LOS ANGELES, June 28, 2019 /PRNewswire/ -- 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 Loaders
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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Important Points to Remember
- Adoption of tractor backhoe loaders in urban engineering and small construction projects to increase demand
- Center pivot backhoe loader to show impressive sales in the global market
- Focus on infrastructure development to create profit-making opportunities in the construction industry
- North America to take lead with high sales of backhoe loaders in the construction and infrastructure market
Report Buyers Provided with In-depth Price Analysis
The comprehensive and accurate price analysis provided in the report explains the strategic significance of prices in the global backhoe loaders market. It helps backhoe loader manufacturers and dealers to decide on the right prices for their various products and services. It shows how product positioning and marketing strategies are built on the basis of the combination of critical factors such as price, promotion, and distribution. Pricing situations are evaluated with the help of the assessment of ethical and legal constraints, competition analysis, determination of product cost, and examination of the responsiveness of product markets to price.
By Product Type
- Center Pivot
- Side Shift
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.
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.
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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.
Companies are foreseen to concentrate on maintaining the ideal weight, size, and design of backhoes as any miscalculation could cause imbalance in the standing position of the backhoe loaders or when they are moving. Furthermore, miscalculated specifications of backhoes could hamper the overall functionality of the backhoe loaders. Dealers are anticipated to create attractive offers and offer discounts on select backhoe loaders to increase their sales growth. In June 2019, Hawthorne Cat, a US dealer of rental, new, and used Caterpillar equipment, provided its customers with special offers and summer savings on the purchase of some Cat machines, including backhoe loader.
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