Global Backhoe Loaders Market 2017-2021
About Backhoe Loaders
Backhoe loaders are generally used for small to medium-sized operations, such as light construction work, forestry work, landscaping, and small demolition projects. They are essentially used for almost any job that is too small to be carried out by a large excavator and loader. Backhoe loaders are also used extensively for electrical and plumbing utilities trench work. Backhoe loaders are available with an extensive array of attachments and advanced features, which increase productivity for a contractor.
Technavio’s analysts forecast the global backhoe loaders market to grow at a CAGR of 5.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global backhoe loaders market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Backhoe Loaders Market 2017-2021
Technavio recognizes the following companies as the key players in the global backhoe loaders market: Caterpillar, Deere & Company, J C Bamford Excavators, Komatsu, and XCMG Group.
Other Prominent Vendors in the market are: Action Construction Equipment, Bobcat Company (Doosan), Bull Machine, CNH Industrial, Escorts Group, HİDROMEK, Huddig, Hydrema, Kubota Tractor Corporation, LeeBoy, Liugong Machinery, MCE (Mahindra Construction Equipment), MST İş ve Tarım Makinaları San. ve Tic., POWERPLUS GROUP, Terex Corporation, Tata Hitachi Construction Machinery, and VF VENIERI.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of hybrid backhoe loaders. The debate on the longevity of fossil fuels has pushed manufacturers to develop innovative technologies, such as hybrid backhoe loaders. As backhoe loaders can be used for various operations, manufacturers are constantly upgrading and innovating them to make new machines that are fuel-efficient and reduce the fuel costs.”
According to the report, one driver in the market is unprecedented demand for energy leading to utility sector expansion. Power and energy related projects continue to be rapidly developed worldwide. Backhoe loaders are used for various purposes on these sites, ranging from laying cables to carrying out maintenance activities. Although crawler excavators are the most common choice in energy projects, backhoe loaders are gaining popularity in the installation of electrical power lines and transmission work due to their ability to work in confined spaces and carrying out multiple operations, such as trenching, lifting, and backfilling.
Further, the report states that one challenge in the market is volatility in steel prices. The largest raw materials used in the manufacture of backhoe loaders is steel. Raw materials and other supplies used in manufacturing are usually available from a variety of competing suppliers. During 2011-2016, the industry was supported by the cheap metal input costs. Steel prices had remained low due to the Chinese oversupply, allowing manufacturers to offer competitive prices to buyers while remaining profitable. Steel is acquired from steel mills and service centers, with the pricing contracts extending 3-6 months.
Caterpillar, Deere & Company, J C Bamford Excavators, Komatsu, XCMG Group, Action Construction Equipment, Bobcat Company (Doosan), Bull Machine, CNH Industrial, Escorts Group, HİDROMEK, Huddig, Hydrema, Kubota Tractor Corporation, LeeBoy, Liugong Machinery, MCE (Mahindra Construction Equipment), MST İş ve Tarım Makinaları San. ve Tic., POWERPLUS GROUP, Terex Corporation, Tata Hitachi Construction Machinery, and VF VENIERI.