Page 11 - Construction_Opportunities_August_2024

CO VER STOR Y
COVER STORY

Backhoe loaders, also known as diggers or heavy digging
equipment, have become indispensable tools in various industries Fast Facts
such as construction, mining, utility, agriculture, forestry, and � The backhoe loaders market size is forecast to increase
infrastructure repair. Moreover, with the increasing focus on smart by US$1.73 billion and is estimated to grow at a CAGR
cities and urban engineering, they are being increasingly utilized of 4.15% between 2023 and 2028.
in the construction sector for highway projects and landscaping.
Today’s backhoe loaders can do almost anything a skid steer, � The Backhoe Loader market accounts for ~7% market
wheel loader or excavator can do. Modern backhoe loaders are share in total sales of construction equipment industry
tool carriers, wielding attachments, varying hydraulic flow modes globally.
and pressure-compensated, load-sensing hydraulic systems. It’s � India is the largest market for backhoe loaders,
not just attachments off the backhoe end either. accounting for almost 50% of all construction
Rapidly growing usage of backhoe loaders across the construction equipment sales in unit terms.
industry because of its high versatility in operations and compact � Some backhoe loader manufacturers across the globe
size that allows them to be efficiently used even in small spaces have started focusing on developing modular designs
along with the drastic population expansion and rise in the gross that allow customers to customize their equipment to
household disposable income in both developing and developed meet specific needs and it further allows customers
nations, are driving the market growth. In addition, increasing to select the most appropriate components for their
government initiatives and programs towards the infrastructure applications, providing greater flexibility and cost
development and high focus on major players on developing savings, creating significant growth opportunities for
new and more improved machines with advanced capabilities, the market.
is also likely to create lucrative growth opportunities for the market.

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