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Backhoe Market Size - By Type (Side shift, Center pivot), Engine Power (Under 80 HP, 80 – 100 HP, Over 100 HP), Application (Construction and Mining, Industrial, Agriculture) & Global Forecast, 2023 - 2032


Published on: 2024-07-08 | No of Pages : 240 | Industry : Construction

Publisher : MRA | Format : PDF&Excel

Backhoe Market Size - By Type (Side shift, Center pivot), Engine Power (Under 80 HP, 80 – 100 HP, Over 100 HP), Application (Construction and Mining, Industrial, Agriculture) & Global Forecast, 2023 - 2032

Backhoe Market Size - By Type (Side shift, Center pivot), Engine Power (Under 80 HP, 80 – 100 HP, Over 100 HP), Application (Construction and Mining, Industrial, Agriculture) & Global Forecast, 2023 - 2032

Backhoe Market Size

Backhoe Market size was valued at USD 47.1 billion in 2022 and will grow at a CAGR of over 5% from 2023 to 2032, owing to commendable rise in construction and infrastructure development activities.

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The demand for backhoes is closely linked to construction and infrastructure projects. As urbanization continues and governments invest in building roads, bridges, and residential and commercial spaces, the need for versatile earthmoving equipment like backhoes remains high. Backhoes are widely used for digging, trenching, excavating, and material handling tasks on construction sites, favoring their demand across the construction sector, thus, driving the market growth. Moreover, the increasing adoption of rental construction equipment will shape market the dynamics.
 

Backhoe Market Report Attributes
Report Attribute Details
Base Year 2022
Backhoe Market Size in 2022 USD 47.1 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5%
2032 Value Projection USD 78.3 Billion
Historical Data for 2018 - 2022
No. of Pages 200
Tables, Charts & Figures 257
Segments covered Type, Engine Power, Application
Growth Drivers
  • Increasing environmental regulations and a growing focus on sustainability in construction
  • Growing infrastructure development activities worldwide
  • Increasing investments in mining projects in MEA and Latin America
Pitfalls & Challenges
  • Rising adoption of rental construction equipment
  • Limited availability of qualified and skilled equipment operators

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The backhoe industry can experience periods of saturation in regions with a high concentration of equipment. In mature markets, such as North America and parts of Europe, there might be a significant number of backhoes in operation. This can lead to reduced demand for new units as customers might prioritize maintaining or upgrading their existing equipment instead of purchasing new ones, significantly impacting product uptake.

Furthermore, utility companies and municipalities are extensively utilizing backhoes for maintenance and repair tasks. Backhoes are used to dig holes for utility poles, lay pipes, repair roadways, and perform tasks related to sewer and water systems. The ability of backhoes to perform both digging and lifting functions makes them efficient for these tasks, reducing the need for multiple specialized machines, thus, fostering backhoe market demand.

COVID-19 Impact

The COVID-19 pandemic had a notable impact on the backhoe industry. Lockdowns, supply chain disruptions, and labor shortages disrupted production and led to project delays, affecting backhoe demand. For example, in India, a major manufacturing hub for construction equipment, production was hampered due to lockdowns. However, the industry showed resilience as governments prioritized infrastructure projects for economic recovery, potentially driving future demand for backhoes in construction and development initiatives.

Backhoe Market Trends

The construction industry has been increasingly focusing on sustainability and reducing emissions. This could lead to the development and adoption of hybrid or fully electric backhoes. This equipment would offer lower emissions, reduced noise levels, and potentially lower operating costs. As technology advances and battery technology improves, hybrid and electric backhoes could become more viable options for construction companies looking to meet environmental standards. This, in consequence, will favor the market dynamics in the long run.

Backhoe Market Analysis

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The backhoe market valuation from the side shift segment was surpassed USD 30 billion in 2022 and is expected to register more than 5% CAGR up to 2032. Side shift backhoes are gaining popularity due to their enhanced versatility and efficiency in various applications. This design innovation allows the entire backhoe assembly to shift laterally, expanding the range of operations without having to reposition the entire machine.

For instance, side-shift backhoes are particularly advantageous in urban settings with confined spaces where maneuverability is essential. They enable operators to work more precisely and effectively, reducing the need for frequent repositioning. This trend reflects the industry's ongoing efforts to optimize equipment for diverse and challenging work environments.

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The construction and mining segment held approximately 45.10% share of the backhoe market in 2022 and is predicted to cross USD 35 billion by 2032. The adoption of backhoes in construction and mining applications is propelled by their versatility, cost-effectiveness, and ability to perform various tasks. Backhoes can efficiently handle excavation, trenching, material handling, and loading, making them essential for a wide range of tasks on job sites. For example, in mining, backhoes are used for digging trenches and maintaining haul roads. In construction, they excel in foundation work and utility installation. Their adaptability to different environments and tasks makes them a preferred choice for contractors seeking efficient and multifunctional equipment.

