Mining industry remains a major contributor to the backhoe loaders market, owing to increased demand in digging and excavation activities
DUBLIN, IRELAND / ACCESSWIRE / February 12, 2020 / Fact.MR: The global backhoe loaders market is set to surpass a value of US$ 1.9 Bn by the end of 2026, as per the recent research intelligence study of Fact.MR. Businesses in backhoe loaders market are increasingly focusing on the integration of advanced telematics technologies and remote operations to gain traction among consumers.
'Backhoe loaders have gained significance in the construction industry, owing to their versatility in terms of operations and size. Demand will however remain concentrated in the residential construction sector,' says the Fact.MR report.
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Backhoe Loaders Market: Key Findings
- Backhoe loaders with digging depth of 10-15 feet are gaining traction, with projected incremental opportunity of US$ 600 Mn by 2029.
- Center pivot backhoe loaders would remain preferred product category.
- Backhoe loaders with engine power between 80 HP and 100 HP will display rapid growth potential.
- Asia Pacific excluding Japan (APEJ) set to exhibit a substantial CAGR, on back of new infrastructure project launches.
Backhoe Loaders Market: Key Driving Factors
- Rising investments in infrastructure projects with public-private collaborations remain key growth driver for market.
- Development of versatile attachments such as grapples, breakers, and augers are increasing the scope of application.
- Compact sizes and automated features that bolster the rate of productivity will remain key growth lever.
- Mining industry continues to drive growth of the backhoe loaders market. Demand for excavation and digging operations remains prominent.
Backhoe Loaders: Key Market Restraints
- Small- and medium-scale enterprises continue to face challenges with expensive price point of backhoe loader vehicles.
- Lack of standardization is particularly a major restraint to market growth in Europe.
Explore 127 figures, 101 tables in the study. Request ToC of the report at https://www.factmr.com/report/407/backhoe-loaders-market
The global backhoe loaders market is largely fragmented. Industry leaders are focusing their efforts on product improvements for better efficiency and reliability through automation and other technologies, with greater emphasis on strategic collaborations. The report has also profiled key players in the global backhoe loaders market, which will remain active through 2026, including Caterpillar Inc., JCB,Inc., CNH Industrial America LLC, Terex Corporation, Deere & Co, Mahindra Construction Equipment, Komatsu Limited, TerraQuip Construction Products, Inc., Volvo Construction Equipment, Bharat Earth Movers Limited, Escorts Group, Fiat, and Hitachi, Ltd.
About the Report
This 250+ pages study provides detailed forecast data on the backhoe loaders market. The key categories covered in the report include product type (center pivot and side shift), engine power (under 80 HP, 80-100 HP, and over 100 HP), maximum digging depth (under 10 feet, 10-15 feet, over 15 feet), application (construction, agriculture, mining, and others) and 25+ countries in key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa, and the Carribean).
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