London, 24 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Backhoe Loader Market in North America 2014-2018, which is expected to grow at a CAGR of 8.96 percent during the forecast period of 2013-2018.
A backhoe loader is a type of earthmoving equipment that comprises a tractor unit fitted with a shovel at the front and a backhoe at the back. Backhoe loaders can be fitted with different attachments to carry out tasks such as digging, boring, loading, and excavation.
“As backhoe loaders are one of the most widely used pieces of equipment in the Construction Equipment industry, OEMs are focusing on developing backhoe loaders that function with maximum efficiency but minimum fuel-consumption and emissions,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Growth of the Construction Equipment Industry
- Expansion of Overseas Market
- Versatility of Backhoe Loaders
- Need to Replace Old Equipment
Key Market Trends
- Growth of Equipment Rental Business
- Rise in Demand for Energy-efficient Equipment
- Attractive Marketing Strategies
- Preference for Center-mounted Backhoe Loaders
Key Market Vendors
- Caterpillar Inc.
- J.C. Bamford Excavators Ltd. (JCB)
- Komatsu Ltd.
- Volvo AB
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
