Record high expected for Indian equipment market

By KHL Staff08 August 2017

Excon sunset jpeg

Construction equipment sales in India will grow +10% this year, continuing the momentum of the +36% surge seen in 2016, according to specialist consultant Off-Highway Research. This will see the market surpass the previous record high of 72,492 machine sales seen in 2011.

Off-Highway Research expects sales to exceed 73,000 units this year as the Government continues to place an emphasis on more intensive infrastructure development. The market in the first half of the year was particularly strong ahead of the implementation of the new national Goods and Services Tax (GST) on July 1.

Looking ahead, Off-Highway Research expects continued buoyancyin the market, although this will inevitably moderate in 2019 due to the general election. However, growth is expected to resume thereafter, with sales likely to exceed 90,000 units in 2021.

“Almost all types of equipment will witness growth, though the market will continue to be dominated by the six most popular products: backhoe loaders, crawler excavators, mobile cranes, mobile compressors, compaction equipment and wheeled loaders. Together these will account for 93 per cent of the market in 2021,” said Off-Highway Research’s Market Report.

Off-Highway Research’s report is published as part of the company’s Indian Service. Click here for more details.

Latest News
Armenia eyes €400m airport expansion
ACI Europe urges government to approve growth of the capital’s Zvartnots Airport
Companies partner to build a technological ecosystem
The companies will collaborate to build a technological ecosystem intended to improve the accuracy of data capture
Record number of women in construction
Statistics show that in the US percentage of women in the industry has never been higher