Despite the ups and downs of overall business, a reason for cheer is the stable sales of material handling equipment.

Quoting ICEMA’s Annual Data Report 2021-22, Dimitrov Krishnan, President, Indian Construction Equipment Manufacturers Association (ICEMA), and Managing Director, Volvo CE India, points out, “The material handling equipment segment, which accounts for about 9 per cent of the construction equipment industry’s sales, remained largely stable during FY 22, witnessing ~2 per cent YoY [year-on-year] growth to about 7,895 units.”

Mobile cranes are a leading constituent of the material handling equipment segment. From a peak of 11,827 units in 2018, the overall demand for mobile cranes fell through 2019 and 2020, only to recover…