The loader bucket attachments market was valued at more than US$ 2.63 billion in 2021 and is expected to grow at a CAGR of 4.6% to US$ 3.76 billion by 2029. The market for loader bucket attachments grew at a 3.7% CAGR from 2014 to 2021.
Garbage, sand, stones, timber, ice, and dust are all loaded and unloaded using a massive construction tool known as a loader. Use the bucket, which is attached to the opposite edges of the arms, to pick up and transport objects from the ground. The bucket assembly of the loader can be either temporary or permanent.
The functionality of loader buckets in bulk material handling equipment cannot be overstated. Increased volume sales are being driven primarily by rising safety standards and a significant demand for routine replacement of loader bucket attachments.
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Key Takeaways of Loader Bucket Attachments Market Study
- The rise in infrastructural projects with promising economic growth necessitates manufacturers of heavy-duty off road vehicles to increase efficiency and productivity, creating growth opportunities for players in the loader bucket attachments market.
- Prominent players in the loader bucket attachments market are striving to offer an extensive range of attachments and ground engaging tools. Additionally, these companies strive to offer new products in developing regions where end-use industries have registered double digit growth in the past, such as China, India, and Latin America.
- Between thumbs and grapples, grapples are estimated to gain more prominence, as they can be used to multitask, which leads to increased productivity in demolition, rock handling, scrap handling, and land clearing applications. Grapples are expected to gradually replace thumbs in the latter half of the forecast period.
- Amongst all the loader bucket attachments, ground engaging tools are gaining more acceptance in the loader bucket attachments market, owing to their better productivity.
- Cumulatively, the Americas and Europe have a notable installed base of bulk material handling equipment. The need for frequent maintenance due to safety concerns and the resulting volume sales of loader bucket attachments, coupled with growing concerns regarding proper waste handling is expected bolster the growth of the loader bucket attachments market.
“Increasing infrastructural investments, recovering mining industry, and the prevalence of waste management is anticipated to offer abundant opportunities to manufacturers in the loader bucket attachments market, especially in developing countries.”
Loader Bucket Attachments: Competition Scenario
The loader bucket attachments market is assessed to be a fairly consolidated market space, where players such as:
- Doosan
- MDS Manufacturing
- Hongwing Heavy Industry
- Komatsu
- Volvo
- ESCO Corporation
- John Deere
- Empire Bucket
- CNH Industrial
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Key Segments of Loader Bucket Attachments Industry Survey
Loader Bucket Attachments Market by Attachment:
- Attach Adapters & Couplers
- Blades
- Booms
- Forks
- Grapples
- Ground Engaging Tools
- Mounting Brackets
- Pushers & Snowplows
- Rakes
- Sweepers
- Thumbs
Loader Bucket Attachments Market by Region:
- North America Loader Bucket Attachments Market
- Latin America Loader Bucket Attachments Market
- Europe Loader Bucket Attachments Market
- East Asia Loader Bucket Attachments Market
- South Asia & Pacific Loader Bucket Attachments Market
- Middle East & Africa (MEA) Loader Bucket Attachments Market
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