Jan 24, 2018
6 Key Projections on Backhoe Loaders Market for Forecast Period 2017 - 2026
by Team Fact.MR
Backhoe loaders are being used on a large scale in small construction projects. Owing to the increasing construction activities, backhoe loaders are witnessing huge demand. With the increasing use, backhoes equipped with attachments such as augers, breakers and grapples and other attachments are being used on a large scale. Manufacturers of backhoe loaders are focusing on design and weight of the backhoe as the heavy weight of backhoe can cause the vehicle to tip. Hence, small frame and precise control in backhoe loaders are being provided by manufacturers.
Meanwhile, compact tractor loader backhoes are also gaining popularity when operator needs to perform both loading and digging task. Also, compact tractor loader backhoe can move material much faster over a distance compared to excavator. Automation features are also being integrated into tractor loader backhoes for easy control and to increase productivity. Next generation backhoe loaders with advanced telematics system to monitor and manage machine remotely are also being introduced by manufacturers.
As per the latest market research report by Fact.MR, the global backhoe loaders market is expected to witness steady growth. In terms of value during 2017-2026, the market is estimated to register 5.4% CAGR. In terms of volume, 146,518 units of backhoe loaders are estimated to be sold by the end of 2026. Following are the insights on how the global backhoe loaders market will perform in the coming years.
6 Forecast Highlights on Global Backhoe Loaders Market
- Asia Pacific Excluding Japan (APEJ) is expected to witness the highest growth in terms of both value and volume. APEJ is estimated to bring in nearly US$ 1,600 million revenue by the end of 2026. Significant growth in construction of dams and canals and increasing number of power projects in China and India are contributing towards the growth of backhoe loaders market in APEJ.
- North America followed by Europe are also expected to witness growth in the coming years. Substantial growth in infrastructure in countries like the U.S., Canada, Germany, France, and Italy are driving the demand for backhoe loaders in both the regions.
- Center pivot is expected to be the most preferred product in the global backhoe loaders market. By the end of 2026, center pivot is estimated to bring in more than US$ 3,000 million revenue.
- 80-100 HP engine is expected to witness the highest growth in the market during the forecast period. 80-100 HP engine is estimated to exceed US$ 1,600 million revenue by 2026 end.
- Backhoe loaders with the maximum digging depth of 10-15 feet are expected to gain traction in the market. Towards the end of 2026, backhoe loaders with digging depth of 10-15 feet are estimated to create an incremental opportunity of over US$ 600 million during 2017-2026.
- The construction sector is expected to account for the largest use of backhoe loaders. By the end of 2026, construction sector is estimated to exceed US$ 1,900 million revenue.
The report has also profiled leading players in the global market for backhoe loaders, which will remain active through 2026. These include companies such as JCB,Inc., Caterpillar Inc., Terex Corporation, CNH Industrial America LLC, LiuGong Construction Machinery, LLC, Deere & Co, Mahindra Construction Equipment, Mecalac, Doosan Corporation, Komatsu Limited, Kubota, TerraQuip Construction Products, Inc., Volvo Construction Equipment, YANMAR CO., LTD., Bell Equipment Limited, Bharat Earth Movers Limited, Escorts Group, Fiat, Hitachi, Ltd., and Hydrema.