Global Backhoe Bucket Market to Grow 5.95% CAGR to 2021 – Analysis of Felco Industries, Geith International, LEMAC, Rockland Manufacturing, and TAG Manufacturing

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The research analysts forecast the global backhoe bucket market to grow at a CAGR of 5.95% during the period 2017-2021.

Backhoe buckets are generally used for medium to small-sized operations like light construction work, forestry, landscaping, and demolition work. They are essentially used for almost any job that is too small to be carried out by large excavator buckets. Backhoe buckets are also extensively used in the utility sector and in electrical and plumbing work. Backhoe buckets are of various kinds and are versatile. Each bucket is designed and manufactured keeping in mind the specific job. The versatility of backhoe buckets makes them popular and increases their value in various industries. Thus, the global backhoe bucket market is slowly and steadily growing.

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Technavio recognizes the following companies as the key players in the global backhoe bucket market: Felco Industries, Geith International, LEMAC, Rockland Manufacturing, and TAG Manufacturing.

Other Prominent Vendors in the market are: Action Construction Equipment, Bobcat Company (Doosan), Bull Machine, Caterpillar, CNH Industrial, D&E Manufacturing, Deere & Company, Empire Bucket, ERMOTEC International, ESCO, Escorts Group, Fleco Attachments, H&H Manufacturing, Hensley Industries, HiDROMEK, Hill Engineering, HSM, Huddig, Hydrema, J C Bamford Excavators, KIOTI, Kismet Industries, Komatsu, KUBOTA, LeeBoy, Liugong Machinery, Mahindra Construction Equipment (MCE), Massey Ferguson, Mayura Steels, Model Infra, POWERPLUS GROUP, Rakheja Engineers, Solesbee's Equipment & Attachments, Strickland US, Tata Hitachi Construction Machinery, Terex, Vectra, VERGA, VF VENIERI, Werk-Brau, and XCMG Group.

The latest trend gaining momentum in the market is Launch of hybrid backhoe loaders. With the global population rising at an alarming rate, leading to increased energy and fuel consumption, it is crucial that other forms of energy like renewable sources are encouraged to conserve the non-renewable sources. The current scenario demands fuel efficiency and energy saving as much as possible. In this scenario, manufacturers are developing construction and mining equipment that are socially and environmentally responsible. With technological advances, such manufacturers are developing machines that are both fuel and cost-efficient.

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According to the report, one of the major drivers for this market is Expansion in utility sector. The number of power and energy projects is increasing rapidly worldwide. With the rise in the population, energy scarcity as well as energy demand is growing globally. The global energy sector has witnessed a lot of developments lately. Energy consumption in the developing nations rose dramatically during 2010-2015. Backhoe loaders find a wide variety of applications in T&D infrastructure projects. These are used for laying cables and for maintenance purposes. Backhoe loaders are gaining popularity and are an increased preference for laying electrical power lines as they are compact and hence, can operate within confined spaces and perform multiple operations such as lifting, trenching, and backfilling.

Further, the report states that one of the major factors hindering the growth of this market is Lack of skilled labor. Backhoe loaders are versatile as these come with a number of attachments, which are useful for various applications and are quite easy to handle. However, there has been an increasing number of accidents involving backhoe loaders due to the lack of skilled and qualified workers. In addition to the absence of well-defined safety standards, the few standards that are in force are not followed meticulously while handling backhoe loaders. This results in poor productivity.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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