Indias Fastest Growing Construction Equipment Companies 2013

Debilitating global economic conditions and consequent curbs in infrastructure spending may have impacted India´s construction equipment industry´s sales momentum to a certain extent but a combination of development urgencies and political exigencies - the parliamentary elections next year is expected to spur growth. According to a study conducted by Indian Earthmoving and Construction Industry Association Ltd (IECIAL) and the Confederation of Indian Industry (CII) along with Accenture, the Indian earthmoving and construction equipment industry was being projected to grow six to seven times from total revenues of $3.3 billion in 2010 to $22.7 billion in 2020 with equipment sales volume slated to increase from 60,000 units in 2010 to 330,000 in 2020. The construction equipment market is expected to reach $6.5 billion by 2014 with the earthmoving sector alone commanding a value of $3.7 billion. Over the past four years, some of the major construction equipment players from the US, Japan, Korea, and even China have forayed into the Indian market as domestic equipment companies are taken to ramping up existing capacities or by diversifying their product portfolio through tie-ups. As per industry estimates, from 60,000 units sold during 2010, the figures could go up to 100,000 units in the coming year. The demand for equipment will stem from requirements in both core and industrial projects such as power, steel and logistics. Amongst the equipment required will be backhoe loaders, crawler excavators and dozers, mobile cranes, wheel loaders, asphalt pavers, motor graders, dump trucks, concrete and asphalt batching plants, compactors and concrete pumps.