India Construction Equipment Market (2023-2029) | Analysis, Size, Share, Revenue, Foreacst, Trends, Growth, Outlook, Industry & COVID-19 IMPACT

Latest 2023 Development of the India Construction Equipment Market

India Construction equipment market is witnessing an increase in demand due to the government's focus on infrastructure development, especially in rural areas. Additionally, the market has been witnessing technological advancements, with the introduction of new and innovative products that are more efficient and environment-friendly. Further, the rental market for construction equipment has been growing in India, with more companies and contractors preferring to rent equipment rather than purchase them. Moreover, the Indian government has launched various initiatives to boost the construction equipment market, such as the "Make in India" campaign, which aims to promote local manufacturing and reduce dependency on imports. Further, many companies are entering into joint ventures and collaborations to expand their market size. For instance, in 2021, Hyundai Construction Equipment and RSB Group entered into a joint venture to manufacture and distribute construction equipment in India. Additionally, the market is also witnessing a shift towards electric construction equipment, with companies introducing electric excavators, backhoe loaders, and other equipment.

The Indian government has announced a number of large-scale infrastructure projects, such as the Sagarmala project and the Bharatmala Pariyojana, which aim to improve the country's transportation and logistics networks. This has led to increased demand for construction equipment such as excavators, bulldozers, and cranes. Additionally, India Construction equipment industry has also witnessed a growing demand for rental equipment. Many construction companies in India are turning to rental equipment instead of purchasing their own, in order to reduce costs and increase flexibility. This has led to the growth of rental companies that offer a wide range of construction equipment. Moreover, as in many other industries, there is a growing focus on energy efficiency and sustainability in the construction equipment market. Manufacturers are developing more fuel-efficient and environmentally-friendly equipment, and there is an increasing demand from customers for these types of products.

India Construction Equipment Market Synopsis

India construction equipment market has been witnessing substantial growth during the past few years. The rising population, the influx of foreign direct investment in the country, and rising government spending on infrastructure projects are some of the key growth drivers of the India construction equipment market.

According to 6Wresearch, the India Construction Equipment Market size is likely to witness growth during 2020-to 2026. Growing public and private infrastructure projects, increasing economic development activities as well as increasing government focus on certain key projects such as Housing for all, Smart City, Golden Corridor, and extension of metros, rail and road networks across the country are some of the major factors which would drive the demand for construction equipment in India over the coming years. Surging disposable income coupled with the rising standard of living are driving the Construction Equipment Industry in India. Moreover, increasing modernization and industrialization are also some of the key factors proliferating the development of the market.  

The influx of novel coronavirus which originated in China at the end of 2019, might impact the growth of the construction and transportation sector in India which may act as a hurdle in the growth of India construction equipment market over the coming years. The outbreak of the novel coronavirus has also led to the destruction of the global economy. With the increasing number of patients and an increase in mortalities across the globe, the coronavirus has led to major health problems amongst the population across the globe. The panning out of income effect with the industrialists has led to a downfall in the market and is expected to leave a negative impact on the market growth in the coming timeframe up to the year 2021. However, as the number of cases linked to the coronavirus marks a fall, the construction industry is expected to ramp up and is expected to regain market potential.

Market Analysis by Equipment Types

Based on equipment types, earthmoving equipment including loaders, excavators, and cranes dominates the overall construction equipment market in India primarily due to the rising number of public-private partnerships, government initiatives such as smart city development projects as well as increasing government expenditure on the construction of roads, highways, flyovers, metros, and commercial complexes.

Key Highlights of the Report

• India Construction Equipment  Market Overview
• India Construction Equipment  Market Outlook
• India Construction Equipment  Market Forecast
• Historical Data of India Construction Equipment Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of India Construction Equipment Market Revenues and Volumes, Until 2026.
• Historical data of India Cranes Market for the Period 2016-2019.
• Market Size & Forecast of India Cranes Market, Until 2026.
• Historical data of India Bull Dozers & Construction Tractors Market for the Period 2016-2019.
• Market Size & Forecast of India Bull Dozers & Construction Tractors Market, Until 2026.
• Historical data of India Earth Moving Equipment Market for the Period 2016-2019.
• Market Size & Forecast of India Earthmoving Equipment Market, Until 2026.
• Historical data of India Material Handling Market for the Period 2016-2019.
• Market Size & Forecast of India Material Handling Market, Until 2026.
• Historical data of India Dump Trucks Market for the Period 2016-2019.
• Market Size & Forecast of India Dump Trucks Market, Until 2026.
• Historical data of India Aerial Work Platform Market for the Period 2016-2019.
• Market Size & Forecast of India Aerial Work Platform Market, Until 2026.
• Historical data of India Road Construction Equipment Market for the Period 2016-2019.
• Market Size & Forecast of India Road Construction Equipment Market, Until 2026.
• Historical Data of India Construction Equipment  Market Revenues and Volumes, by Applications, for the Period 2016-2019
• Market Size & Forecast of India Construction Equipment  Market Revenues and Volumes, by Applications, Until 2026
• Historical Data of India Construction Equipment  Market Revenues and Volumes, by Regions, for the Period 2016-2019
• Market Size & Forecast of India Construction Equipment  Market Revenues and Volumes, by Regions, Until 2026
• Market Drivers and Restraints
• India Construction Equipment  Market Trends and Industry Life Cycle
• Porter’s Five Forces Analysis
• Market Opportunity Assessment
• India Construction Equipment  Market Share, By Countries
• India Construction Equipment  Market Share, By Companies
• India Construction Equipment  Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The India construction equipment market report provides a detailed analysis of the following market segments:

• By Types:

  • Mobile Cranes
  • Construction Tractor and Bulldozer
  • Earthmoving Equipment
    • Loaders
    • Excavators
    • Motor Grader
  • Aerial Work Equipment
    • Articulated Boom Lifts
    • Telescopic Boom Lifts
    • Scissor Lifts
  • Material Handling Equipment
    • Telescopic Handlers
    • Forklifts
  • Dump Trucks
  • Road Construction Equipment
    • Pavers
    • Road Rollers

By Applications:

• Corporate Enterprise
• Oil and Gas
• Mining
• Others (Municipality, Road Construction)

By Regions:

• Northern
• Eastern
• Western
• Southern