CONSTRUCTION EQUIPMENT COMPANIES IN INDIA - BESTSELLERS
Equipment

CONSTRUCTION EQUIPMENT COMPANIES IN INDIA - BESTSELLERS

With the Indian Government’s focus on the infrastructure sector, growth is expected in allied industries as well. Whether it is cement, steel or building material, each segment is witnessing action. The construction equipment industry has also witnessed good traction. Considering the second h...

With the Indian Government’s focus on the infrastructure sector, growth is expected in allied industries as well. Whether it is cement, steel or building material, each segment is witnessing action. The construction equipment industry has also witnessed good traction. Considering the second half of CY20 and first half of CY21, the volumes of construction equipment manufacturing in India seem to be on a growth trajectory. India is the fourth largest construction equipment market in the world, as China stands in first position, all by volume. The performance of construction equipment peaked in FY18 and then witnessed a decline. However, if the current scenario is considered, it is likely that, by FY22, volumes are expected to move towards peak volumes posted in FY18.                 In 2020, the industry as a whole witnessed around 63,500 units of construction equipment sold (a decline of 10-12 per cent). After this decline, the industry registered a growth of 65 per cent during January-June 2021 compared to the previous year, despite the second wave of COVID-19 impacting sales for a couple of months. The percentage growth may look higher as the base for the corresponding period in 2020 was lower. However, the growth is expected to sustain over the second half of CY21 as well. In all, the volume growth could be estimated in the range of 22-25 per cent.   Further, increased investments and the growing construction sector are expected to drive the Indian cranes market in the future. The cranes market is anticipated to register a CAGR of over 5 per cent during the forecast period 2020-2025. A considerable increase in construction activities represents one of the primary factors strengthening the growth of the crane market in India. Cranes are widely employed in different processes and discrete industries like oil and gas, power, civil engineering, construction and petrochemical industries to lift and transport heavy materials. With sectors showing growth prospects, volume growth is expected to be good. Like cranes, the material handling equipment segment is also expected to showcase growth. The forklift trucks market is expected to register a CAGR of over 6 per cent compared to diesel and petrol products during the forecast period 2020-2025. Forklift trucks are among the most common material handling equipment in the market.Overall, the construction equipment scenario seems to be improving and this is likely to continue till FY23. CONSTRUCTION EQUIPMENT COMPANIES - BEST SELLERSAsphalt Finishers: Ammann IndiaBackhoe Loaders: JCB IndiaCompaction Equipment: CASE IndiaCrawler Dozers: BEMLCrawler Excavators: Tata Hitachi Construction Machinery CompanyMini Excavators: Tata Hitachi Construction Machinery CompanyMobile Cranes: Action Construction Equipment Motor Graders: Caterpillar India Rigid Dump Trucks: Caterpillar India Skid-Steer Loaders: Doosan Bobcat India Wheeled Loaders: JCB India

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