Los Angeles, CA -- (SBWIRE) -- 08/22/2019 -- The global backhoe loaders market is foretold to gain significant growth in the residential construction industry. Improvement in disposable income and aggressive population growth in emerging countries are expected to push the construction demand, which could augur well for the global market. Leading manufacturers are anticipated to expand their dealer network to extend their global reach. In June 2019, JCB announced ReadyQuip JCB as its new dealer in Canada.
The global backhoe loaders market is prophesied to witness the launch of new and improved products in the coming years. In April 2019, John Deere added three new backhoe attachments to its portfolio, viz. BH11B, BH10B, and BH9B. These backhoes are applicable for use in utility, landscaping, agricultural, and construction works.
What are the Factors Increasing Demand for Tractor Backhoe Loader
Urban engineers and small construction project managers are predicted to increase the demand for tractor backhoe loaders owing to their efficient use in material handling and digging applications. Key factors such as ease of use, ability to operate in challenging spaces, and versatility could help to further increase the demand for tractor backhoe loaders. Compared to traditional machinery and equipment that usually require higher investment, tractor backhoe loaders could operate with a decent performance level at lower cost.
Backhoe loader rental companies offering cost-effective services are anticipated to expand their customer base in future. Government initiatives encouraging the development of infrastructures such as railways, roads, airports, and seaports are foretold to support the growth of the global backhoe loaders market.
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By Product Type
? Center Pivot
? Side Shift
By Application
? Construction
? Agriculture
? Mining
? Others
According to market experts, the center pivot segment is expected to show dominance in the global backhoe loaders market in terms of sales. It could earn substantial revenue in the coming years and take advantage of large demand available in North America. Among applications, construction is projected to secure a remarkable share of the global market because of the high demand for compact and technologically sophisticated backhoe loaders.
By Region
Analysts forecast North America to take hold of a commanding share of the global backhoe loaders market as it banks on the extensive growth of the infrastructure industry, especially in the US and Canada. Europe is expected to trail North America in terms of market growth.
Dealers of Backhoe Loaders to Create Seasonal Offers and Savings Options
The report covers key players of the global backhoe loaders market, including Hydrema, Hitachi, Ltd., Fiat, Escorts Group, Bharat Earth Movers Limited, Bell Equipment Limited, YANMAR CO., LTD., Volvo Construction Equipment, TerraQuip Construction Products, Inc., Kubota, Komatsu Limited, Doosan Corporation, Mecalac, Mahindra Construction Equipment, Deere & Co, LiuGong Construction Machinery, LLC, CNH Industrial America LLC, Terex Corporation, Caterpillar Inc., and JCB, Inc.
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