Loader Buckets Market Accelerating At A 4.6% CAGR during the Forecast Period 2022 to 2029: FMI
Loader buckets have been used as an attachment in material handling equipment to load the debris of solid materials from the generated site towards other places or loading in the transporting vehicles. The loader bucket market will reach US$ 3.83 Billion in 2022 and see a promising 4.6% CAGR over the forecast period (2022 to 2029).
The market growth would rely directly on the growth pace of
the mining and construction industries estimated to be in the range of 3 – 4%,
respectively. Yet, the market is expected to have a notable spur in demand from
the waste recycling and management sector. Loader buckets are being
increasingly utilized in these industries with demand driven by off-road heavy
vehicles that are employed in waste management & recycling, construction,
and mining activities.
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Loader Bucket Market Key Takeaways
- With
healthy investments and implementation of construction projects undertaken
by public and private sectors, a global material handling equipment fleet
and subsequent sales are expected to augment, including the sales of
associated accessories and components such as bucket loaders.
- According
to the United Nations, for sustainable development, Asia Pacific would
need about US$ 1.5 Tn spending on infrastructural investment, which is
equivalent to 5% of the region’s GDP in 2018.
- Observing
the trends in the mining sector, it has been inferred that demand for
loader buckets is expected to be generated mainly from surface/open pit
mining for ferrous minerals and coal, with the Americas and Asia Pacific
being major mining hubs.
- General
purpose buckets are the most recognizable loader buckets as they are
capable of accomplishing versatile tasks such as dredging, mining,
demolition, excavation, landscaping, landfilling, grading, and heavy
lifting in harsh environments. This configuration is estimated to capture
almost one-third of the global loader bucket market share.
- Since
waste management has a strong linkage to many global challenges, the
incorporation of waste recycling facilities in many countries such as the
U.S., Germany, South Korea, and China has increased, in turn, creating
substantial market space for loader buckets.
The construction and mining sectors at present are the chief
employers of bucket loaders. However, the market will witness a significant
impetus from the waste management sector shortly.
The loader bucket market is estimated to be a fairly
consolidated market, where market players such as Komatsu Ltd., Caterpillar
Inc., and Deere & Company are expected to continue witnessing strong sales
order inflow and retain their dominance throughout the forecast period.
Brief Synopsis
The construction industry is playing a pivotal role in the
loader bucket market and is expected to bag high volume orders of loader
buckets in the global market. Though the mining industry is in a recovery phase
in Europe, the region is expected to demonstrate moderate growth in the loader
bucket market, backed by favourable end-use industry dynamics and increasing
concerns about waste management. Manufacturers of loader buckets are aiming to
offer low lifecycle costs and durable loader buckets.
What Does the Report Cover?
The global loader bucket market study published by FMI
offers an exhaustive analysis for the forecast period of 2022-2029. The loader
bucket study details market demand across all the regions and the identified
emerging countries.
The research also highlights competition scenarios,
demand-supply trends, a key consideration of suppliers, and economic
factors influencing the global loader bucket market. Additionally, the study
also explains the value chain potential in the global loader bucket market.
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