Loader Bucket Market

Loader Bucket Market Outlook (2022 to 2029)

Recycling & Waste Management Initiatives Drive Market Growth

Growing environmental concerns are driving consumer inclination towards waste recycling and management. Recycling and waste management initiatives are playing a key role in tackling environmental challenges. Material handling equipment plays an important role in landfilling and other related activities. Success in waste management is expected through the combined efforts of both, public and private industries.

Every year, over 2.1 Billion tonnes of municipal waste is generated and needs to be recycled, of which, 468 Million tonnes are generated in East Asia and the Pacific region. Hence, material-handling equipment is gaining traction on a large scale, especially in privately-operated sectors and at composting sites; thereby, augmenting the demand for material-handling components such as loader buckets.

Recovering Mining Industry to Bolster Sales

The mining industry, like construction and oil & gas, has seen a significant downfall during the first half of the decade. Geo-political factors, trade wars, and unstable governments have affected the industry in various countries. The growth of the mining industry is an important economic driver in countries like Chile, Venezuela, Peru, etc.

Recent trends have suggested a resurgence of the mining industry in major countries and a 53% rise in mining activities is expected in the next decade. This growth will create increased demand for material handling equipment, in turn, driving the demand for accessories such as loader buckets.

How The Market Progressed Till June 2022?

Market Statistics	Details
H1,2021 (A)	4.4%
H1,2022 Projected (P)	4.5%
H1,2022 Outlook (O)	4.2%
BPS Change : H1,2022 (O) - H1,2022 (P)	(-) 33 ↓
BPS Change : H1,2022 (O) - H1,2021 (A)	(-) 17 ↓

Future Market Insights presents a comprehensive comparison and review analysis of the load bucket market which is principally subjected to growth with the upsurge in infrastructural and construction projects.

The demand for material handling equipment, such as loader buckets, is increasing along with the number of infrastructure and construction projects because they are more effective at carrying and transporting construction aggregates to the required locations.

According to FMI analysis, the change in BPS values seen in the market for load buckets between the projected and current estimates for the first half of 2022 is anticipated to be a 33-unit decline. However, according to the most recent projections, the market is expected to experience a 17 basis point decline in H1-2022 compared to H1-2021.

This variation in growth rates is the result of limitations in the mining, construction, and oil and gas industries brought on by factors like geopolitical situations, trade conflicts, and unstable governments in various countries.

The construction industry is one of the key sectors that significantly contribute to the economic growth of any country. Infrastructure development activities are expanding quickly in order to increase productivity and efficiency, which has resulted in high demand for construction equipment.

Compact construction equipment, which is more reasonably priced and is revolutionizing the market for loader buckets because it can be used in confined spaces like small homes and businesses, includes wheeled loaders, skid steer loaders, and mini excavators.

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Increasing Infrastructural Projects to Create Lucrative Opportunities

The construction sector is one of the major giants playing an important role in any country’s economic development. Rapidly increasing infrastructural development activities are creating demand for construction equipment to increase efficiency and productivity.

Three of the five countries in Asia Pacific (China, India, and Japan) are cited as countries with the greatest infrastructure needs (39% of the global infrastructure investment needs). This, in turn, is fueling sales of heavy-duty off-road vehicles for moving debris and other construction aggregate materials as well as transportation of raw ore and aggregate from one place to another efficiently.

LOADER BUCKET MARKET: STRUCTURE ANALYSIS

• The global loader bucket market landscape is fairly consolidated by multi-billion dollar players.
• Primary trends identified among loader bucket manufacturers are focus on aftersales services, low lifecycle cost-oriented product offerings, and expansion of footprint in developing countries.
  • In 2018, Wacker Neuson Group opened a new production plant and Research and Development center for loader buckets at Pinghu, near Shanghai. The company has been distributing construction equipment in China for the past 2 decades and has established a robust sales and service network over these decades.
• Major players in the loader bucket market are Komatsu Ltd., Liebherr, Volvo AB, Caterpillar Inc., Doosan Corporation, Deere & Company, J C Bamford Excavators Ltd., Wacker Neuson Group, and Takeuchi Mfg. Co, Ltd., ESCO Group LLC, Kenco Corporation, and VTN Europe S.p.A, among others

Demand Upswing in Construction Sector

With the upsurge in infrastructural and construction projects, material handling equipment, including loader buckets, is garnering significant traction for carrying construction aggregates as well as transporting them to desired places efficiently. The construction sector is portraying a vital role in contributing to the economic development of a majority of countries. Prominent construction companies registered collective revenue of USD 1.4 Trillion last year, the majority of which are situated in China and Europe.

FMI finds that sales of construction equipment recorded 1 Million units globally in the previous year, and are progressing at a dexterous pace. Whilst the worldwide construction industry is projected to surpass USD 24 Trillion by 2021 end, with China, India, Russia, and Turkey exhibiting double-digit growth. Such promising prospects in construction demesne accents worthwhile sales of loader buckets in the near future.

Europe Preeminent, APAC Catches Up

Europe remains in the driver’s seat in the global loader bucket market, outreaching USD 1.7 Billion by the end of the forecast period. The shift from landfills to waste to energy plants represents noteworthy transmutation in waste management. The APAC (Asia Pacific) loader bucket market is expected to showcase the fastest growth, majorly attributed to surging infrastructure activities in China, and India.

Under its ongoing five-year plan, China is heavily investing in infrastructure projects, such as housing developments and renovation. India, under its 100 Smart Cities Mission, is undergoing massive infrastructure upgradation.

Manufactures Bank on Industrial Automation for Optimized Workplaces

With industrial automation continuing to take the industry by storm, manufacturers of loader buckets are walking an extra mile to minimize on-site mishaps. They are focusing on the development of automatic loader buckets. Volvo Construction Equipment is planning to develop remote-controlled wheel loaders based on Sweden’s 5G network for industrial purposes in Eskilstuna. The new-age wheel loaders are pre-programmed for their deployment without compromising the flexibility factor.

How Growth will Unfold?

As heavy material handling must comply with the safety and reliability parameters, excavators are gathering traction at a rapid pace. Excavators continue to remain at the forefront with almost half a share of the loader bucket market throughout the projected period.

On the other side, more affordable variants such as compact construction equipment, including skid steer loaders, wheeled loaders, and mini excavators, are emerging as a game-changer in the loader bucket market as they find application in small commercial and residential locations. The adoption rate of skid steer loaders (SSL) and wheeled loaders are faster than their counterparts.

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

Frequently Asked Questions

What is the current loader buckets market value?

The loader buckets market is expected to surpass a valuation of USD 3.83 Billion in 2022.

At what rate did the sales of loader buckets grow between 2014 to 2021?

The global loader buckets market grew at a 4.0% CAGR over the past assessment period of 2014 to 2021.

At what rate will loader buckets market grow between 2022 and 2029?

The loader buckets market is expected to register steady growth, expanding at 4.6% CAGR between 2022 and 2029.

Which is the most lucrative market for loader buckets?

Europe currently leads the global loader buckets market, holding more than 35.3% of the total market share.

What is the South Asia loader buckets market outlook?

The South Asia loader buckets market will hold a significant share accounting for nearly 13.3% of the revenue share in 2022.

Which bucket segment accounts for maximum loader buckets sales?

In terms of buckets, the general-purpose segment is expected to account for 1/3rd of sales in the global loader buckets market through 2029.