As an attachment to material handling equipment, loader buckets have been used to load solid waste from production sites into other locations or transport trucks. Over the projection period (2022 to 2029), the loader bucket market will grow at a promising 4.6% CAGR, reaching US$ 3.83 billion in 2022.
The mining and construction sectors’ growth rates, which are expected to be between 3 and 4%, respectively, would directly affect the market’s expansion. However, the waste recycling and management sector is anticipated to significantly increase its demand in the market. Off-road heavy trucks used in waste management & recycling, construction, and other fields are driving up demand for loader buckets in these industries.
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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.
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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.
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
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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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