Loaders are heavy machines designed for use at construction and mining sites to clean an area by removing waste material, such as debris, dirt, rocks, sand and mud and dumping it into another vehicle. Now a days, the demand for loaders is increasing, owing to numerous ongoing and upcoming construction & mining projects. The increasing number of malls, highways, and commercial & residential buildings are spurring demand for the loaders market. Offsite (also known as prefabricated or modular building) has also gained a trending opportunity for the loaders market, owing to less wastage of time and possible cost savings. Moreover, the green building concept for commercial & residential projects has started catching up. Manufacturers are making environment friendly structures to combat global warming.
Rural and semi-urban areas are shifting from labor intensive work to mechanization. Even in small construction projects, customers are opting for small backhoe loaders for earth digging, leveling and other work. Therefore, mechanization can create immense opportunities for growth of the loaders market. Government schemes, such as PMGSY, RDCs and NREGA have led to mechanization and the increased sale of loaders.
In developing economies, such as India, China, Brazil and Argentina, urbanization is taking place at a relatively fast pace and contributes to growth of the construction industry, which in turn will spur demand for the loaders market. With government support in providing loans and increase in FDI, investments and subsidies, the construction of commercial spaces is increasing day by day. Moreover, rising population has generated a growth in demand for residential areas, which will also support the demand for loaders.
Stringent emission norms related to construction & mining equipment are restraining the demand for loaders. Government agencies, such as EPA (Environmental Protection Agency) levy heavy fines on manufacturers who do not meet standard norms, primarily due to the reason that the construction industry uses more diesel engines than other sectors. However, these norms vary from region to region. For instance, new machinery in North America and Europe must comply with yet more stringent emission regulations as compared to other parts of the world.
A majority of manufacturers are integrating GPS machine control systems into the design of loaders. Installation of machine control systems in their equipment helps improve efficiency and allows the user the ability of working remotely without being physically present on sites. Additionally, by reducing the need for rework and minimizing material wastage, machine control can help improve the sustainability of operation. Moreover, integration of GPS helps minimize injuries at construction sites. For instance, if workers use a GPS system for their equipment, it would enable them to work from a specific distance without being present at the site.
Renting and leasing also comprise a trending opportunity for the loaders market. These loaders are relatively expensive and hence, renting or leasing them is a feasible alternative as compared to purchasing them. Leasing opens up an opportunity for builders to customize the equipment for their project’s purposes and get high level personal advice and technical support.
Loaders Market Segmentation By Product Type – Backhoe Loaders, Wheeled Loaders, Crawler/Track Loaders, Skid steer Loaders, Mini Loaders; By Basis Of Power – Light Duty, Medium Duty, Heavy Duty
Examples of some of the market participants identified in the loaders market across the globe are: Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Terex Corporations, Volvo Construction Equipment,,J.C. Bamford Excavators Limited, CNH Industrial N.V., Liebherr Group, Deere & Company, Xuzhou Construction Machinery Group Co. Ltd., Doosan Corporation
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