Backhoe Loader Market Size, Share, Growth Report 2032

Backhoe Loader Market

Backhoe Loader Market Type (Center Mount and Side Shift), End Use (Construction and Mining, Industrial, Agriculture, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Category: Heavy Industry Report Format : PDF Pages: 110 Report Code: ZMR-228 Published Date: Oct-2020 Status : Published

According to the report published by Zion Market Research, global demand for the backhoe loader market was valued at approximately USD 2.58 Billion in 2019 and is expected to generate revenue of around USD 3.72 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

Global Backhoe Loader Market: Overview

According to the report published by Zion Market Research, global demand for the backhoe loader market was valued at approximately USD 2.58 Billion in 2019 and is expected to generate revenue of around USD 3.72 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

Global Backhoe Loader Market SizeRequest Free Sample

Backhoe loader is a heavy equipment vehicle that comprises a backhoe at the back and a shovel on the front. The backhoe loader is considerably small in size and is broadly used in construction projects. The core structure of a backhoe loader is designed to effortlessly maneuver the loader on all types of terrains. The outbreak of COVID-19 led governments of numerous countries to impose strict lockdown measures in the early stages of the pandemic to curb the spread of the virus. Owing to this, construction activities were halted and market players faced various challenges due to disruptions in the supply chain.

Global Backhoe Loader Market: Growth Factors

The global backhoe loader market is primarily driven by rising investments in the construction sector. Rising urbanization has led to an increase in the construction of residential and commercial infrastructure. Moreover, smart city initiatives taken by governments of various developing nations such as China and India are anticipated to propel the market demand over the next six years. According to the Indian Construction Equipment Manufacturers’ Association (ICEMA), the demand for backhoe loaders grew by 22% in India during the financial year 2017-2018. This number is projected to rise during the forecast period.

Global Backhoe Loader Market: Segmentation

The backhoe loader market is bifurcated on the basis of type and end-use. By type, the market is divided into center mount and side shift. On the basis of end users, the backhoe loader market includes construction and mining, industrial, agriculture, and others. The side shift segment held the highest market share in 2019. The side shift type consists of a carrier that is capable of sliding from one side to another along frame rails. This allows operators to maneuver in small spaces owing to which they are preferred over center mount loaders.

The end-user segment of the backhoe loader market is classified into construction and mining, industrial, agriculture, and others. The construction and mining segment is expected to grow at a notable CAGR. According to the U.S. Census Bureau, the overall construction spending in the U.S. for August 2020 was USD 1.41 trillion as compared to USD 1.39 trillion in October 2020. This trend is expected to continue over the year due to which the demand for backhoe loaders will rise in the second half of 2020.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Backhoe Loader Market: Regional Analysis

The Asia Pacific region is estimated to grow at the fastest CAGR over the forecast period. This is due to the increasing construction activities in developing economies. North America will mostly witness substantial growth as key market players are likely to maintain their operations in this region. This is attributable to the increasing adoption of backhoe loaders in various industrial applications. The European backhoe loader market is expected to witness substantial demand over the coming years owing to its rising adoption in the agricultural sector.

Global Backhoe Loader Market: Competitive Players

Some main participants of the backhoe loader market are Komatsu, Deere & Company, Caterpillar, J.C Bamford Excavators, Mahindra Construction Equipment, AB Volvo, Manitou Group, Action Construction Equipment Ltd., CNH Industrial, and Doosan Corporation, among others.

Report Scope:

 

Backhoe Loader Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of The Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Rising investments in construction sector is likely to propel the backhoe loader market. In addition, the increasing adoption in the agricultural sector is also estimated to positively impact the backhoe loader market globally.

According to Zion Market Research, global demand for backhoe loader market is expected to generate revenue of around USD 3.72 Billion by end of 2026, growing at a CAGR of around 5.5% between 2020 and 2026.

The Asia Pacific backhoe loader market is projected to grow at the fastest CAGR over the forecast period. Smart city initiatives taken by governments of India and China are expected to drive the market demand.

Some main participants of the backhoe loader market are Komatsu, Deere & Company, Caterpillar, J.C Bamford Excavators, Mahindra Construction Equipment, AB Volvo, Manitou Group, Action Construction Equipment Ltd., CNH Industrial, and Doosan Corporation, among others.

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