A new report from Off-Highway Research looks in-depth for the first time at the mini excavator industry in India, which has been established in only the last few years
In contrast to the more mature construction equipment markets of Western Europe, North America, Japan, and even China, where compact equipment accounts for a large proportion of machinery sales, demand for mini excavators in India has to date remained very small.
However, sales have grown over the last decade from 22 units in 2007 to a point where sales could reach 1,000 machines this year. There are now ten suppliers of mini excavators in India, three of which also manufacture such machines in the country.
“Off-Highway Research is bullish about the growth of the mini excavator market in the country and projects it to grow to 1,000 units in 2017 and reach a level of 1,500 units by 2021,” said the report.
At present mini excavators only have niche appeal in India. However, the usage is expanding and new applications are being established. With the increasing shortage of manual labour, dependency on machines is expected to continue to rise which will help grow the mini excavator market in the future.
Click here for more details on Off-Highway Research’s new report on the Indian mini excavator industry.