Mini Machines, Maximum Demand
Which compact models are growing faster than the overall CE industry? June 2020
Caterpillar India showcased its two new excavators launched for the Indian market along with another range of mining and construction equipment this year. Amit Bansal, Director-Sales and Marketing, Building Construction Products, shares more…
One pathbreaking offering: Caterpillar offers the equipment management and control system called AccuGrade, which provides equipment with optimum efficiency. This can be used across various machines, such as excavators, backhoe loaders, motor graders, dozers, etc.
Demand drivers in 2019: Currently, road construction is driving more demand, which also drives the growth of allied segments such as aggregates. Along with the growth in construction activities, mining (especially coal and iron ore) is also picking up.
Announcement contributing to the company’s growth in 2018: In 2018, we launched a new range of excavators, basically to address the needs of the construction industry in India. The new range is 15 per cent more fuel-efficient compared to its predecessors and provides 5 per cent savings in maintenance costs.
Challenge for the company in 2019: The general elections scheduled in 2019 can have a short-term impact on the overall industry. However, we don’t think it will be severe as the market will bounce back.
Key strategy to success in 2019: We always work towards making our customers successful in their business. The recent launch of two excavators is a step in this direction. We will continue to grow with the market and introduce the right products needed for customers in India.
Recommendation for growth of the construction equipment market: We have to keep evolving with the time and introduce newer technologies of global standards that can help customers reduce overall life-cycle cost. Second, we have to look at the long-term perspective as I believe we have the scope of growing at least two decades.