Research Reports
Sales of Backhoe Loaders Market to Register 5.4% CAGR Through 2026
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The Backhoe Loaders Market is set to grow at a 5.4% CAGR through 2026, driven by construction and agriculture sectors, with significant contributions from Asia Pacific.
Companies in the Backhoe Loaders Market are increasing their efforts to safeguard the health of workers and employees, resulting in shutdown of production plants and trade activities due to the novel COVID-19 (Coronavirus). Learn how companies in the Backhoe Loaders Market are responding to emergency situations of its clients to maintain smooth flow of business activities. This and many more business strategies are enclosed in our reports that share information on alternate tactics to capitalize on rare opportunities owing the spread of Coronavirus.
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Global backhoe loaders market has witnessed considerable growth in the past few years in the residential and construction sector, owing to rapid population expansion and a significant rise in household disposable incomes in the developed as well as developing countries. The growth in the number of construction projects, is anticipated to have a high impact on the backhoe loaders market over forecast period. The report estimates that, as compared to 2019, the market will witness a 1.4X growth to reach a valuation of ~US$ 3.5 Bn by the end of 2026.
Further, agriculture sector is likely to emerge as an attractive end use segment in the global backhoe loaders market, and is expected to capture 22% of the overall absolute dollar opportunity created over the forecast period.
In addition, factors such as significant mining activities, increasing energy requirements, and presence of leading backhoe loaders manufacturers will continue to support the backhoe loaders market especially in Asia Pacific excluding Japan, Europe, and North America, reveals Fact.MR.
Key Takeaways of Backhoe Loaders Market
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Maneuverability & Fuel Efficiency remains Prime Focus for Key Backhoe Loader Manufacturers
The report reveals some of the prominent market players, including JCB, John Deere, Caterpillar Inc., CNH Industrial. Among others, prominent backhoe loaders are continuously focusing on launching new products in order to cater to the increasing demand from various end use verticals. For instance,
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The article discusses the growth of the Backhoe Loaders Market, focusing on its expansion through 2026.
COVID-19 has led to shutdowns, impacting production and trade, but companies are adapting to maintain business flow.
Asia Pacific and North America are leading the market growth, accounting for a significant share of the global market.
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