A Backhoe loader is one of the major and versatile earth moving equipment. This construction machine used for demolition, paving roads, breaking asphalt, digging holes, setting up drainage system, laying pipes and different other construction works.
The usage of the Backhoe loader in different infrastructure projects define its multi-functionality and versatility, it suggests no matter which sector is being developed in India, the need of Backhoe loader is always there. As we have read various news reports that a huge infrastructure development has started taking place in India in different sectors, especially in the roads and Highways, dams, and railways sectors.
It is projected that demand for Backhoe loader in India will sustain for quite some time, therefore investment in purchasing new or used Backhoe loader will be a clever move.
As Backhoe loader is versatile earth moving equipment and used for different construction projects, so investing in purchasing this machine will not go in vain. If you are into the construction business, you are likely to get future projects due to infrastructure development in the country. Even if you will not have any project in hand, you can either sell-off your Backhoe loader on good price or give on rent.
Recently one of the leading Market research company Persistence Market Research said in its report that India will be the most lucrative and largest market in the world for Backhoe Loader over the period of next few years due to infrastructure development in the country.
As you see, even the reports are also suggesting the demand of the backhoe loaders in India.
Let me explain you, where the demand for Backhoe loaders is expected to come.
For the next five years, The Indian government has planned to award works worth Rs. 7 lakh crore to develop National Highways of around 50,000 km. In the current financial year (2016-17), National Highway Authority of India (NHAI) sets a target to award projects worth Rs 1 lakh crore covering the area of over 6600 km. Lately last year, Union Minister Mr. Nitin Gadkari had said that the government will invest Rs 25 lakh crore for the development of highways and shipping in 5 years.
According to one of the reports of PTI, earlier this month, the Civil Aviation Secretary RN Choubey said that to develop the airport infrastructure in India, USD 10 billion would be spent in the next five years.
To improve the existing railway infrastructure and mobility of its services, the government will invest USD 140 billion over the next five years.
As we know the demand for construction equipment both new and used construction machinery entirely depend on the infrastructure development in particular country. The investment in country’s infrastructure development indicates the demand for both new and second-hand Backhoe loaders will rise in India.