The increasing use of telematics in compact and small construction equipment will be one of the major trends in the global backhoe loaders market during 2019-2023. Several major construction equipment manufacturers have been adhering to the rising trend of providing telematics as a standard or optional feature for compact and small construction equipment including backhoe loaders. Some of the commonest types of information availed by the onboard telematics on a backhoe loader are GPS location and the run time of the equipment.
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According to Technavio’s analysts, one of the key drivers for the global backhoe loaders market is the growing focus on using specialty construction equipment in developed markets:
Global backhoe loaders market: Growing focus on using specialty construction equipment in developed markets
The developed countries in North America and Western Europe are major contributors to the revenue growth of the global construction equipment market. The necessity for high design, build, and performance characteristics of construction equipment in these markets keeps the average selling price of this equipment higher than that of the developing or emerging markets.
According to a senior analyst at Technavio for research on construction, “Owing to the increasing focus on enhancing the productivity of construction activities, there has been an increase in the adoption of excavators and bucket loaders in the global construction equipment market. The increasing sales of backhoe loaders in the emerging and developing economies have been contributing to the steady growth of the backhoe loaders market.”
Global backhoe loaders market: Segmentation analysis
This global backhoe loaders market analysis report provides market segmentation by product (side-shift backhoe loaders and center-pivot backhoe loaders) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the side-shift backhoe loaders segment held the largest backhoe loaders market share in 2018, contributing to over 61% of the market. This product segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for around 47% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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