An Optimistic outlook for the construction equipment sector in 2022

The outlook on India’s construction equipment sector is optimistic since the country’s needs for infrastructure will continue to grow massively. “Our present infrastructure is already bursting at the seams, with GDP growth the pressure on critical infrastructure will only continue to grow,” observes Blesson Varghese, Managing Director, Asia Astec. “A clear vision, purpose-driven governance and policies built around growth would mean that the market in India would more than double in the next five years.” “Recently, the Indian Construction Equipment Manufacturers Association said that India should become the second-largest market for construction equipment by 2030,” reports Deepak Shetty, CEO and MD, JCB India. Rapid urbanisation and infrastructure activities will help spur the Indian construction equipment market beyond $4.7 billion by 2025, estimates Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support), Sany Heavy Industry India. “Higher budgetary allocations to roads, metro rails, flyovers and commercial complexes will further boost the market over the next few years. Major projects include the bullet train, metro rails in urban areas, Bharatmala and Sagarmala. Increased mining activity and foreign direct investment are also boosting demand.”Click here to read more on ….