Market Forecast By Types (Centre Mount, Side Shift), By Applications (Construction, Landscape & Ground Maintenance, Agriculture & Forestry, Mining & Others), By Products (Articulated Backhoe Loader, Rigidity Backhoe Loader), and competitive landscape
|Product Code: ETC002492||Publication Date: Aug 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
India Backhoe Loader Market registered a decline of -70.28% in value shipments in 2022 as compared to 2021 and a decrease of -5.65% CAGR in 2022 over a period of 2017. In Backhoe Loader Market India is becoming more competitive as the HHI index in 2022 was 2217 while in 2017 it was 3007. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Backhoe Loader Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Backhoe Loader Market in 2022 was 0.04 while in 2017 it was 0.35. China, Japan, Spain, Germany and Belgium were among the top players of the market in 2022, where China acquired the largest market share of 41.91% with a shipment value of 6.07 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 45.65% with the shipment value of 31.55 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
India Backhoe Loader Market is expected to witness growth in recent years due to the growing construction industry, increasing infrastructure development, and government initiatives to boost public infrastructure expenditure. Typically, backhoe loaders are versatile machines used in construction, mining, and agriculture applications. The Backhoe Loader Market in India has been growing steadily due to increasing demand from various end-user industries. Additionally, many global players in the Backhoe Loader Market have set up their manufacturing units in India to cater to the local demand.
The government has been undertaking various initiatives such as Pradhan Mantri Gram Sadak Yojana (PMGSY) to promote the use of Backhoe Loaders in the country. Moreover, with the increasing adoption of technology in the Backhoe Loader Market in India, many companies are incorporating advanced features like GPS, telematics, and remote monitoring systems into their machines. Furthermore, the Backhoe Loader Market in India is witnessing robust growth and development. The major factors driving the growth of this market include localization of manufacturing, product innovation, government initiatives, and adoption of advanced technology.
India backhoe loader market is expected to grow at a significant rate over the forecast period on account of rising investments by the government for infrastructural development. Furthermore, increasing dominance by the rental market owing to savings from huge initial investments coupled with the versatility of the machine would play a pivotal role in driving India’s backhoe loader market over the coming years. However, the spread of the COVID-19 pandemic would hinder the growth of the market due to the economic slowdown leading to the halting of several construction projects across the country, which is expected to regain its momentum in the latter part of the year 2020.
According to 6Wresearch, India Backhoe Loader Market Size is anticipated to register substantial growth during 2020-2026. Initiatives by the Indian government to make private infrastructure investment easy and quick are expected to push the demand for backhoe loaders in the country. Moreover, the financial support provided to the small and medium enterprises by entering into strategic partnerships with the well-established backhoe loaders players would propel the aforementioned market over the forecast period. Additionally, the shortage of manual labour due to government-sponsored rural employment programmes is another significant factor that will contribute to the growth of machines like backhoe loaders in the long term.
Based on types, side shift backhoe loaders deliver high break-out force, are faster in digging and loading and are ideal for functioning in the toughest strata, thereby accounting for the major market revenue shares in the Indian backhoe loader market. On the basis of applications, the construction sector has garnered the major market revenue shares and is likely to persist the same over the coming period on account of favourable government initiatives to boost the infrastructure developments in the country such as the Smart City Mission and Bharatmala Pariyojana projects.
India backhoe loader market report thoroughly covers the market by types, applications and products. India Backhoe Loader market outlook report provides an unbiased and detailed analysis of the ongoing India backhoe loader market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India backhoe loader market is projected to gain traction in the upcoming six years on the back of the rising infrastructural development in the country. Increased government initiative by investing in multiple projects like India upcoming projects Sagar mala project and Mumbai Trans Harbour link where the high requirement for construction equipment in the country such as backhoe loaders and work efficiently during construction site is expected to boost the potential growth of India backhoe loader market in the coming timeframe. Additionally, on the basis of end-users, the oil and gas industry is estimated to dominate the market revenues in the coming years owing to rising petroleum export massively in the country tends to require backhoe loader during the extraction process and this growth driving factor would benefit India backhoe loader market in the upcoming six years.
