Infrastructure for homes and businesses must now be built more quickly because of growing urbanisation. In addition, rising population levels have recently resulted in a major increase in demand for the worldwide building industry. For instance, an analysis by Coherent Market Insights found that annual infrastructure investment ranges from US$750 billion to US$850 billion, with over 70% of that amount going to emerging economies. Additionally, it was predicted by the American Society of Civil Engineers that by 2020, the United States will need to invest about US$3.6 trillion in infrastructure. As a result, rising infrastructure project investments are anticipated to fuel the expansion of the worldwide backhoe loaders market during the anticipated time frame.
Global Backhoe Loaders Market was valued at US$ 3,024.84 Mn in 2021 and is expected to reach US$ 5,983.96 Mn by 2030, growing at a CAGR of 8% between 2022 and 2030.
Leading Companies in the Backhoe Loaders Industry:
1. Caterpillar, Inc.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The company was founded in 1925 and is headquartered in Deerfield, Illinois. In January, 2023 Caterpillar Inc. Announced the company is investing in Lithos Energy, Inc., a U.S.-based battery technology company that produces lithium-ion battery packs.
2. Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. Deere & Company was founded in 1837 and is headquartered in Moline, Illinois. In January, 2023 John Deere is launching a new dealer business system using Microsoft Dynamics 365.
3. Komatsu Limited
Komatsu Ltd. manufactures and sells construction, mining, and utility equipment; and forest and industrial machinery worldwide. Komatsu Ltd. was founded in 1884 and is headquartered in Tokyo, Japan. In October, 2022 Komatsu Ltd announced that a prototype for its first fully electric compact wheel loader will be showcased on its demo area at the bauma 2022 international fair in Munich, Germany.
4. Volvo Construction Equipment
Founded in 1832, Volvo Construction Equipment is among the world’s leading manufacturers of articulated haulers and wheel loaders, and one of the world’s foremost manufacturers of excavation equipment, road development machines and compact construction equipment. It has headquarters situated in Gothenburg, Sweden. In July, 2022 Beam Global and Volvo CE Partner to Electrify Construction Equipment.
5. Terex Corporation
Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. Terex Corporation was incorporated in 1986 and is based in Norwalk, Connecticut.
6. CNH Industrial NV
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles. The company was founded in 1842 and is headquartered in London, the United Kingdom.
7. Manitou Group
Manitou BF SA develops, manufactures, and provides equipment and services for the construction, agriculture, and industry sectors worldwide. Manitou BF SA was incorporated in 1954 and is headquartered in Ancenis, France.
8. Action Construction Equipment Ltd.
Action Construction Equipment Limited manufactures and sells material handling and construction equipment primarily in India. The company was incorporated in 1995 and is headquartered in Palwal, India.
9. Hitachi Construction Machinery Co., Ltd.
Hitachi Construction Machinery Co., Ltd., together with its subsidiaries, manufactures and sells construction machineries worldwide. Hitachi Construction Machinery Co., Ltd. is a subsidiary of Hitachi, Ltd. The company was incorporated in 1951 and is headquartered in Tokyo, Japan.
*Definition- A large digging equipment vehicle called a backhoe loader, sometimes known as a digger, has a backhoe on the back and a shovel/bucket up front.
