Persistence Market Research is released new forthcoming report on title "Backhoe Loader Market: Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 11/21/2014 -- 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 on the front, and a backhoe at the back. A Backhoe loaders are the most heavily used loaders in large, medium, and small scale construction projects because of their versatility and small size.
Backhoe loaders can be fitted with different attachments for tasks such as boring, digging, excavation and loading. Backhoe loaders can be used for 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 of the backhoe feature quick-attach mounting systems and auxiliary hydraulic circuits for simplified attachment mounting, increasing the machine's utilization on the job site.
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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 region is the largest and fastest growing market. China and India are the biggest market for backhoe loader due to the recent developments, high growth in the construction industry, and high growth in the construction of dams and canals and increasing number of power projects. The U.S. represents the largest market for backhoe loader followed by Canada in North America. In Europe, France, Germany, Italy and the U.K. holds major share of backhoe loader market due to the increased infrastructure development. For infrastructure development, the U.K government’s public sector investment is expected to rise by USD 4.9 billion to about 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 loader will increase. BRIC countries are one of the most attractive markets for backhoe loader. In BRIC countries China is the biggest market for backhoe loader followed by India. Brazil has become the most attractive market. Russia is a least attractive market due to a tough economic patch.
In recent time, high growth in the construction industry is some of the major drivers of global backhoe loader market. High growth in the construction industry is generating huge demand for backhoe loader to perform various tasks. In addition, versatility of backhoe loaders has also led to the demand of backhoe loader. Moreover, increased road construction activities and increasing number of power projects in developing countries such as India have also fueled the growth of global backhoe loader market. However, high prices of backhoe loader are key challenge for the global backhoe loader market. Increasing preference for center-mounted backhoe loader acts as an emerging trend for the global backhoe loader market.
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.
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