DUBLIN, July 27, 2017 /PRNewswire/ --
The "Global Backhoe Loaders Market 2017-2021" report has been added to Research and Markets' offering.
The global backhoe loaders market to grow at a CAGR of 5.88% during the period 2017-2021.
The report, Global Backhoe Loaders Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
- Deere & Company
- J C Bamford Excavators
- XCMG Group
Other prominent vendors
- Action Construction Equipment
- Bobcat Company (Doosan)
- Bull Machine
- CNH Industrial
- Escorts Group
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/6rfvgc/global_backhoe
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SOURCE Research and Markets