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The outbreak of corona virus disease throughout the world resulted in creating hefty losses for the backhoe loader manufacturers in 2020 as a result of decline in the demand for construction and other industrial equipments. The players were trying to recover from the previous situation but the imposition of lockdown in 2021 again is emerging as a challenge for the global companies to maintain their respective positions.

The market for backhoe loaders is highly fragmented with the presence of a number of large as well as small-scale manufacturers. The market players are giving tireless efforts and are adopting several tactics to stay in competition. The top five backhoe loader manufacturing companies in the world are:

• Caterpillar Incorporation:

Caterpillar Incorporation is the world’s leading corporation that manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its financial products offer retail and wholesale financing mainly for Caterpillar equipment, machinery and engines. It has been occupying a top position since long years through its innovative and diverse product portfolios.

• Komatsu Corporation:

Komatsu Corporation is a Japanese multinational corporation producing construction, mining and military equipments. Komatsu continues to maintain its second leading position in the backhoe loaders market. In some areas of Japan and China, it has a larger share than Caterpillar. It is engaged in improving its designing, manufacturing and selling activities to provide better services to the users. It has modified a wide range of construction and mining equipments, utilities, forestry machines and industrial machineries to increase its sales level. The constant efforts of the company are enabling it to stay more active and competitive.

• Deere & Company:

Deere & Company is a US-based company that deals in agricultural, construction, forestry machines, diesel engines, drive trains used in heavy equipment etc. It is primarily engaged in the manufacture of a wide range of construction equipments. The company provides backhoe loaders under its construction and forestry segment. It is also involved in providing financial and other related services. At present, the company is occupying the number three position in this market due to its strong sales for both of its brands - John Deere and Wirtgen brands including Benninghoven, Kleemann, Vogele and Hamm. Further, the investment made in the latest technology and advanced systems is boosting the fastest progress of John Deere.

• JC Bamford Excavators Limited:

JC Bamford Excavators Limited is the fourth largest backhoe loader manufacturer in the world. The company provides its product under two main segments- products and attachments. Earlier the company was at number eight but as it managed to bring constant improvements in its services, the company has jumped to number four resulting in increasing its market share and profitability throughout the world.

• XCMG Group:

XCMG Group, a Chinese manufacturer has managed to remain on the front line of the Chinese construction machinery industry. It has evolved into one of the largest, most influential and aggressive enterprises through its strong distribution network, sales contracts and highly advanced technology. XCMG Group is the fifth biggest construction machinery manufacturer in the world. The company is focusing on targeted developed markets such as North America and Europe to further boost its sales and revenues.