Global Backhoe Loaders Market Is Expected to Represent a Value of Over US$ 3,557.1 Mn by 2026
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Backhoe loaders are being used on a large scale in small construction projects. Owing to the increasing construction activities, backhoe loaders are witnessing huge demand. With the increasing use, backhoes equipped with attachments such as augers, breakers and grapples and other attachments are being used on a large scale. Manufacturers of backhoe loaders are focusing on design and weight of the backhoe as the heavy weight of backhoe can cause the vehicle to tip. Hence, small frame and precise control in backhoe loaders are being provided by manufacturers.
According to the new report by Fact.MR, the global market for backhoe loaders is likely to see steady growth. The market is projected to grow at a CAGR of 5.2%, in terms of volume between 2017 and 2026. While, by 2026 end, the global market for backhoe loaders is projected to reach US$ 3,557.1 million revenue.
Center Pivot to Emerge as the Top-Selling Backhoe Loaders Product
Compared to the sideshift backhoe loaders, center pivot backhoe loaders are likely to be the top-selling product between 2017 and 2026. Center pivot backhoe loaders are projected to surpass US$ 3,000 million revenue by 2026 end. Center pivot backhoes are mounted at the center of the rear portion of machine’s frame. Center pivot backhoes are used on a large scale in North America. While side shift backhoes has become standard in Europe.
Backhoe Loaders with 80-100 Horsepower of Engine to Gain Maximum Traction
Backhoe loaders with 80-100 horsepower engine are likely to gain maximum traction throughout the forecast period. It is projected that more than 66,000 units of backhoe loaders with 80-100 horsepower engine will be sold towards 2026 end. The demand for backhoe loaders with maximum horsepower is increasing as it offers better performance, fast response time and higher fuel saving.
Backhoe Loaders Providing Maximum Digging Depth of 10-15 Feet to Witness Fastest Growth
Backhoe loaders with the maximum digging depth of 10-15 feet are likely to witness the fastest growth between 2017 and 2026. Towards 2026 end, backhoe loaders providing digging depth of 10-15 feet are projected to surpass US$ 1,700 million revenue. Backhoe loaders with the ability to dig 10-15 foot deep are being used largely in water line and electrical line installation. Most of the contractors in the construction sector are using compact backhoes as they weigh less and allow contractors to use various attachments making it easy to operate.
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Backhoe Loaders to Find Largest Application in the Construction Industry
Compared to the various industries, backhoe loaders are likely to find the largest application in the construction industry. The construction industry is projected to surpass US$ 1,900 million revenue by 2026 end. Considerable growth in the construction sector in the recent years is driving the demand for backhoe loaders. Moreover, manufacturers of backhoe loaders are also introducing technically advanced and compact backhoe loaders to carry the operation easily.
Key market participants identified by Fact.MR’s report include Hydrema, Hitachi, Ltd., Fiat, Escorts Group, Bharat Earth Movers Limited, Bell Equipment Limited, YANMAR CO., LTD., Volvo Construction Equipment, TerraQuip Construction Products, Inc., Kubota, Komatsu Limited, Doosan Corporation, Mecalac, Mahindra Construction Equipment, Deere & Co, LiuGong Construction Machinery, LLC, CNH Industrial America LLC, Terex Corporation, Caterpillar Inc., and JCB,Inc.
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