a backhoe at the back. Backhoe loaders are the most heavily used loaders in large, medium, and small scale construction projects because of their versatility and small size. These loaders can be fitted with different attachments for tasks such as boring, digging, excavation, and loading. Backhoe loaders can be used for a wide variety of tasks such as digging holes or excavation, construction, small demolitions, powering building equipment, breaking asphalt, paving roads, and light transportation of building materials. Most backhoe loaders feature quick-attach mounting systems and auxiliary hydraulic circuits for simplified attachment mounting, increasing the machine's utilization on the job site.

Request for Sample Report: http://www.persistencemarketresearch.com/samples/3791

The global backhoe loader market can be segmented on the basis of application: industrial sector, civic bodies, agricultural sector, and construction industry.

In terms of geography, Asia Pacific dominates the global backhoe loader market, followed by North America and Europe. Asia Pacific is the largest and fastest growing market. China and India are the biggest markets for backhoe loaders in the region due to the recent technological developments, significant growth in the construction industry, substantial growth in the construction of dams and canals, and increasing number of power projects. The U.S. represents the largest market for backhoe loaders, followed by Canada, in North America. In Europe, France, Germany, Italy, and the U.K. hold major shares in the backhoe loader market due to significant infrastructure development in the region. For infrastructure development, the U.K government’s public sector investment is expected to rise by USD 4.9 billion to reach approximately USD 77.7 billion in 2013 – 14 over 2012 – 13. It is further expected to increase to about USD 83.0 billion in 2014 – 15. With the increase in infrastructure investment, demand for backhoe loaders would increase. BRIC countries make for very attractive markets for backhoe loaders. Among the BRIC countries, China is the biggest market for backhoe loaders, followed by India. Brazil has become the most attractive market in South America, while Russia is a least attractive market in Asia owing to the tough economic patch it is experiencing.

In recent times, significant growth of the construction industry is a major driver of global backhoe loader market because it is this growth in the construction industry that is generating a huge demand for backhoe loaders for performing various tasks. The versatility of backhoe loaders, rising road construction activities, and increasing number of power projects in developing countries, such as India, have also fueled the growth of the global backhoe loader market. However, high prices of backhoe loaders are hampering the growth of the global backhoe loader market. Increasing preference for center-mounted backhoe loaders is an emerging trend of this market.

Request for Table of content: http://www.persistencemarketresearch.com/toc/3791

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

About Us:

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us:

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA - Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
media@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.