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Backhoe Market Share

Report ID: GMI6510
Published Date: Jul 2024
Report Format: PDF

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Backhoe Market Share

Deere & Company (John Deere), CNH Industrial N.V., and Kubota Corporation held a significant market share of over 18% in 2023. They actively invest in cutting-edge technologies such as IoT, AI, and machine learning to develop intelligent backhoes. These machines boast features such as predictive maintenance, automated controls, and heightened operational efficiency. Moreover, the company tailors its backhoe solutions to cater to the specific demands of various sectors, including construction and agriculture.

CNH Industrial N.V. leverages telematics for real-time monitoring and data analytics, empowering clients to fine-tune equipment usage and maintenance. The company also directs investments towards targeted marketing initiatives, underscoring the durability, efficiency, and technological prowess of CNH backhoes.

Kubota Corporation seizes the urbanization trend by specializing in compact and mini backhoes, ideal for urban construction endeavors. Additionally, the company rolls out initiatives for recycling outdated machinery, making better deals with incentives for customers transitioning to newer, eco-friendly models.

Backhoe Market Companies

Deere & Company (John Deere)
CNH Industrial N.V.
Kubota Corporation
Hitachi Construction Machinery Co., Ltd.
Caterpillar Inc.
Doosan Infracore
Komatsu Ltd.
JCB (J.C. Bamford Excavators Ltd.)
Terex Corporation
Volvo Construction Equipment

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of Backhoe market was worth around USD 48.8 billion in 2023 and will witness over 5% CAGR from 2024 to 2032, driven by the rising environmental regulations and the growing focus on sustainability in the construction industry.

The construction and mining application segment held 55% share of the backhoe market share in 2023, driven by their versatility, cost-effectiveness, and ability to perform various tasks.

North America backhoe industry held over 33% share in 2023, propelled by increased infrastructure investments, urbanization, and technological advancements.

Some of the leading backhoe companies are Terex Corporation, Volvo Construction Equipment, Caterpillar Inc., Case Construction Equipment, Deere & Company, Komatsu Ltd., JCB, John Deere Construction & Forestry, Mahindra Construction Equipment, and Action Construction Equipment