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Backhoe Loaders Market

Backhoe Loaders Market by Product Type (Center Pivot, Sideshift Backhoe Loaders), by Engine Power (Under 80 HP, 80-100 HP, Over 100 HP), by Digging Depth (Under 10 Feet, 10-15 Feet, Over 15 Feet), by Applications (Construction, Agriculture, Mining) & by Region - Global Insights 2032

Analysis of Backhoe Loaders market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Backhoe Loaders Market Outlook (2022-2032)

The global backhoe loaders market is expected to garner a market value of US$ 2.67 Billion in 2022 and is expected to accumulate a market value of US$ 5.25 Billion by registering a CAGR of 7% in the forecast period 2022-2032. The global backhoe loaders market is growing significantly, due to growing demand for construction equipment to meet commercial, residential and infrastructural needs globally. The market for backhoe loaders registered a CAGR of 4% in the historical period 2017-2021.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 2.5 Billion

Expected Market Value (2022)

US$ 2.67 Billion

Projected Forecast Value (2032)

US$ 5.25 Billion

Global Growth Rate (2022-2032)

7% CAGR

Expected Market Share of the U.S. Market (2032)

40%

Anticipated Market Value of Europe (2022-2032)

45%

Major Backhoe Loaders Service Providers

  • Caterpillar Inc.
  • Deere & Co
  • CNH Industrial N.V
  • Komatsu Ltd
  • Mahindra & Mahindra Limited
  • Terex Corporation
  • Hitachi Construction Machinery Co., Ltd
  • JCB, Inc
  • Guangxi LiuGong Machinery Co., Ltd

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Revenue Analysis of Backhoe Loaders from 2017-2021 Vs Market Projections for 2022 to 2032

Demand for backhoe loaders is projected to witness robust growth during the forecast period, due to the heavy investments in infrastructure and construction. The mining industry has also witnessed high growth in recent years, where backhoe loaders are used for digging and excavation process, and are foreseen to cross US$ 700 Mn mark by the end of the forecast period by contributing over 21% in the overall absolute dollar opportunity created.

In addition, increasing focus on development of smart cities and growth of infrastructure industry is leading to increasing demand for backhoe loaders. This is leading to demand for construction equipment. Thus, the sale of backhoe loaders is expected to increase in the forecast period 2022-2032.

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Which are Some Prominent Drivers of Backhoe Loaders Market?

Urbanization increasing demand for backhoe loaders in different countries

Growing urbanization across the globe has increased the demand for construction of commercial and residential infrastructure. Moreover, the global construction industry has witnessed significant demand in the recent past, owing to increasing population.

Furthermore, development of smart cities has paved way for construction of highways across cities. This, in turn, has created humongous demand for backhoe loaders. In addition, growth of agriculture sector is further shaping the landscape for backhoe loaders.

Government initiatives increasing demand for backhoe loaders

Regions such as North America, Europe and Asia Pacific are major contributors to backhoe loaders. This is owing to the increasing investments by government authorities in construction and development industries.

This, in turn, has opened doors of opportunities for manufacturers of backhoe loaders. Thus, growing investment in infrastructure projects is expected to drive the global backhoe loaders market growth over the forecast period.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

What are the Challenges Faced by the Backhoe Loaders Market?

Mini excavators restraining demand for backhoe loaders

Product launch of competitive products that include mini excavators is leading to the declining demand for backhoe loaders. In addition, the price similarity between backhoe and mini excavators is restraining the growth of the market.

Moreover, high sales of these competitive products have hampered the demand for backhoe loaders in the recent past. Mini excavators or compact wheel loaders perform many jobs that a backhoe loader does. Thus, availability of such competitive products is expected to hinder the market growth.

Comparative View of Backhoe loaders Markets

Backhoe loaders Market:

Attributes

Backhoe loaders Market

CAGR (2022-2032)

7%

Market Value (2032)

US$ 5.25 Billion

Growth Factor

Increase in construction and infrastructure projects is bolstering the demand for backhoe loaders.

Opportunity

Development of smart cities is creating lucrative opportunities for backhoe loaders.

Used Backhoe Market:

Attributes

Used Backhoe Market

CAGR (2022-2032)

5%

Market Value (2032)

US$ 4 Billion

Growth Factor

Growing demand for low-cost construction equipment boost up sales for used backhoe is creating lucrative opportunities for used backhoe.

Opportunity

Low budget construction projects are heavily showing the demand for used machinery & equipment for cost reduction associated with project work is fueling the growth of used backhoe.

Construction Equipment Market:

Attributes

Construction Equipment Market

CAGR (2022-2032)

4%

Market Value (2032)

US$ 174 Billion

Growth Factor

Favorable government initiatives, such as stimulus packages and lower housing rates, which influenced consumers to purchase new houses, are expected to drive market growth during the forecast period.

Opportunity

Increased construction spending and rapid urbanization is accelerating demand for construction equipment

Region-Wise Insights

Investments in Infrastructure Development are foreseen to Reinforce Demand in Asian Countries?

