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The top eight global players accounted for nearly 85% revenue share of the US$ 2.14 Bn backhoe loaders market in 2015. JC Bamford Excavators Ltd (JCB) remains the largest player (20%), followed by CNH Industrial NV, and Volvo Construction Group. These three behemoths collectively account for nearly 44% revenue share of the global backhoe loaders market. The other five leading players in terms of revenue share include Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Terex Corporation, Caterpillar Inc., and Deere & Company.
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The backhoe loader market refers to the market for backhoe loaders, which are heavy machinery used in construction and other industries for digging, loading, and transporting materials. These machines are equipped with a front-mounted bucket and a backhoe on the rear, allowing them to perform a variety of tasks on the job site.
The global backhoe loader market is expected to experience strong growth in the coming years, driven by factors such as the increasing demand for infrastructure development, the growth of the construction industry, and the introduction of new technologies and materials in the backhoe loader industry.
There are various types of backhoe loaders available in the market, including compact backhoe loaders, mid-size backhoe loaders, and large backhoe loaders. These machines are typically powered by diesel engines and are designed to withstand the harsh conditions encountered on construction sites.
The backhoe loader market is highly competitive, with a large number of manufacturers offering a range of products to meet the needs of different customers. Major players in the market include Caterpillar, JCB, and Komatsu.
In recent years, the market has seen the introduction of new technologies, such as advanced hydraulic systems and machine learning, which have the potential to improve the performance and efficiency of backhoe loaders. The use of these technologies is expected to increase in the coming years as manufacturers seek ways to improve the performance and cost-effectiveness of these machines.
According to Persistence Market Research's report,“ Global Market Study on Backhoe Loaders: APEJ Expected to be the Most Attractive Regional Market for Backhoe Loader Manufacturers in Terms of Growth Rate ”, the India backhoe loaders market will continue to experience steady gains throughout the forecast period on account of a slew of factors. Government focus on infrastructure development coupled with easy finance schemes have ensured steady buoyancy, and the status quo is anticipated to remain unchanged throughout the forecast period. JCB remains the market leader in India as well, accounting for roughly three-fourth revenue share.
“Demand for backhoe loaders and other construction equipment is directly co-related to the pace of infrastructure development. India is going through a momentous phase of development of roads, railways, and dams receiving government support and FDI. Further, India's real estate sector remained largely unaffected by the global housing crisis of 2007-08, and leading construction equipment manufacturers consolidated their position to compensate for sluggish demand in US and Europe. Since then, the India construction equipment market has been on an upswing, and our research projects the demand to remain buoyant throughout the forecast period.” – Persistence Market Research analyst.
Center-mount backhoe loaders will continue to outsell side-shift variants, with the former projected to account for over 86% revenue share of the market throughout the forecast period. Center-mount backhoe loaders remain sought-after among end-users in Asia Pacific and North America, whereas side-shift backhoe loaders are concentrated in Europe.
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“Side-shifts were first introduced in Europe in the 1960s and since then they have remained the preferred choice; however, across the pond, end-users have shown a marked preference for center-mount machines. They also remain the preferred choice among end-users in India, influencing manufacturers to increase production capacity and broaden their range”, adds the Persistence Market Research analyst.
Backhoe loaders find their application in a wide range of end-use industries, including construction & mining, utility, and agriculture & forestry. Construction and mining remain the largest end-use sector, accounting for nearly 53% revenue share of the market in 2016.
Frenzied construction activity in Tier II cities, combined with the implementation of 'Smart City' program are anticipated to provide an impetus to overall construction equipment sales in India, which in turn, is expected to have a crucial impact on prospects of the global market. Demand for backhoe loaders from the agriculture & forestry segment will remain steady, growing at 5.9% CAGR through 2026.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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