LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global backhoe loaders market since 2017 and the market is poised to grow by USD 1.68 billion during 2019-2023, progressing at a CAGR of nearly 6% during the forecast period. Request Free Sample Pages
Read the 112-page research report with TOC on "Backhoe Loaders Market Analysis Report by Product Type (Side-shift loaders and Center-pivot loaders), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".
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The increasing investments in natural gas pipeline projects along with introduction of automation features are anticipated to boost the growth of the market.
The global consumption of natural gas is expected to rise by 10% during 2018-2023 due to availability of natural gas at lower-cost. This can be attributed to the rise in natural gas production in the US, Qatar, China, Iran, and Australia. Also, it emits 75% fewer nitrogen oxides and 50% less carbon dioxide in comparison to coal. The rise in natural gas consumption is leading to an increase in investments in the construction of natural gas pipelines for transmission and distribution. This is driving the demand for backhoe loaders because the construction of natural gas pipelines involves grading, trenching, loading, and dozing activities. Backhoe loaders exhibit multifunctionality, which makes them an ideal equipment in natural gas pipeline projects. Thus, the increasing investments in natural gas pipeline projects are expected to drive market growth during the forecast period.
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Major Five Backhoe Loaders Market Companies:
Caterpillar
Caterpillar is headquartered in the US and operates the business under various segments such as Construction industries, Resource industries, Energy and Transportation, and Financial products. The company offers 424B, a side-shift type backhoe loader, which comes with vertical stabilizers.
Deere & Company
Deere & Company is headquartered in the US and offers products through the following business units: Agriculture and turf net sales, Construction and forestry net sales, Financial services revenues, and Other revenues. The company offers 310L backhoe loader, which has a net peak power of 93 hp and a standard dipperstick depth of 14 feet.
JC Bamford Excavators
JC Bamford Excavators is headquartered in the UK and offers ICXT and 4CX ECO. ICXT is a compact tracked backhoe loader that can also be used as a skid steer and excavator. 4CX ECO is the largest backhoe loader offered by the company.
Komatsu
Komatsu is headquartered in Japan and offers products through the following business segments: Construction, Mining and Utility Equipment, Retail financing, and Industrial Machinery and Others operating segment. The company offers WB93R-5, which has a peak power of 99.2 hp and a bucket capacity of 36.34 cubic feet.
Manitou
Manitou is headquartered in France and offers products through the following business segments: Material handling and access division, Compact equipment product division, and Service and solutions division. The company offers BL844, which has a peak power of 90 hp and a lift height of 19 feet.
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Backhoe Loaders Product Outlook (Revenue, USD Million, 2019 - 2023)
- Side-shift backhoe loaders
- Center-pivot backhoe loaders
Backhoe Loaders Regional Outlook (Revenue, USD Million, 2019 - 2023)
- Americas
- APAC
- EMEA
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