Backhoe Loader Market in North America 2015-2019
About Backhoe Loaders
A backhoe loader, also known as digger in layman's terms, is earthmoving equipment that comprises a tractor fitted with a shovel in front and a backhoe at the back. Backhoe loaders are relatively small and are used in large, medium, and small-scale construction projects due to their versatility. Backhoe loaders can be fitted with different attachments to carry out tasks such as digging, boring, loading, and excavation.
Technavio's analysts forecast the backhoe loader market in North America to grow at a CAGR of 10.71% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the backhoe loader market in North America for the period 2015-2019. The report includes historical sales of backhoe loaders in the North American construction equipment industry. The market size is determined by the consumption value of backhoe loaders. The performance of the backhoe loader market in North America for the period 2015-2019 is forecast with the help of the predicted CAGR after an analysis of the present condition of the market. The reports also encompasses a geographical analysis and key leading countries, as well as the forecast for the backhoe loader market in these countries. In addition, the report discusses the major drivers that influence growth, the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.Key Leading Countries
Technavio Announces the Publication of its Research Report – Backhoe Loader Market in North America 2015-2019
Technavio recognizes the following companies as the key players in the Backhoe Loader Market in North America: Caterpillar, JCB, Komatsu and Volvo CE
Other Prominent Vendors in the market are: Hitachi Construction Machinery and Liebherr
Commenting on the report, an analyst from Technavio’s team said: “The ownership of backhoe loaders involves huge initial investment. Because construction companies, especially SMEs, face budget constraints, manufacturers are making backhoe loaders available on a rental basis. Leading vendors such as Caterpillar and Volvo are offering rental and leasing services to meet the growing demand for backhoe loaders in North America. Backhoe loaders can be rented on a daily or an annual basis. The lease period is often less than the average lifetime of the equipment. This allows construction companies to use high-cost backhoe loaders without major monetary investments and contributes to the profits of the manufacturers. Auxiliary services such as specialist consultation and proactive maintenance are also offered.”
According to the report, the introduction of new innovations and energy-efficient equipment by backhoe loader manufacturers has the potential to lead to a promising future for the backhoe loader market in North America.
Further, the report states that the high prices of raw materials directly affect the cost of ownership of backhoe loaders and are a major challenge for the market.
Caterpillar, JCB, Komatsu, Volvo CE, Hitachi Construction Machinery, Liebherr