Backhoe Loader Market
Backhoe Loader Market - Global Industry Assessment & Forecast
- By Product Type Center Pivot, Side Shift
- By Engine Power Under 80 HP, 80-100 HP, Over 100 HP
- By Distribution Channel Direct Sale (OEM), Indirect Sales
- By Digging Depth Under 10 Feet, 10-15 Feet, Over 15 Feet
- By Application Construction, Agriculture, Small Demolitions, Mining, Transportation of Building Materials, Digging Holes/Excavation, Powering Building Equipment, Others (Breaking Asphalt)
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 15.2 Billion|
|Revenue 2028:||USD 22 Billion|
|Revenue CAGR (2022 - 2028):||6.4%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Backhoe Loader Market
Backhoe Loader Market- By Product Type, Engine Power, Distribution Channel, Digging Depth, Application and Region.
The Global Backhoe Loader Market is valued at USD 15.2 Billion in the year 2021 and is projected to reach a value of USD 22 Billion by the year 2028. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period.
Backhoe Loader Market Size, 2021 To 2028 (USD Billion)
Backhoe Loaders are versatile operational machines that can do multiple construction-related operations. Increasing infrastructural activity across the world is expected to boost the demand for Backhoe Loader through 2028. The increasing popularity of construction rental is also expected to have a positive impact on the Backhoe Loader Market growth potential over the coming years. Increasing urbanization and industrialization have propelled the demand for infrastructure on a global scale is expected to boost the construction activity and hence will majorly influence the Backhoe Loader Market growth over the forecast period.
Technological advancements are expected to favor Backhoe Loader Market growth and enable the launch of new Backhoe Loader with advanced features that make construction easier and more efficient over the forecast period. Increasing demand for residential construction and increasing investments in oil and gas sectors are also expected to propel sales of Backhoe Loader across the forecast period. However, the high purchase and maintenance costs of Backhoe Loader are expected to have a hindering effect on the Global Backhoe Loader demand in the coming years.
The Backhoe Loader Market is segmented on the basis of type and application. On the basis of product type, the market is segmented into Center Pivot and Side shift. On the basis of engine power, the market is segmented into Under 80 HP, 80-100 HP, and Over 100 HP. On the basis of distribution channels, the market is segmented into Direct sale (OEM) and Indirect sales. On the basis of digging depth, the market is segmented into Under 10 Feet, 10-15 Feet, and Over 15 Feet. On the basis of application, the market is segmented into Construction, Agriculture, Small demolitions, Mining, Transportation of building materials, digging holes/excavation, Powering building equipment, and Others (Breaking asphalt).
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Based on Type:
The side shift segment is expected to account for a major market share and lead the Backhoe Loader Market growth over the forecast period. The increasing scope of application of Backhoe Loader in confined spaces and the rising popularity of their multifunctionality is expected to boost the Backhoe Loader Market potential over the coming years.
Based on Application:
The construction and mining segments are expected to lead the Global Backhoe Loader Market potential over the forecast period and will contribute majorly to the global market revenue and volume shares. Increasing construction and mining activities will boost the Backhoe Loader Market potential across the forecast period.
The Asia Pacific Holds the Largest Market Share in Terms of Revenue
In terms of revenue and share the Asia Pacific region leads the Global Backhoe Loader Market and is expected to maintain this stance over the forecast period as well. High infrastructural development has led to increased construction activity in this region and is driving sales of Backhoe Loaders through 2028. Rapid urbanization and industrialization are increasing construction activity which will continue influencing the Backhoe Loader Market potential in this region. The developing economies of China and India are projected to be the most significant markets in this region owing to increasing investments in the construction sector by governments. Asia Pacific region accounted for a revenue total of USD 5.8 Billion in 2021 while accounting for a dominant share of 38.2% in the Global Backhoe Loader industry landscape.
Key players operating in the Global Backhoe Loader Market include- Action Construction Equipment Ltd., Bobcat Company, Caterpillar, CNH Industrial America LLC, Doosan Corporation, Escorts Limited, Hitachi Ltd, Hydrema, JCB, Komatsu Europe International N.V., Mahindra Construction Equipment, Shandong Lingong Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment and others.
Segmentation of Backhoe Loader Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
The global Backhoe Loader valued at USD 15.2 Billion in 2020 and is expected to reach USD 22 Billion in 2028 growing at a CAGR of 6.4%.
The prominent players in the market are Action Construction Equipment Ltd., Bobcat Company, Caterpillar, CNH Industrial America LLC, Doosan Corporation, Escorts Limited, Hitachi Ltd, Hydrema, JCB, Komatsu Europe International N.V., Mahindra Construction Equipment, Shandong Lingong Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment.
The market is project to grow at a CAGR of 6.4% between 2021 and 2028.
The driving factors of the Backhoe Loader include
- The investment in natural gas pipeline projects
Asia Pacific was the leading regional segment of the Backhoe Loader in 2020.