Kobelco Construction Equipment India launches sk80 excavator

03 Sep 2024 CW Team

Contact: Kobelco Construction Equipment

Website: www.kobelco-in.com

India’s construction equipment sector to reach $25 billion by 2030

India’s construction equipment industry is expected to grow at a CAGR of 12 per cent to reach $25 billion by the end of this decade, aided by the government’s focus on expanding the infrastructure sector, as per a report by Indian Construction Equipment Manufacturers Association (ICEMA). India is the world’s third-largest market for construction equipment (CE) with an industry size of around $10 billion (FY24). India’s CE exports are currently worth about $0.7 billion comprising 0.4 per cent of global CE market size, which is projected to grow to $3 billion by 2030 (1.2 percent of global market), it added. Earthmoving equipment is the dominant segment with a 72 per cent share in FY23 and is expected to continue to dominate the market.

India's EV market set to hit $48.6 billion by 2030

India's electric vehicle (EV) market is projected to reach $48.6 billion by 2030, according to a report by Forvis Mazars. This significant growth is driven by the rapid expansion of public battery electric vehicle (BEV) charging stations, which increased nearly nine-fold from 1,800 in February 2022 to 16,347 in March 2024, highlighting India's efforts to meet the rising demand for EVs. By 2030, India is projected to have around 50 million EVs on its roads, with a market size expected to reach $48.6 billion. To meet this demand, India will need to install over 400,000 chargers annually, totalling 1.32 million chargers by 2030. The Ministry of Heavy Industries has approved 2,877 EV charging stations across multiple states and 1,576 stations on 16 highways and nine expressways. Globally, electric car sales surged by 27 per cent from 2022 to 2023.

Ather Energy partners with Amara Raja Electric two-wheeler maker

Ather Energy has signed a pact with battery manufacturer Amara Raja Energy and Mobility (ARE & M) to develop and source Lithium-ion (Li-ion) battery cells for its electric scooters, a move which will promote domestic cell manufacturing and innovation.These cells will be produced at Amara Raja’s upcoming Gigafactory in Telangana for which it invested around Rs.95 billion for a 16 GWh capacity facility. Under the agreement, Amara Raja will collaborate with Ather to develop and supply Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) Li-ion cells.

Contact: Ather Energy

Website: www.atherenergy.com

Global hydraulic hammer market to grow to USD 2.6 billion by 2033

The global hydraulic hammer market is projected to grow significantly over the next decade, rising from USD 1.5 billion in 2024 to USD 2.6 billion by the end of 2033, with an anticipated compound annual growth rate (CAGR) of 5.9 percent from 2024 to 2033. This growth is largely driven by the modernisation and development of infrastructure within the construction industry, which has led to an increased demand for hydraulic hammers worldwide. These powerful tools are integral to construction activities such as excavation and demolition, making them essential for infrastructure development and renovation projects.

Kobelco Construction Equipment India launched the SK80 excavator in Chennai. The Made-in-India eight-tonne category mid-segment excavator was unveiled by Takemichi Hirakawa, Managing Director, Kobelco Construction Equipment India in the presence of channel partners. The SK80 excavator boasts of several innovative features like superior technology, advanced hydraulic system, fuel efficiency, operator comfort, durability, maintenance and versatility which set it apart from its competitors and underlines its commitment to sustainability. The SK80 excavator requires minimal maintenance, ensures maximum uptime and productivity. Kobelco offers unique solutions involving earth movers and cranes for construction sites. Contact: Kobelco Construction EquipmentWebsite: www.kobelco-in.comIndia’s construction equipment sector to reach $25 billion by 2030 India’s construction equipment industry is expected to grow at a CAGR of 12 per cent to reach $25 billion by the end of this decade, aided by the government’s focus on expanding the infrastructure sector, as per a report by Indian Construction Equipment Manufacturers Association (ICEMA). India is the world’s third-largest market for construction equipment (CE) with an industry size of around $10 billion (FY24). India’s CE exports are currently worth about $0.7 billion comprising 0.4 per cent of global CE market size, which is projected to grow to $3 billion by 2030 (1.2 percent of global market), it added. Earthmoving equipment is the dominant segment with a 72 per cent share in FY23 and is expected to continue to dominate the market.India's EV market set to hit $48.6 billion by 2030India's electric vehicle (EV) market is projected to reach $48.6 billion by 2030, according to a report by Forvis Mazars. This significant growth is driven by the rapid expansion of public battery electric vehicle (BEV) charging stations, which increased nearly nine-fold from 1,800 in February 2022 to 16,347 in March 2024, highlighting India's efforts to meet the rising demand for EVs. By 2030, India is projected to have around 50 million EVs on its roads, with a market size expected to reach $48.6 billion. To meet this demand, India will need to install over 400,000 chargers annually, totalling 1.32 million chargers by 2030. The Ministry of Heavy Industries has approved 2,877 EV charging stations across multiple states and 1,576 stations on 16 highways and nine expressways. Globally, electric car sales surged by 27 per cent from 2022 to 2023.Ather Energy partners with Amara Raja Electric two-wheeler makerAther Energy has signed a pact with battery manufacturer Amara Raja Energy and Mobility (ARE & M) to develop and source Lithium-ion (Li-ion) battery cells for its electric scooters, a move which will promote domestic cell manufacturing and innovation.These cells will be produced at Amara Raja’s upcoming Gigafactory in Telangana for which it invested around Rs.95 billion for a 16 GWh capacity facility. Under the agreement, Amara Raja will collaborate with Ather to develop and supply Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) Li-ion cells.Contact: Ather EnergyWebsite: www.atherenergy.comGlobal hydraulic hammer market to grow to USD 2.6 billion by 2033The global hydraulic hammer market is projected to grow significantly over the next decade, rising from USD 1.5 billion in 2024 to USD 2.6 billion by the end of 2033, with an anticipated compound annual growth rate (CAGR) of 5.9 percent from 2024 to 2033. This growth is largely driven by the modernisation and development of infrastructure within the construction industry, which has led to an increased demand for hydraulic hammers worldwide. These powerful tools are integral to construction activities such as excavation and demolition, making them essential for infrastructure development and renovation projects.

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