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 Bn in 2022 and see a promising CAGR over the forecast period (2022 – 2029). The APAC (Asia Pacific) loader bucket market is expected to showcase fastest growth, majorly attributed to surging infrastructure activities in China, and India.
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The mining and construction industries, which are predicted to expand at rates of 3 to 4 percent each, would have a direct impact on the market’s growth. Yet, the waste recycling and management sector is anticipated to significantly expand its demand for the market. Off-road heavy trucks used in waste management and recycling, construction, and mining are driving up demand for loader buckets, which are being employed more and more in these industries.
Consumers are being urged by mounting environmental concerns to recycle and manage their waste. Initiatives to control garbage and recycle are essential for tackling environmental problems. Equipment for material handling is necessary for landfilling and other related tasks. Success in waste management is anticipated to come from the combined efforts of the public and commercial sectors.
Loader Bucket Market Key Takeaways
- With healthy investments and implementation of construction projects undertaken by public and private sectors, 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 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.
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At the moment, the largest industries using bucket loaders are the construction and mining industries. Yet, the waste management industry will soon give the market a considerable boost.
Market participants including Komatsu Ltd., Caterpillar Inc., and Deere & Company are anticipated to continue experiencing robust sales order inflow and maintain their dominance throughout the projected period. The loader bucket market is estimated to be a very concentrated market.
Brief Synopsis
The construction sector is a key player in the loader bucket market and is anticipated to secure significant orders for loader buckets on the international front. Despite the fact that Europe’s mining sector is in a recovery phase, the area is predicted to experience moderate expansion in the loader bucket market, supported by favourable end-use industry dynamics and rising waste management concerns. Low lifecycle costs and sturdiness are priorities for loader bucket manufacturers.
Loader Buckets Market by Category
By Capacity :
- Below 1 yd3
- Between 1 yd3 to 5 yd3
- Above 5 yd3
By Bucket :
- General Purpose Buckets
- Light Material Buckets
- Heavy Duty Buckets
- Multi-purpose Buckets
By Loader :
- Excavators
- Wheeled Backhoes
- Wheeled Loaders
- Skid Steer Loaders
- Others
By Application :
- Rock
- Woodchip
- Coal
- Sand & Gravel
- Waste Handling
- High Dump
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By Fit Type :
- First Fit
- Re-Fit
By End Use :
- Construction
- Mining
- Waste Management & Recycling
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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