Backhoe Loader Market 2015 - 2021
Backhoe loaders are the most heavily used loaders in large, medium, and small scale construction projects because of their versatility and small size. They can be fitted with different attachments for tasks such as boring, digging, excavation, and loading. They can be used for a wide variety of tasks such as digging holes or excavation, construction, minor demolition, powering building equipment, breaking asphalt, paving roads, and transportation of light building materials. Most backhoe loaders feature quick-attach mounting systems and auxiliary hydraulic circuits for simplified attachment mounting, increasing the machine's utilisation on site.
In terms of geography, Asia Pacific dominates the global market, followed by North America and Europe.
Asia Pacific is the largest and fastest growing market. China and India are the biggest markets for backhoe loaders in the region due to the recent technological developments, significant growth in the construction industry, substantial growth in the construction of dams and canals, and an increasing number of power projects.
In North America, the U.S. represents the largest market for backhoe loaders, followed by Canada. In Europe, France, Germany, Italy, and the U.K. hold major shares in the backhoe loader market due to significant infrastructure development in the region.
BRIC countries are a very attractive market for backhoe loaders. Among the BRIC countries, China is the biggest market for backhoe loaders, followed by India. Brazil has become the most attractive market in South America, while Russia is a least attractive market in Asia owing to tough economic conditions.
The significant growth of the construction industry is a major driver of global backhoe loader market. The versatility of backhoe loaders, rising road construction activities, and the increasing number of power projects in developing countries, such as India, have also fueled the market. However, high prices of backhoe loaders are hampering the growth of the global market. An increasing preference for center-mounted backhoe loaders is an emerging trend of this market.
Some of the major companies operating in the global backhoe loader market are Komatsu Limited, J.C. Bamford Excavators Limited, AB Volvo, Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd., Liebherr Group, CNH Global NV, Deere & Company, and Mahindra & Mahindra, Ltd.
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