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Stellar Future Ahead for the Indian Construction Equipment Industry

"The Indian Construction Equipment Industry is expected to witness promising growth owing to the government’s intent on increasing development of urban and rural infrastructure, particularly, roads and highways", says RNCOS

In India, there are immense opportunities for the construction sector. The country is in a rapid phase of development where numerous projects are being undertaken in different regions, propelling the demand for construction equipments. There was construction of 8,200 km of roadways during the year 2016-17. Analyzing the developments taking place over the past decade, a significant advancement in the sector is observed. On the supply front, the market has evolved on technology, product utility, variants and price fronts.

The latest RNCOS study titled "Indian Construction Equipment Market Outlook 2022" is a comprehensive analysis of the industry, reflecting a holistic market performance of major equipments. Our report provides an in-depth analysis of top-selling construction equipments in India namely backhoe loaders, excavators, mobile cranes, transit mixers and forklifts. Their individual market performances over the next five years, current sales across regions and key states in each region that have been assessed shall help the reader analyze the market potential. The report also studies the future demand for each of the mentioned equipments across regions and reflects the top states in each region that are preparing for upcoming construction projects in the key application verticals of the equipments.

Almost all major construction equipment companies across the globe have established presence in India either as joint ventures with Indian companies or as independent entities. Similarly, on the demand side, the Indian consumer has realized the importance of value proposition rather than money, therefore the demand curve is seen shifting towards value driven products, more importantly quality services. The Indian construction equipment industry is projected to exhibit growth with a double digit CAGR during 2016-2022.

Keeping tab on the upcoming construction projects in each application industry such as power, roads, ports, mining etc. is important to assess the demand for construction equipments. Our research describes in detail, the number of upcoming construction projects in each application industry in each state. It describes the latest industry trends, challenges, government policies and initiatives which need to be considered while devising business strategies. A descriptive profiling of key competitors has been done to reflect their businesses, product offerings, dealer network, and strength-weakness analyses.

Our present careful analysis of the Indian construction equipments industry shall provide a decisive and informative guide to the industry’s players, entrants, policy makers and other stakeholders.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.

by: Shushmul Maheshwari

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