Backhoe Loader Market Research Report - Forecast to 2030

Backhoe Loader Market Information Report by Application (Industrial, Agricultural, Construction and Others) and Region - Forecast to 2030

ID: MRFR/CO/1690-HCR | 111 Pages | Published By Sakshi Gupta on March 2023         

Backhoe Loader Market Speak to Analyst Request a Free Sample

Backhoe Loader Market

Backhoe Loader Market is projected to be worth USD 25891.8 Million by 2030, registering a CAGR of 7.1% during the forecast period (2022 - 2030).

Segmentation
By Application Industrial Agricultural Construction Others
Key Players
Companies Profiled   Komatsu Limited   Case CE   Deere & Company   CNH Global NV   Liebherr Group   C. Bamford Excavators Limited   Caterpillar Inc.   Hitachi Construction Machinery   Mahindra & Mahindra Limited   B. Volvo   Volvo Construction Equipment
Drivers
Market Driving Forces   Growing construction industry
Request a Free Sample

Backhoe Loader Market Overview


The backhoe loader market is expected to gain a market value of USD 25,891.8 million by 2030 at a CAGR of 7.1% over the forecast period of 2022-2030.


Backhoe loader is a tractor-like vehicle with a shovel or bucket in the loader style mounted on the front and a miniature backhoe on its rear. It is frequently used in the construction industry. Additionally, a backhoe loader is an excavating tool that aids in trenching or digging deep holes. As a result of its ability to move vast quantities of materials, the market for backhoe loaders is expected to expand.


Backhoe loaders have become incredibly important in the construction sector. With the rapid population growth and increase in gross household disposable incomes in established and developing nations, backhoe loaders have been used more frequently in the residential construction sector. According to OECD, real household income per capita increased the most in Canada, up 1.4% in the second quarter of 2021. France and Germany had increases in real household income per capita of 0.6% and 0.2%, respectively. The global backhoe loaders market is driven by government initiatives in numerous nations to promote the construction of infrastructure, including airports, railways, highways, and seaports. However, high initial and ongoing maintenance costs restrain the market's expansion for backhoe loaders.

COVID-19 Analysis


The sales in the construction and agricultural sectors have been adversely impacted by COVID-19, which limited the market expansion for backhoe loaders. Although the market was anticipated to increase significantly, COVID-19 is predicted to cause a fall in the market over the next few years. According to OECD, following growth of 5.2% in the first quarter, real household income per capita in the OECD region decreased by 3.8% in the second quarter of 2021. As the government's financial assistance offered during the COVID-19 pandemic started to be withdrawn, household income in the United States fell precipitously, which was what caused the decline.


Competitive Landscape


The most prominent major key players in the backhoe loader market all across the globe are mentioned below:



  • Komatsu Limited

  • Case CE

  • Deere & Company

  • CNH Global NV

  • Liebherr Group

  • C. Bamford Excavators Limited

  • Caterpillar Inc.

  • Hitachi Construction Machinery

  • Mahindra & Mahindra Limited

  • B. Volvo

  • Volvo Construction Equipment

  • Terex Corporation

  • Shandong Lingong Construction Machinery Co., Ltd.

  • Escorts Limited

  • Doosan Corporation


These major key players use various strategies to sustain their market position in the backhoe loader market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the backhoe loader market all across the globe.


Market Dynamics


Drivers


The investment in natural gas pipeline projects is increasing at an excellent rate in the global market scenario. Also, the rising initiatives by the government in various countries will boost the infrastructural development like the building of roads, airports, seaports, and railways, which will have a positive impact on the market during the period. The demand for the market products in the construction sector will propel followed by the development in the small constructions projects will give a huge push to the market towards growth during the forecast period that will end in 2028.


Restraints


But, the market is exposed to some issues like the high cost associated with the maintenance requirements of backhoe loaders that might restrain the market from growing during the period that will be ending in 2028.


