Construction Equipment Market has seen tough times between 2012 and 2015 as the industry declined substantially after registering peak sales of around 72,000 units in 2011. It had seen green shoots of recovery since 2016 when industry grew by more than 36%. Continuing with the growing momentum the first half of 2017 too has witnessed considerable growth and the CE industry is estimated to grow fairly by more than 10% in the ongoing calendar year, according to Off-Highway Research. More so, the industry recorded a humongous growth of 25-30% in August & September of 2017 compared to the same months last year. As per the research agency, the industry is likely to cross the highest benchmark of 72,492 units in 2011 by recording sales of 73,000 units in this calendar year (2017). CII Excon 2017 highlighted that the construction equipment sector sold 68,000 units in FY 2016-17.
Growth has been estimated across all segments but the CE market will continue to be dominated by six major products namely backhoe loaders, crawler excavators, mobile cranes, mobile compressors, compaction equipment and wheeled loaders. With the rising investments & spending in infrastructure/construction sector, the equipment industry is all set to raise the demand intensity eventually.
Courtesy: Mr. Sameer Malhotra - COO at Sriram Automall India Ltd