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Market Insight- Global Backhoe Loaders Market

Market Overview

A backhoe loader also referred to as digger is a heavy digging equipment vehicle that is comprised of shovel/bucket on the front and a backhoe on the back. The backhoe loader is relatively small in size and is extensively used in urban engineering or small construction projects. The core structure of backhoe loader is the tractor where it is designed to move effortlessly on all kinds of terrains. It is equipped with powerful, turbocharged engine, rugged tires, and a basic cabin for controlling its functions. The backhoe is mainly used for digging up to hard compact material, usually earth or to lift heavy loads. The arrangement of a backhoe is similar to the human arm including the boom, bucket, and stick.

The global backhoe loader market was valued at US$ 2,518.3 Mn in 2018 and is expected to grow at a CAGR of 5.9% during the forecasted period (2019-2027)

Market Dynamics- Drivers

  1. Growing demand for construction of residential, commercial infrastructure, owing to rising urbanization is expected to drive growth of the global backhoe loaders market during the forecast period

Growing urbanization has increased the demand for construction commercial and residential infrastructure. Moreover, the global construction industry has witnessed significant demand in the recent past, owing to increasing population. For instance, according to Coherent Market Insights’ analysis, around US$ 750 billion to US$ 850 billion of investment is made in infrastructure every year with over 70% of the investment going into emerging economies. Furthermore, according to the American Society of Civil Engineers projected that around US$ 3.6 trillion would be needed for the U.S. infrastructure investment by 2020. Thus, growing investment in infrastructure projects is expected to drive the global backhoe loaders market growth over the forecast period.

  1. Emergence of public-private partnership for various construction projects is expected to propel the global backhoe loaders market growth over the forecast period

Various emerging economies are focused on public-private partnership for the development of infrastructure projects in the country. For instance, in India, the Niti Aayog aims to achieve 47% of total infrastructure development through private funding. India is a lucrative country for key manufacturers with over 750 public-private partnership projects at work. Moreover, governments of various developed countries are endorsing public-private partnership models, in order to achieve certain investment targets.

Asia Pacific excluding Japan (APEJ) region dominated the global backhoe loader market in 2018, accounting for 40.8% share in terms of value, followed by North America and Latin America, respectively

Backhoe Loaders  | Coherent Market Insights

 Source: Coherent Market Insights

Market Restraints

  1. Availability of substitute equipment vehicle, especially in Japan and China is expected to restrain growth of the global backhoe loaders market over the forecast period

There is significantly low adoption of backhoe loaders in China and Japan due to domestic manufacturers preferring hydraulic excavators or mini-excavator over backhoe loaders. This, in turn, is expected to hinder the demand for backhoe loaders and thereby restrain the market growth in the near future.

  1. Availability competitive products are expected to hamper the global backhoe loaders market growth in the near future

Average price of a backhoe loader is similar to that of a high capacity mini excavator or a high powered (220 horsepower) wheeled loader. 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.

Market Opportunities

  1. Growing demand for renting equipment is expected to pose lucrative growth opportunities

Backhoe loaders, although they are in demand, are extremely expensive to purchase. Thus, small- and mid-sized companies preferring renting or leasing the backhoe loader. The backhoe loader renting and leasing business is expanding significantly, owing to high demand for backhoe loaders from the U.S., India, etc. Moreover, high rate of urbanization in APEJ region is expected to offer excellent opportunities for market players in the near future.

  1. After-sales services are expected to offer significant growth opportunities for market players

The average revenue of aftersales services is around 5-10% of the total global revenue. This revenue share is relatively low in emerging economies such as India. Moreover, dealers are providing lucrative offers with improved maintenance contracts and better execution. Although after-sales revenue is low, it is recurring and can increase sales of spare parts.

Backhoe Loaders  | Coherent Market Insights

Source: Coherent Market Insights

Segment Information

In global backhoe loader market, by model type segment, Sideshift sub-segment dominated the global backhoe loader market in 2018, accounting for 86.4% share in terms of value, followed by center mount sub-segment.

Backhoe Loaders  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Significant growth of the rental market is a major trend in the global backhoe loaders market

Rental and leasing services are one of the most valuable forms of revenue generation. This is partly due to the development of advanced technology and dwindling utility lifespan of machines. Small- and mid-sized companies seldom purchase new machinery and often prefer renting or leasing it. There is a limited number of organizations with a full fleet of construction equipment vehicles. Moreover, these players face rigid pricing competition from unorganized sector.

  1. Availability of financing options is expected to continue over the forecast period

Various financing institutions offer lucrative loans for construction companies. Moreover, loans are offered for equipment on a lease basis. This trend is expected to continue during the forecast period.  

Competitive Section

Key companies operating in the global backhoe loaders market are Caterpillar, Inc., Deere & Company, Komatsu Ltd., Mahindra Construction Equipment, Volvo Construction Equipment, J C Bamford Excavators Ltd., Terex Corporation, CNH Industrial NV, Manitou Group, Action Construction Equipment Ltd., and Hitachi Construction Machinery Co., Ltd.

Key Developments

  1. Key companies in the market are focused on product showcase, in order to gain competitive edge in the market. For instance in February 2017, Caterpillar, Inc. showcased Cat 320D2 and Cat 313D2 Hydraulic Excavators at ConMac exhibition in Guwahati, India.
  2. Key manufacturers are focused on product launches, in order to enhance their product portfolio. For instance, in January 2018, Mahindra & Mahindra, a part of Mahindra Group, introduced SX90, the first higher horsepower backhoe loader, which is a variant of its brand EarthMaster.

