Increasing Urbanization and Increasing Investment in Infrastructure Sector to Augment Growth of Backhoe Loaders Market

 

Backhoe Loaders Market

Increasing urbanization is expected to propel growth of the global backhoe loaders market. For instance, according to the World Bank, the urban population in China increased from 49.22% in 2010 to 60.3% in 2019. Moreover, increasing number of housing units is also expected to aid in growth of the market. For instance, according to The U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in 2019, an estimated 1.290 million housing units were started in the U.S., witnessing an increase of 3.2% compared to 2018.

Increasing investment in the infrastructure sector is expected to offer lucrative growth opportunities for players in the global backhoe loaders market. For instance, in February 2020, The U.S. Department of Transportation published a Notice of Funding Opportunity to apply for US$ 1 billion in 2020 for upgrading infrastructure across the U.S. Moreover, launch of new products is also expected to aid in growth of the market. For instance, in January 2021, Caterpillar launched five new backhoe loaders operating in the 14-foot and 15-foot size classes, the 415, the 416 420, 420 XE and 430 models.

Among regions, North America is expected to witness significant growth in the backhoe loaders market, owing to launch of fully electric backhoe loaders. For instance, in March 2020, National Grid and AVANGRID companies, New York State Electric and Gas and Rochester Gas & Electric became the first utilities in the U.S. to incorporate fully electric backhoe loaders in their fleets.

Competitive Analysis

Major players operating in the global backhoe loaders market include, Caterpillar, Inc., Deere & Company, Komatsu Ltd., Mahindra Construction Equipment, Volvo Construction Equipment, J C Bamford Excavators Ltd., Terex Corporation, CNH Industrial NV, Manitou Group, Action Construction Equipment Ltd., and Hitachi Construction Machinery Co., Ltd.

Major players operating in the global backhoe loaders market are focused on launching new products to expand their product portfolio. For instance, in September 2020, J C Bamford Excavators Ltd. introduced a 55kW 3CX backhoe loader with an EU Stage V compliant engine.

Major players operating in the global backhoe loaders market are focused on launching dual-fuel CNG (Compressed Natural Gas) backhoe loaders to expand their product portfolio. For instance, in November 2020, JCB India Limited launched dual-fuel CNG (Compressed Natural Gas) Backhoe Loader in India. 

Comments

Post a Comment

Popular posts from this blog

Astrum Has Expanded Its Presence In India Infrared Thermometer Market

Image
  The Infrared Thermometer market is witnessing the fastest growth in the Asia Pacific region and this can be accredited to the growing aging population in the region which is driving demand for healthcare services. Japan has the highest growing aging population in the country. According to the Statistics Bureau, Ministry of Internal Affairs and Communications, in 2019, the aged population (65 years old and over) was 35.89 million, constituting 28.4 percent of the total population (i.e., 1 in every 4 persons) and marking a record high in Japan. The rise in prevalence of infectious disease and increase in the demand for the product for newborns as children cannot hold the contact thermometer is playing a key role in the overall development of the infrared thermometer market . According to the World Health Organization, HIV, tuberculosis, malaria, neglected tropical diseases, and viral hepatitis affects billions of people around the world and causes more than 4 million deaths each year
Read more

The Global Meningococcal Vaccines Market Continues To Grow Owing To the Demand from Healthcare Care Sectors across the World to Prevent the Spread of the Diseases Especially In Children

Image
  Meningococcal vaccines prevent the contraction of meningococcal diseases, including meningitis caused by the bacteria called meningococcus aureus. An outbreak of meningococcal disease is usually followed by an onset of meningitis. Meningococcal meningitis can cause permanent damage to the brain or spinal cord in as little as 10 days, depending on the degree of infection and the natural immunity of the person. Since meningitis is usually associated with a fever and signs and symptoms of a serious illness, many parents prefer not to use the traditional treatments for their children such as meningitis or oral antibiotics. Instead, they often resort to various forms of therapeutic interventions that may even improve their chances of developing a positive outcome. Meningococcal vaccines are now available for meningococcal meningitis, as well as for men who have had other prior bouts of meningitis. Some vaccines used for these purposes are PPSV, Rallo, and Q fever type 1. These vaccines
Read more

Increasing Geriatric Population Is Driving the Growth of the Sexual Health Market

Image
       Sexual health is an important part of a person’s physical and mental health. According to the World Health Organization (WHO), sexual health requires a respectful and positive approach to sexual relationships and sexuality, as well as the possibility of having pleasurable and safe sexual experiences, free of coercion, violence, and discrimination. Sexual health leads to a healthy sex life without any sexually transmitted diseases, and to take preventive measures to avoid sexually transmitted infections. The elderly population (geriatric population) often suffer from one or more sexual disorders, such as premature (early) ejaculation, erectile dysfunctions, dyspareunia, and hypoactive sexual desire disorder, among others. Thus, with the increasing geriatric population worldwide, the prevalence/incidence of sexual disorders is also increasing, driving the growth of the sexual health market . According to WHO, the world's population aged 60 years and older is expected to tota
Read more