LiuGong India is all set to introduce its first electric wheel loader LiuGong 856H-Electric launch in India, 2023. Nischal Mehrotra, Vice President-Sales & Marketing, shares more… Expectation from the expo: The trade fair will definitely bring new opportunities with new challenges. After a difficult year in 2019, when sales of construction and building material machinery fell to 80,000 units, experts at the market research institute “Off Highway Research” anticipated a significant upturn in the coming years: machine sales are expected to increase to up to 120,000 units by 2023. As per the present and upcoming forecast of the Government of India – especially the planned projects will surge the demand of these machineries. Hence, we are expecting construction equipment sales to increase by up to 40 per cent approximately. Product innovation this year: We are here to introduce our first electric wheel loader LiuGong 856H-Electric launch in India, 2023. This is a significant step towards our efforts on sustainable development through technology and innovation. The LiuGong 856H-Electric is a fully electric drive wheel loader, producing zero exhaust emissions, supporting customers’ environmental goals, while delivering the performance to our customers need. The brand-new loader retains the reliability and durability of LiuGong products. It features a proven electrohydraulic control management system and electrohydraulic control transmission and provides operators an ergonomic and comfortable cab. Zero exhaust emissions enable our customers to meet their environmental compliance needs, as well as help our customers lower their operations and maintenance costs. Its key features include: reliable hardware enabling stability and durability; intelligent management for energy and cost savings; flexible operation in a quiet and comfortable environment; and high power and productivity. Challenges faced in the industry: Lack of accreditation norms: There is a need for formal training of operators and accredited certification for the same. Unfavourable laws and taxes: The profit margins become smaller and slow, causing investors to lose interest in the industry as a profitable investment. Poor rental penetration: The concept of equipment rental as a business and service is relatively new and requires a sizeable investment to start with and the profits are yet to keep pace. Demand supply gap: There is a growing demand for construction equipment that have supporting software technologies integrated. While the demand and supply are both there, there is a drastic shortage of skilled labour that can make the most of technology.