Increased real estate, civil facilities projects drive construction equipment market in India
The Construction Equipment Market In India includes multiple options like machines, derricks, hoists, material handling equipment, platforms, runways, safeguards, protective devices, cranes, and other smaller equipment. This market, as per the new report from Research On Global Markets is expected to grow at a 13% CAGR between FY 2015 to FY 2020 to reach a value of INR 327.4 bn by FY 2020.
The market had, in FY 2015, experienced sales of 68,200 units of construction equipment. In 2019, the Indian market for construction equipment is growing due to two very different reasons. The first is that there is a surge in investments in the infrastructure sector and the other is an overall growth being seen in the real estate sector.
This can be seen in the equipment category market segment, this segment includes earth moving equipment, concrete equipment, material handling equipment, road construction equipment, and material processing equipment. But, it is the segment for earth-moving equipment that exhibits the major share, and it is because of the amount of construction, clearing and, mining as is typically required for real estate and road building.
Other segments have developed in accordance with these two growth drivers of investments in the infrastructure sector and growth being in real estate as well. For example, our study of the segment for equipment type showed that backhoe loaders had the biggest share as this one piece of equipment had multiple applicants.
Some of the initiatives and other projects from the side of the government, the Ministry of Road Transport and Highways have been included in our study of Construction Equipment Market In India. Our report includes an analysis of the noted Value Engineering Program. We have focused on this as it entails the use of innovative technologies, new materials and, advanced equipment so that overall project costs can and bad environmental effects can be lowered.
Even with these developments, the market for construction equipment in India does have a few challenges, starting with the increasing environmental concerns and extremely stringent regulations, which are known to delay progress and approvals on many big projects for years, if need be.
This report describes those challenges in detail, and we have even provided an overall view of the market, by taking these factors into consideration.
Key Topics in this report
- The definition, structure, evolution and key manufacturing hubs in the market for construction equipment market in India.
- The market overview including the size and growth forecast for the given period of 2018-2023, both value and volume-wise.
- A closer look at each segment in this market based on all options inside the material handling equipment and material processing equipment sectors, including their structure and market size.
- The trade analysis of export of construction equipment including the data in terms of country of import, trade amount values.
- Competitive landscape, growth drivers, challenges new product trends in the market.