May 27, 2022 04:37 ET | Source: Vantage Market Research Vantage Market Research

WASHINGTON, May 27, 2022 (GLOBE NEWSWIRE) -- Recently the demand for backhoe loaders has increased significantly. These loaders are leased or purchased directly from the manufacturers. The rise in demand for rental backhoe loaders is expected to generate revenue in the coming years. The mining industry is expected to witnessed high growth in recent years, where backhoe loaders are used for digging and excavation process, and are foreseen to cross USD 900 Million mark by the end of the forecast period. Owing to these factors in acceptance, superalloys are gaining huge importance in the global market, states Vantage Market Research, in a report, titled “Backhoe Loader Market Size, Share & Trends Analysis Report by Product Type (Center Pivot, Side shift), by Engine Power (Under 80 HP, 80-100 HP, Over 100 HP), by Distribution Channel (Direct sale (OEM), Indirect sales), by Digging Depth (Under 10 Feet, 10-15 Feet, Over 15 Feet), by Application (Construction, Agriculture, Small demolitions, Mining), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)” The Global Market size stood at USD 15.2 Billion in the year 2021.