Sales of backhoe loaders in India are forecast to reach 27,000 machines this year. Although this will still make India by far the largest backhoe loader market in the world, that figure represents a 32 per cent decline on 2019’s sales and a more than 40 per cent fall on the record volume achieved in 2018.
These are among the findings of Off-Highway Research’s new Equipment Analysis on the Indian backhoe loader industry.
The backhoe loader is by far the most popular type of construction equipment in India. Its share of total equipment sales remained at between 45-48 per cent during 2015-2019 and the country’s backhoe loader sales represented 56 per cent of total global demand for these machines in 2019.
The backhoe loader market in the country is driven by sectors such roads, real estate, rural infrastructure, urban development, irrigation, agricultural activities, and industrial performance, which will be supported by the macro economic situation, policy and reforms, and availability of funds.
Leaving aside the current situation caused by the Covid-19 pandemic, the general atmosphere for the infrastructure development in the country is conducive for growth in construction and mining activities. There is an increased focus by the government on infrastructure development which is monitoring all projects at the highest level to swiftly remove hindrances.
The new Indian equipment analysis: Backhoe loaders report also looks at market size, market share, market structure product and component sourcing, pricing, truck population, end-user groups and machines available. The report is now available to download for subscribers to the Indian Service, who can login here. It can also be bought by non-subscribers – click here for more details.
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