The fast pace at which industrialization is occurring across the globe is driving the construction and building industries from a couple of decades. This in turn has fueled the demand for wheel loaders, states Transparency Market Research (TMR) in its latest report. The report is titled “Wheel Loaders Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024 Top of Form.” The rapid urbanization, especially in the emerging economies is creating a heightened demand for wheel loaders. One of the other important factors fueling the growth of the global wheel loaders market is the demand for armored wheel loaders from the defense and military sectors. Wheel loaders have been proved efficient for combating engineering missions in hostile territories, which is also driving their demand. In addition to this, armored wheel loaders are increasingly being used for removing road blocks, building bases and bridges and similar other activities.
The flexibility provided by wheel loaders is unmatched and thus, they are preferred over large bulldozers. The ease at which tasks are completed by wheel loaders is another reason boosting their demand. On the basis of geography, the wheel loaders market is segmented into North America, Asia Pacific, Europe, and the Rest of the World. Of these, Asia Pacific and Europe are anticipated to be key markets for wheel loaders.
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The wheel loaders market is segmented on the basis of end- use application, bucket, net operating power, and type of wheeler. On the basis of type, the market is segmented into backhoe loader, front loader, compact loader, and armored wheel loader. By net operating power, the market is segmented into 20 – 40 hp, 40 – 80 hp, 80 – 120 hp, 120 – 160 hp, and 160 hp and above. On the basis of type of bucket, the market is wheel loader market is segmented into wedge bottom bucket, backhoe bucket, flat bottom bucket, demolition bucket, and excavating buckets. On the basis of end use, the market is segmented into stone quarries, construction sites, mining zones, public sectors, and military & defense.
The report profiles key players within the global wheel loaders market. The names of leading players in the market are: Caterpillar Inc., Deere & Company, Hitachi Ltd., Kawasaki Heavy Industries, Limited, Larsen & Toubro Limited, Komatsu Ltd., and New Holland Construction. The business and financial overview of these companies are studied. The strategies adopted by leading players for expansion in the market are also revealed in the report. The recent developments by these companies are also covered.