Technology Analysis


The technological advancements in the market are enhancing the ability of the backhoe loaders to dig the hard and compact material as a part of the earth. Also, it can be used for the lifting of heavy loads like sewer boxes, and hence, the market has a great scope of growth especially during the forecast period. Also, there has been a rise in the development and construction of canals and dams alongside the power projects that are expected to boost the attributes available to the market by the end of the forecast period in 2028.


Study Objectives



  • To understand the basis and factors that are used by the industry leaders and market analysts to predict the CAGR of the market and the attainable market revenue for the forecast period that will be ending in 2028. Also, the report aims to have an idea about the market dynamics like the opportunities that will drive the market towards global growth followed by the challenges that will restrain the market from growing during the period.

  • The report highlights the basis of the global market segmentation that will help in catering to the rising needs of the global target audience that will help the growth of the global market. The report also discusses the potential of the market segments to earn a good revenue based on the predictions during the forecast period ending in 2028.

  • To have an idea about the rising market competition based on the recent developments undertaken by them during the forecast period.


Market Segmentation


The backhoe loader market has been bifurcated all across the globe based on the product type, engine power, distribution channel, application, and region.


Based on the Product Type


The market has been divided all across the globe based on the product type into side shift and center pivot.


Based on the Engine Power


The market has been divided all across the globe based on the engine power into over 100 HP, between 80 – 100 HP, and under 80 HP.


Based on the Distribution Channels


The market has been divided all across the globe based on the distribution channels into indirect sales and direct sales (OEM).


Based on the Application


The market has been divided all across the globe based on the application into powering building equipment, digging holes/excavation, transportation of building materials, mining, small demolitions, agriculture sector, construction sector, and others (breaking asphalt)


Based on the Region


The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The backhoe loader market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to increasing urbanization and increasing development in infrastructural designs that drives the market demand in this region. Moreover, the increasing number of power projects in countries like China and India also creates more market demand.


The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this region. Increasing investment in various construction and infrastructural development programs creates more market demand. The presence of various major key players also drives the market demand in this region.


The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more power generation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in various power generation projects drives the market demand in this region.


The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.


Recent developments



  • In June 2022, Action Construction Equipment (ACE) Limited announced they had signed a contract to supply 40 backhoe loaders to the Indian Defense Sector.

  • In December 2019, Doosan Bobcat Inc., announced the launch of their new B900 backhoe loader.

  • In March 2020, Caterpillar announced the launch of four new backhoe loader models, including the Cat 428, 432, 434, and 444.


Report Overview


This global backhoe loader market research report consists of the following components mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technical Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This market research report contains factors that drive the growth of the market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of the COVID 19 on the backhoe loader market in the global market is mentioned. The future growth rate in the market during the review period is estimated and mentioned.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 25,891.80 Million
  CAGR   7.1%
  Base Year   2021
  Forecast Period    2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Caterpillar Inc.(U.S.), J.C. Bamford Excavators Limited (U.K.), Komatsu Limited (Japan), AB Volvo (Sweden), Case CE (U.S.), Hitachi Construction Machinery (Japan), Liebherr Group (Bulle, Switzerland), CNH Global NV (Netherlands), Deere & Company (U.S.), Mahindra & Mahindra, Ltd.(India)
  Key Market Opportunities   Performing various tasks
  Key Market Drivers   Growing construction industry


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

A backhoe loader is a form of earthmoving equipment comprising of a tractor unit fitted with a shovel in the front and a backhoe at the back. Backhoe loaders also have the capability to be fitted with various attachments for tasks such as digging, boring& loading, and for excavation.

Major applications of backhoe loaders include industrial, agricultural, and construction.

The growing construction industry is the major driver for the backhoe loader market.

Asia Pacific is the leading regional market for backhoe loaders.

Leading players in the global backhoe loaders market include Caterpillar, JCB, and Komatsu Ltd., among others.