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North America backhoe market size reached 9.5 billion in 2022 and is anticipated to observe about 5% gains up to 2032. Backhoe industry is experiencing robust growth due to increasing infrastructure investment, urbanization, and technological advancements. Initiatives like the American Jobs Plan in the United States are directing substantial funds towards infrastructure development, creating a demand for versatile equipment like backhoes. Urban expansion and utility upgrades further contribute to their popularity. Companies like Caterpillar and John Deere, major players in the industry, are continually introducing advanced models to cater to the region's evolving needs, driving the upward trajectory in the North America market.

Backhoe Market Share

Major players operating in the backhoe market are

  • Terex Corporation
  • Volvo Construction Equipment
  • Caterpillar Inc.
  • Case Construction Equipment
  • Deere & Company
  • Komatsu Ltd.
  • JCB
  • John Deere Construction & Forestry
  • Mahindra Construction Equipment
  • Action Construction Equipment
  • New Holland Construction

 These companies are prioritizing strategic partnerships, launching new products, and commercialization efforts to expand their market reach.

Backhoe Industry News

  • In February 2023, John Deere acquired Wirtgen Group, a German manufacturer of road construction equipment, including backhoe loaders, to strengthen its presence in the road construction market.
  • In March 2023, Caterpillar launched the new Cat 330 GC, a more fuel-efficient and productive backhoe loader than its predecessor, designed to be easier to maintain.

This backhoe market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and units from 2018 to 2032, for the following segments

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By Type

  • Side shift
  • Center pivot

By Engine Power

  • Under 80 HP
  • 80 – 100 HP
  • Over 100 HP

By Application

  • Construction and Mining
  • Industrial
  • Agriculture
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada 
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia

 

 

Table of Content

Report Conent

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1    Backhoes Market 3600 synopsis, 2018 - 2032

2.2    Business trends

2.2.1    Total Addressable Market (TAM), 2023 – 2032

2.3    Regional trends

2.4    Type trends

2.5    Engine power trends

2.6    Application trends

Chapter 3   backhoes Market Industry Insights

3.1    Impact of COVID-19

3.2    Impact of the Russia-Ukraine war

3.3    Industry ecosystem analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news and initiatives

3.6.1    Partnership/Collaboration

3.6.2    Merger/Acquisition

3.6.3    Investment

3.6.4    Product launch & innovation

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1   Increasing environmental regulations and a growing focus on sustainability in construction

3.8.1.2   Growing infrastructure development activities worldwide

3.8.1.3   Increasing investments in mining projects in MEA and Latin America

3.8.1.4   Rising adoption of rental construction equipment

3.8.2    Industry pitfalls & challenges

3.8.2.1   Limited availability of qualified and skilled equipment operators

3.9    Growth potential analysis

3.10    Porter’s analysis

3.11    PESTEL analysis

Chapter 4   Competitive Landscape, 2022

4.1    Introduction

4.2    Company market share, 2022

4.3    Competitive analysis of major market players, 2022

4.4    Competitive positioning matrix, 2022

4.5    Strategic outlook matrix, 2022

Chapter 5   Backhoes Market Estimates & Forecast, By Type (Revenue, Units)

5.1    Key trends, by type

5.2    Side shift

5.3    Center pivot

Chapter 6   Backhoes Market Estimates & Forecast, By Engine Power (Revenue, Units)

6.1    Key trends, by engine power

6.2    Under 80 HP

6.3    80-100 HP

6.4    Over 100 HP

Chapter 7   Backhoes Market Estimates & Forecast, By Application (Revenue, Units)

7.1    Key trends, by application

7.2    Construction and mining

7.3    Industrial

7.4    Agriculture

7.5    Others

Chapter 8   Backhoes Market Estimates & Forecast, By Region (Revenue, Units)

8.1    Key trends, by region

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Russia

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    ANZ

8.5    Latin America

8.5.1    Argentina

8.5.2    Mexico

8.5.3    Brazil

8.6    MEA

8.6.1    Saudi Arabia

8.6.2    UAE

8.6.3    South Africa

Chapter 9   Company Profiles

9.1    Action Construction Equipment

9.2    Case Construction Equipment

9.3    Caterpillar Inc.

9.4    Deere & Company

9.5    JCB

9.6    John Deere Construction & Forestry

9.7    Komatsu Ltd.

9.8    Mahindra Construction Equipment

9.9    New Holland Construction

9.10    Terex Corporation

9.11    Volvo Construction Equipment
 

  • Terex Corporation
  • Volvo Construction Equipment
  • Caterpillar Inc.
  • Case Construction Equipment
  • Deere & Company
  • Komatsu Ltd.
  • JCB
  • John Deere Construction & Forestry
  • Mahindra Construction Equipment
  • Action Construction Equipment
  • New Holland Construction

Table of Content

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Will be Available in the sample /Final Report. Please ask our sales Team.