Global Backhoe Loaders Market 2019-2023| Rising Focus on Using Specialty Construction Equipment Drives Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 13, 2018--Technavio ’s global backhoe loaders market research report forecasts the market to grow at a CAGR of around 6% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113005815/en/
Technavio has released a new market research report on the global backhoe loaders market for the period 2019-2023. (Graphic: Business Wire)
The increasing use of telematics in compact and small construction equipment will be one of the major trends in the 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.
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.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181113005815/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING OTHER MANUFACTURING CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/13/2018 09:59 AM/DISC: 11/13/2018 09:58 AM