Public & private partnerships contributing to backhoe loaders market growth in Asia Pacific

Countries such as India and China in the APEJ region are the key markets, owing to the number of public private partnership projects in both countries. India is a prime market for backhoe loaders, with a significant number of public private partnership projects. APEJ is foreseen to cross ~US$ 1.5 Billion mark by the end of the forecast period by over half of the overall absolute dollar opportunity.

Growth of Construction Projects Propelling Demand for Backhoe Loaders in North America?

Development of prominent countries increasing demand for backhoe loaders

The development of large-scale construction projects in North America is bolstering the growth of backhoe loaders market, as the prominent countries are increasingly focusing on infrastructure development that includes construction of highways, ports, roads, and railways, which in turn is unlocking new growth avenues for backhoes loaders.

Collectively, North America is projected to capture one-third of the overall market value in the global backhoe loaders market and is estimated to witness above-average growth over the forecast period (2022-2032).

Category-Wise Insights

Better Operator Comfort Creating Lucrative Opportunities for Backhoe Loaders Market?

Center Pivot Backhoe Loaders to Gain Traction owing to job site efficiency

Currently, the market for center pivot backhoe loaders is growing significantly as these type of backhoe loaders are setting new benchmarks for better operator comfort, exceptional performance, versatility, and job site efficiency. The center pivot backhoe loaders are estimated to account for 86% in terms of revenue by 2022 end and are expected to grow at a value CAGR of 5.7% over the forecast duration.

Trailing close behind are sideshift backhoe loaders foreseen to cross ~US$ 500 Million by the end of the forecast period by contributing over 11% in the overall absolute dollar opportunity created by the end of 2032.

Higher Fuel Saving Ability Boosting Demand for 80-100 Engine Power Backhoe Loaders?

Fast response time boosting demand for 80-100 engine power backhoe

The demand for backhoe loaders with high engine horsepower is growing as it offers better performance, higher fuel saving and fast response time in excavation, loading and digging. Backhoe loaders with 80-100 horsepower are estimated to capture over 48% of absolute dollar opportunity created over the forecast period.

However, owing to the better price to performance ratio along with the excellent maneuverability, backhoe loaders with below 80 HP are also foreseen to auger well in the global market over the forecast period. The backhoe loaders with below 80 horsepower are estimated to account for ~1.5X of the overall value created by the above 100 horsepower segment over the course of forecast duration.

Market Competition

Product Launches Coupled with Rental Businesses to Stimulate Revenue Growth

Industry leaders are continuously focusing on launching enhanced backhoe loader market with more reliability and improved efficiency. For instance,

  • In December 2019, JCB India launched new ecoXpert backhoe loaders. EcoXpert 3DX backhoe loaders come with 12 percent improved mileage capability.
  • In February, 2022, Hydrema a company that manufactures dump truck launched a new series of a backhoe loaders. The new range has 4 models 906G, 908G, 926G, and 928G. The G-series has an intelligent central lubrication system and an automatic battery isolator.
  • Demand for rental and leasing of equipment is projected to witness robust growth during the forecast period, due to high investments in the infrastructure and construction industry. For instance, JCB offers Heavy equipment on rent, as backhoe loaders vehicles are expensive to buy. Thus, these companies prefer leasing or renting backhoe loaders.

Key Segments Profiled in the Backhoe Loaders Industry Survey

  • By Product Type

    • Center Pivot Backhoe Loaders
    • Sideshift Backhoe Loaders
  • By Engine Power

    • Under 80 HP
    • 80-100 HP
    • Over 100 HP
  • By Maximum Digging Depth

    • Under 10 Feet
    • 10-15 Feet
    • Over 15 Feet
  • By Application

    • Construction
    • Agriculture
    • Mining
    • Other Applications
  • By Region

    • North America
    • Latin America
    • Western Europe 
    • Eastern Europe
    • APEJ
    • Japan 
    • Middle East & Africa 

- Premium Report Details -

Backhoe Loaders Market
  • FACT407MR
  • Oct-2022
  • Automotive
  • 170 Pages
  • 101 Tables
  • 127 Figures

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From 2022-2032, Fact.MR expects backhoe loaders revenue to flourish at a 7% CAGR

Fact.MR foresees backhoe loaders demand to reach US$ 2.67 Billion in 2022

In 2032, backhoe loaders market worth is poised to reach US$ 5.25 Billion

North America is projected to capture one-third of the overall market value in the global backhoe loaders market.

Asia Pacific is foreseen to cross ~US$ 1.5 Billion mark by the end of the forecast period by over half of the overall absolute dollar opportunity.

China, U.S., and India will flourish at a CAGR of 16% combined until 2032

The center pivot backhoe loaders are estimated to account for 86% in terms of revenue by 2022 end and are expected to grow at a value CAGR of 5.7% over the forecast duration.

Backhoe loaders with 80-100 horsepower are estimated to capture over 48% of absolute dollar opportunity created over the forecast period.

As of 2021, the backhoe loaders market was worth US$ 2.5 Billion

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