Page 19 - Construction_Opportunities_August_2024

COVER STORY

amount of power and torque. This new equipment model is an need for infrastructure upgrades. Simultaneously, the demand for
optimal fit for rough terrain. electric loaders is on the rise due to their environmental benefits
and superior performance in various construction applications.
Backhoe Market Trends: These machines offer increased efficiency, reduced fuel
The construction industry is focused on prioritizing sustainability and consumption, and lower emissions compared to their traditional
emission reduction. These cutting-edge backhoes offer a host of counterparts. As a result, construction companies are investing
advantages, from lower emissions and noise levels to potentially in electric loaders to meet the demands of their projects while
reduced operating costs. With ongoing advancements, especially reducing their carbon footprint. This trend is expected to continue,
in battery technology, hybrid, and electric backhoes are expected further fuelling the growth of the construction industry and the
to become even more attractive to construction firms aiming to demand for advanced construction equipment like electric
meet stringent environmental benchmarks. loaders.
A recent Technavio report echoed that the construction industry is Increasing use of telematics in backhoe loaders is the key trend in
experiencing a significant surge, driven by increasing investment in the market. Modern loaders come with advanced features such
natural gas pipeline projects and the growing demand for electric as turbocharged engines, rugged tires, basic cabins, hydraulic
loaders. Natural gas pipeline projects are expanding across the excavators, and autonomous operating technology. Thus, such
globe, fuelled by the shift towards cleaner energy sources and the trends will shape the growth of the market in the future.

AUGUST 2024|CONSTRUCTION OPPORTUNITIES 19