India backhoe loader market is expected to secure progressive growth during the forecast period 2020-26F backed by the rising growth of the construction sector in the country. Additionally, the Mumbai backhoe loader market is estimated to register sound demand for backhoe loader equipment owing to several ongoing projects that have been taken place such as Navi Mumbi international airport and Lokhandwala Minerva, which tends to reflect the wide application of construction equipment like a backhoe loader that proven efficient during construction and is estimated to elevate massive deployment in the market which would benefit the India backhoe loader market growth in the forthcoming years.
India backhoe loader market is anticipated to gain traction in the upcoming six years on the back of the rising growth of the construction and agriculture sector in the country at the fastest pace. Further, the government is contributing more by investing in infrastructure development by building a 65000 km highway road by 2022 due to ensure smooth vehicle mobility which is likely to instigate the demand for backhoe loaders and is expected to boost the growth of the India backhoe loader market. The increasing improvement in rural infrastructure especially road development is also estimated to be another growth proliferating factor for the growth of the India backhoe loader market in the forthcoming years.
The India Backhoe Loader Market report provides a detailed analysis of the following market segments:
|1. Executive Summary|
|2.1. Key Highlights of the Report|
|2.2. Report Description|
|2.3. Market Scope & Segmentation|
|2.4. Research Methodology|
|3. India Backhoe Loader Market Overview|
|3.1. India Country Indicators|
|3.2. India Backhoe Loader Market Revenues, 2016-2026F|
|3.3. India Backhoe Loader Market – Industry Life Cycle|
|3.4. India Backhoe Loader Market – Porter’s Five Forces|
|3.5. India Backhoe Loader Market Revenue & Volume Share, By Types, 2019 & 2026F|
|3.6. India Backhoe Loader Market Revenue & Volume Share, By Product, 2019 & 2026F|
|3.7. India Backhoe Loader Market Revenue & Volume Share, By Applications, 2019 & 2026F|
|4. India Backhoe Loader Market Dynamics|
|4.1. Impact Analysis|
|4.2. Market Drivers|
|4.3. Market Restraints|
|5. India Backhoe Loader Market Trends|
|6. India Backhoe Loader Market Overview, By Types|
|6.1. India Centre Mount Backhoe Loader Market Revenues & Volume, 2016-2026F|
|6.2. India Side Shift Backhoe Loader Market Revenues & Volume, 2016-2026F|
|7. India Backhoe Loader Market Overview, By Product|
|7.1. India Articulated Backhoe Loader Market Revenues & Volume, 2016-2026F|
|7.2. India Rigidity Backhoe Loader Market Revenues & Volume, 2016-2026F|
|8. India Backhoe Loader Market Overview, By Applications|
|8.1. India Backhoe Loader Market Revenues & Volume, By Construction, 2016-2026F|
|8.2. India Backhoe Loader Market Revenues & Volume, By Landscape and Ground Maintenance, 2016-2026F|
|8.3. India Backhoe Loader Market Revenues & Volume, By Agriculture, 2016-2026F|
|8.4. India Backhoe Loader Market Revenues & Volume, By Mining, 2016-2026F|
|8.5. India Backhoe Loader Market Revenues & Volume, By Others, 2016-2026F|
|9. India Backhoe Loader Market Key Performance Indicators|
|10. India Backhoe Loader Market Opportunity Assessment|
|10.1. India Backhoe Loader Market Opportunity Assessment, By Types, 2026|
|10.2. India Backhoe Loader Market Opportunity Assessment, By Applications, 2026|
|11. India Backhoe Loader Market Competitive Landscape|
|11.1. India Backhoe Loader Market Revenue Share, By Companies, 2019|
|11.2. India Backhoe Loader Market Competitive Benchmarking, By Operating and Technical Parameters|
|12. Company Profiles|