Construction equipment market records surge in domestic sales

12 Aug 2021 CW Team

President of the Indian Construction Equipment Manufacturers Association (ICEMA), Dimitrov Krishnan, told the media that Global players like Heungkuk India and Daechang Forging Company, both from Korea, are setting up new plants in Pune and Chennai. At the same time, local manufacturer Dozco India has invested in Vizag as a part of an Italian JV. He also said that the consolidated investment between these three is around $30 million.

Besides the new names, the existing manufacturers, including Schwing Stetter and JCB, are also planning new investments. Deepak Shetty, CEO and MD of JCB India, told the media that they are setting up their new factory for Rs 650 crore in Vadodara. He said that this project is proceeding forward and will be commissioned early next calendar year.

Schwing Stetter is putting up a new factory worth Rs 300 crore in Cheyyar in Tamil Nadu and setting up an R&D centre in the state with his concentration on domestic and export business.

The companies said that the CAPEX is a part of the 10-year action plan of the industry to develop this segment even though the current capacity utilisation is around 65%.

The build-up of the capacity is also for the exports with companies like Schwing Stetter, Volvo, JCB, Hitachi, Caterpillar and others, though in small numbers, all exporting out of India, but the drawback is increasing steel prices.

JCB’s Shetty told the media that both CRC and HRC prices went up by 100%, and the spot market was very volatile between last June and this. Additionally, he said that it is increasing the price of the infrastructure because they cannot absorb this kind of price increase. For example, JCB took a 1%-3% cost hike on July 1.

Image Source

Also read: Escorts Q1 results FY22: Net profit at 185.2 cr

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The year of the pandemic turned out to be a top gear for the construction equipment segment, which is depending on the government infra spend to witness over 15% increase in yearly domestic sales volumes in FY21 and a doubling of sales in Q1FY22 compared to last year. President of the Indian Construction Equipment Manufacturers Association (ICEMA), Dimitrov Krishnan, told the media that Global players like Heungkuk India and Daechang Forging Company, both from Korea, are setting up new plants in Pune and Chennai. At the same time, local manufacturer Dozco India has invested in Vizag as a part of an Italian JV. He also said that the consolidated investment between these three is around $30 million. Besides the new names, the existing manufacturers, including Schwing Stetter and JCB, are also planning new investments. Deepak Shetty, CEO and MD of JCB India, told the media that they are setting up their new factory for Rs 650 crore in Vadodara. He said that this project is proceeding forward and will be commissioned early next calendar year. Schwing Stetter is putting up a new factory worth Rs 300 crore in Cheyyar in Tamil Nadu and setting up an R&D centre in the state with his concentration on domestic and export business. The companies said that the CAPEX is a part of the 10-year action plan of the industry to develop this segment even though the current capacity utilisation is around 65%. The build-up of the capacity is also for the exports with companies like Schwing Stetter, Volvo, JCB, Hitachi, Caterpillar and others, though in small numbers, all exporting out of India, but the drawback is increasing steel prices. JCB’s Shetty told the media that both CRC and HRC prices went up by 100%, and the spot market was very volatile between last June and this. Additionally, he said that it is increasing the price of the infrastructure because they cannot absorb this kind of price increase. For example, JCB took a 1%-3% cost hike on July 1. Image Source Also read: Escorts Q1 results FY22: Net profit at 185.2 cr

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Infrastructure Transport

05 Sep 2025

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Infrastructure Transport

05 Sep 2025

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..