A new report published by Persistence Market Research projects that the global backhoe loader market will surpass $2 billion USD by the end of 2026. With their ability to landscape, transport materials, carry out minor demolitions, excavate and pave roads, backhoe loaders are critical machines in a variety of industries including construction, agriculture and mining.
Much of the estimated growth can be attributed to a growth in public and private partnerships with a view to further developing infrastructure in growing economies. According to a summary of the report, “China and India in Asia Pacific have shown a high prevalence of private and public partnership projects. In India, the Planning Commission aims to achieve almost 47 percent of the overall development of infrastructure through private funding. Governments of several developed countries have been promoting public and private partnership models to accomplish infrastructure and construction investment targets. Growing private investments in the development of infrastructure is anticipated to create potential avenues and spur the demand for various construction equipment such as backhoe loaders.”
An expanding array of attachments and optional features are making backhoe loaders extremely versatile machines. For instance, backhoes are now employed for a wide range of specific applications like snow removal, cleaning work sites, and waste removal. Already the most widely-used construction equipment, backhoes will only become more popular as infrastructure, construction and mining projects expand worldwide. Their use in agriculture and forestry is also expected to grow.
Among the most important innovations in recent years has been the implementation of hydraulics:
“Hydraulic systems work on pressurized hydraulic fluids to power machinery. Backhoe loaders require continuous oil pressure in the engine to enable consistent working of the equipment. Hydraulic pumps fulfil this requirement by providing adequate power. Additionally, innovation in the design of the pump has further enhanced the efficiency of backhoe loaders. Further, the productivity of backhoe loaders has improved in various aspects such as faster movement, greater power, and better digging with the incorporation of novel hydraulic pumps and innovative electronic sensors.”
Read the full report here.