Stakeholders in loader bucket attachments market are likely to devote a substantial portion of capital to ground engaging tools, focusing on productivity over product longevity
DUBAI, UAE / ACCESSWIRE / February 19, 2020 / In view of the massive demand in infrastructure projects, the global loader bucket attachments market is estimated to reach a value of US$ 3.8 Bn by the end of forecast period (2019 - 2029). The profit pool of manufacturers is set to expand by 1.6X through 2029, as projected by a new Future Market insights (FMI) study. The report attributes heightening uptake of loader bucket attachments to the building & construction industry in compliance with regulatory standards, and the regular need for replacements, concludes the new FMI study.
"Increasing infrastructural investments mining industry's resurgence, and growing need for waste management operations will generate numerous opportunities for manufacturers in the loader bucket attachments market, particularly in developing countries," says the FMI analyst.
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Key Takeaways of the Loader Bucket Attachments Study
- Ground engaging tools are gaining wider acceptance among end users, owing to higher rates of productivity.
- Demand for heavy duty off-road vehicles in infrastructure projects aids in the development of new product offerings.
- Grapple attachments are projected to gain higher traction in comparison to thumbs, owing to former's multitasking capabilities.
- The Americas and Europe are projected to hold a major market share, with demand concentrated in bulk handling equipment.
- Manufacturers seek growth opportunities in fast developing nations such as China, India, and some of the Latin American countries.
Loader Bucket Attachments Market - Top Growth Drivers
- Initiatives by local governments to bolster waste handling operations is generating major growth opportunities in market.
- Consistent growth of the building & construction industry is a key driver for the loader bucket attachments market.
- Increasing significance of safety standards set up by regulatory bodies such as OSHA continues to drive demand.
Loader Bucket Attachments Market - Key Restraints
- Loader bucker attachments require large capital investments for purchase, maintenance, repair & replacement, which restrain purchases.
Some of the prominent players include, but are not limited to, Caterpillar, AB Volvo, Komatsu Ltd., Doosan Corporation, JCB, CNH Industrial, and Deere & Company. Leading players are pushing to maintain the consolidated landscape to keep up their competitive advantage. For this purpose, they are undertaking multipronged strategies such as the development of extensive product ranges, expansion in developing regions, and investing in products for the waste handling industry. Moreover, manufacturers have opted for collaborations with various manufacturers and academic institutions for R&D activities for product innovations.
Explore 30 tables and 101 figures in the study. Request ToC of the report at https://www.futuremarketinsights.com/askus/rep-gb-11057
Learn More About the Report
The 200-page study offers an in-depth market forecast and analysis on the loader bucket attachments market. The major categories encompassed by the report include the attachment type (attach adapters & couplers, blades, booms, forks, grapples, ground engaging tools, mounting brackets, pushers & snowplows, rakes, sweepers, and thumbs) across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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SOURCE: Future Market Insights