Backhoe Loader Market Global Size, Opportunities, Industry Analysis By Top Leaders, Development Strategy and Trends by Forecast 2022

16/gen/2020 08:08:23 Automotive Market Research Reports Contatta l'autore

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The global backhoe loader market is expected to exhibit a solid 10% CAGR over the forecast period from 2016 to 2022, according to the latest research report from Market Research Future (MRFR). The global backhoe loader market is mainly driven by the growing demand in construction activities, where earthmoving equipment such as backhoe loaders are a valued and essential implement. Growing infrastructure construction activities in Asia Pacific, the Middle East, and Latin America are likely to be the major driver for the global backhoe loader market over the forecast period.

Competitive Analysis:

Leading players in the global backhoe loaders market include Mahindra & Mahindra Ltd., Deere & Company, CNH Global NV, Liebherr Group, Hitachi Construction Machinery, Case CE, Volvo AB, Komatsu Ltd., JCB, and Caterpillar Inc.

Segmentation:

The global backhoe loader market is segmented on the basis of application and region.

By application, the global backhoe loader market is segmented into industrial, agriculture, construction, and others. Construction is likely to remain the backbone of the global backhoe loader market over the forecast period, with increasing infrastructure construction activities driving the demand for backhoe loaders and other earthmoving equipment.

Regional Analysis:

The global backhoe loader industry is expected to be dominated by Asia Pacific over the forecast period due to the growing demand from the construction industry in the region. The construction industry in Asia Pacific has emerged as a major driver for construction and earthmoving equipment, due to the increasing demand for new infrastructure construction. New infrastructure has become a major agenda for the powers that be in the major countries in Asia Pacific, making the growth of the earthmoving equipment market imperative, and thus driving the backhoe loader market in the region at a progressive growth rate. Increasing road building activities in Asia Pacific are likely to be a major driver for the backhoe loader market in Asia Pacific, as many countries in the region have committed to significant roadbuilding activities in the coming years in order to smoothen the economic development and increase the movement of goods and products in their territories. This is likely to drive the demand from the backhoe loader market in Asia Pacific over the forecast period.

The increasing demand for new power plants in Asia Pacific is also likely to be a major driver for the global backhoe loader market over the forecast period. The increasing need for power to satiate the demands of the region’s growing population has led to a significant drive in the number of power plants in the region, leading to major construction activities. This has led to a growing demand for backhoe loaders, as they play a vital role in clearing out the space required for the large-scale construction of power plants. The increasing demand for wind power and solar power installations, as well as the growing demand for conventional steel or gas-run power plants, is likely to be the major driver for the backhoe loader market in Asia Pacific over the forecast period.

The increasing construction of dams and canals in India, China, Vietnam, Thailand, and other countries in Southeast Asia is also likely to be a major driver for the backhoe loader market in the region over the forecast period. Due to the increasing need to provide water in remote parts of the region, the demand for new water preservation and channeling bodies such as canals and dams has increased. The increasing government investment in the field, with the aim of supplying their citizens’ water needs, is likely to be a major driver for the backhoe loader market over the forecast period, as dam or canal building activities require major amounts of earthmoving and cannot be accomplished without using backhoe loaders at a high volume.

North America and Europe are also likely to be key markets for the global backhoe loader market, although the market growth is slower here than in Asia Pacific, as the infrastructure needs of citizens in these regions are already close to being fulfilled.

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