Backhoe loaders are heavy equipment that comprises a tractor-resembling unit equipped with loader-like bucket/shovel on the front, and a small backhoe on the back. It is also known as a “loader backhoe”, “digger” in layman's terms, or just “backhoe”. Backhoe loaders are commonly used in urban engineering and small construction projects, such as building a small house, fixing urban roads etc., owing to their relatively small size and versatility properties. These types of machines are similar to Tractor-Loader-Backhoe (TLB), which is an agricultural tractor that is fitted with a front loader and rear backhoe attachment. Backhoe loaders can be used for a wide variety of tasks such as digging holes/excavation, breaking asphalt, construction, landscaping, small demolitions, light transportation of building materials, powering building equipment and paving the road.

Market Dynamics

The increasing use of telematics in compact and small construction equipment and significant growth in the construction industry may act as a major driver of the global backhoe loader market. Other factors such as versatility of backhoe loaders, increasing road construction activities, rapid population expansion and rise in gross household disposable incomes and growing number of power projects in developing countries such as China, India etc. are the major factors which are expected to further augment the growth of global backhoe loader market during forecast period. For instance, according to Coherent Market Insight’s analysis, as of November 2019, China's population stands at 1.435 billion, the largest of any country in the world.

Owing to the increasing focus on enhancing the productivity of infrastructure and construction activities, there has been an increase in the adoption of bucket loaders and excavators in the construction industry. In addition to this, trenching, grading, dozing and loading are some of the activities performed during natural gas pipeline construction activity with the help of backhoe loaders, which makes it the perfect construction equipment for natural gas pipeline projects. Furthermore, an increasing demand for solar power and wind power installations, as well as the growing demand for gas-run or conventional steel power plants are the other major driving factors for the global backhoe loader market over the forecast period. However, high prices of backhoe loaders may hinder the growth of the global backhoe loader market over the forecast period.

Market Taxonomy

This report segments the global backhoe loaders market on the basis of model type, end use, and region. On the basis of model type, the global backhoe loaders market is segmented into center mount and sideshift. On the basis of end use, the market is segmented into construction and mining, utility, agriculture and forestry and others and on the basis of region, the global backhoe loaders market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global backhoe loaders market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global backhoe loaders market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global backhoe loaders market includes, Caterpillar, Inc., Deere & Company, Komatsu Ltd., Mahindra Construction Equipment, Volvo Construction Equipment, J C Bamford Excavators Ltd., Terex Corporation, CNH Industrial NV, Manitou Group, Action Construction Equipment Ltd., and Hitachi Construction Machinery Co., Ltd. among others.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global backhoe loaders market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global backhoe loaders market

Detailed Segmentation:

  •  Global Backhoe Loaders Market, By Model Type:
    • Center Mount
    • Sideshift
  •  Global Backhoe Loaders Market, By End Use:
    • Construction And Mining
    • Utility
    • Agriculture And Forestry
    • Others
  • Company Profiles
    • Caterpillar, Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Deere & Company
    • Komatsu Ltd.
    • Mahindra Construction Equipment
    • Volvo Construction Equipment
    • J C Bamford Excavators Ltd.
    • Terex Corporation
    • CNH Industrial NV
    • Manitou Group
    • Action Construction Equipment Ltd.
    • Hitachi Construction Machinery Co., Ltd.

*Browse all the market data tables and figures on “Global Backhoe Loaders Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Model Type
      • Market Snippet, By End-use
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Backhoe Loader Market, By Model Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Center Mount
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Sideshift
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Backhoe Loader Market, By End-use, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Construction and Mining
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Utility
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Agriculture and Forestry
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Backhoe Loader Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Model Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Model Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Model Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Model Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Model Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By End-use, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • Caterpillar, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Deere & Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Komatsu Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mahindra Construction Equipment
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Volvo Construction Equipment
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • J C Bamford Excavators Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Terex Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • CNH Industrial NV
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Manitou Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Action Construction Equipment Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hitachi Construction Machinery Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on “Global Backhoe Loader Market -forecast to 2027”.

Frequently Asked Questions

The backhoe loaders market is expected to be valued at MUS$ 4,249.01 million by 2027.
The backhoe loaders market is expected to exhibit a CAGR of 5.9% over the forecast period (2019-2027).
Major players operating in the backhoe loaders market include Caterpillar, Inc., Deere & Company, Komatsu Ltd., Mahindra Construction Equipment, Volvo Construction Equipment, J C Bamford Excavators Ltd., Terex Corporation, CNH Industrial NV, Manitou Group, Action Construction Equipment Ltd., and Hitachi Construction Machinery Co., Ltd.
Availability of substitute equipment vehicle, especially in economies such as Japan and China is one of the major factors that is expected to hamper growth of the market over the forecast period.
The increasing demand for construction of residential, commercial infrastructure, owing to growing urbanization, coupled with rising public-private partnerships for various construction projects are the major factors that are expected to augment growth of the market over the forecast period.
Among regions, Asia Pacific excluding Japan (APEJ) held a dominant position in the global backhoe loaders market in 2018, accounting for 40.8% share in terms of value, followed by North America and Latin America, respectively.
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