Construction equipment industry to grow in H2 of 2022: JCB India

CEO and Managing Director of JCB India, Deepak Shetty, told the media that the construction equipment business will grow in the second half (H2) of 2022 and will place the industry back to the pre-covid times. JCB, which recently inaugurated a Rs 1,000 crore facility in Vadodara, and told the media that it would continue to innovate, invest in innovation and alternate fuel. In 2021, the company launched many new products and planned to launch fuel-efficient machines to reduce the burden of inflationary challenges. CEO and Managing Director of JCB India, Deepak Shetty, said that in the last five years, the company might have improved fuel efficiency by 25%. The company aims to provide better fuel efficiency and reduce maintenance costs to reduce the overall cost of ownership of the product. He said that the new facility in Vadodara would provide employment to around 1,200 people, and half of them would be women. JCB has six factories in India, and 34% of its employees in Jaipur are female. The construction equipment industry has faced challenges, particularly due to the Covid-19 pandemic, as the construction equipment industry declined by 8%. He said that the company is exporting to over 110 countries from India. In 2021, its exports grew by nearly 300% despite a little slowdown in the market, which the company was able to supply. The company exports products to South Asia, Latin America and Africa. It is exporting from India to the US, Europe and Australia. Shetty said that JCB LiveLink, an Internet of Things (IoT)-based technology, over 2 lakh machines are connected to it. Image Source Also read: UK PM Johnson inaugurates JCB manufacturing unit at Vadodra