India Construction Equipment (CE) Market Research Report: Forecast (2023-2028)

By Type of Equipment (Earthmoving (Backhoe Loader, Excavator, Wheel & other loaders, Motor Grader), Material Handling (Pick & Carry Cranes, Crusher & Screener, Compactors), Road & Highways (Compactors... ... Highways (Compactors, Pavers)), By Region (East, West, North, South), By Competitors (Action Construction Equipment Ltd., CASE New Holland Construction Equipment India Pvt Ltd, Caterpillar, Escorts Ltd., Hyundai Construction Equipment India Pvt. Ltd, JCB India Limited, L&T Construction, Tata Hitachi Construction Machinery Company Pvt Ltd, Others.) Read more

  • Buildings, Construction, Metals & Mining
  • May 2023
  • 98
  • PDF, Excel, PPT

Market Definition

Construction equipment is specially designed machinery that carries out heavy-duty operations in the construction sector with high efficiency & in minimal time. The most common varieties of construction equipment include excavators, loaders, bulldozers, skid steer loaders, motor graders, crawler loaders, trenchers, dump trucks, cranes, forklifts, tippers, road rollers, & diesel generators, among others

Market Insights & Analysis: India Construction Equipment (CE) Market (2023-28)

The India Construction Equipment (CE) Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28. Currently, India is the third-largest construction equipment market after China and USA and is expected to achieve the second place by 2030. Such anticipation is backed by the government’s ambitious infrastructure development plans like National Monetisation Pipeline, Gatishakti, and the establishment of the National Bank for Financing Infrastructure and Development, announced in the recent past. With already exporting to 110 countries, the Indian Construction Industry is likely to thrive through these initiatives.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 25%
Region Covered North, East, West, South
Key Companies Profiled Action Construction Equipment Ltd., CASE New Holland Construction Equipment India Pvt Ltd, Caterpillar, Escorts Ltd., Hyundai Construction Equipment India Pvt. Ltd, JCB India Limited, L&T Construction, Tata Hitachi Construction Machinery Company Pvt Ltd, Others.
Unit Denominations USD Million/Billion

 

Further, numerous civil engineering and smart city projects are already hinting at the market expansion with the large-scale adoption of mini excavators. Other than this, the strengthening real estate enabling pocket-friendly housing projects is prompting more construction activities in the future, thereby directly influencing market growth. Further, with the government emphasizing renewable energy resources for power generation, there has been a clear forecast for substantial FDI inflow in the coming years. Likewise, a swift surge in coal and iron ore sales accompanied by inflating commodities prices is expected to push the country's mining industry. In the same vein, government initiatives like Atmanirbhar Bharat and Make in India further prompt the manufacturing sector growth. These aspects altogether are likely to influence the construction market positively in the coming years.

Market Dynamics

Key Trends: Advent of Advanced Technologies in the Construction Sector

The rapid inclusion of advanced technologies in the CE space has put forth a suitable stage for the market players to showcase their potential in terms of innovative equipment. As such, the deployment of electronics and telematics has enhanced efficiency, while ongoing developments in hydraulics have reduced power losses, facilitating much higher value for the users. All this can be attributed to the escalating environmental concerns that have called for eco-friendly engine developments in order to lower emissions. Further, since the construction equipment industry worldwide is already embracing electro-mobility and autonomous solutions with the inclusion of technologies like IoT, virtual reality, and self-learning machines, India shall also witness such technological changes in the forthcoming years.

Growth Opportunities: Leveraging the Rental Industry

With massive machines being deployed by rental companies each year, Equipment rental in the CE industry has witnessed a rapid surge in the past few years. Despite this, India’s rental market, being fragmented and unstructured, is still restricted at the local level. However, numerous attractive financing options for rental equipment bring forth the opportunity for investors and manufacturers. Keeping their eyes on the market trends and actively participating in global exhibitions for the construction equipment industry like Excon, 2021 a 5-DAY hosted by India. Such events enable market players to showcase class-leading product solutions that exhibit innovation in design, performance, efficiency, and safety, including the integration of digital technology in our products.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. India Construction Equipment (CE) Market Regulations, Standards & Certifications
  5. India Construction Equipment (CE) Market Porters Analysis
    1. Bargaining Power of Suppliers
    2. Bargaining Power of Buyers
    3. Threat of New Entrants
    4. Threat of Substitutes
    5. Degree of Competition
  6. India Construction Equipment (CE) Technical Analysis
    1. Approximate Cost of Each Equipment
    2. Life Span
    3. End User Wise Demand Share
  7. India Construction Equipment (CE) Market Trends & Insights
  8. India Construction Equipment (CE) Market Dynamics
    1. Drivers
    2. Challenges
  9. India Construction Equipment (CE) Market Profitability Analysis, 2023
    1. Cost Break-up (2019 Vs 2022)
      1. Raw Material Cost
      2. Fixed or semi-variable Cost
      3. Repair Maintenance
      4. Warranty & After Sales Costs
      5. Employee Costs
      6. Others
  10. India Construction Equipment (CE) Market Outlook, 2018-2028
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. Units Sold
    2. Market Share & Analysis
      1. By Type of Equipment
        1. Earthmoving
          1. Backhoe Loader
          2. Excavator
          3. Wheel & other loaders
          4. Motor Grader
        2. Material Handling
          1. Pick & Carry Cranes
          2. Crusher & Screener
          3. Compactors
        3. Road & Highways
          1. Compactors
          2. Pavers
      2. By Region
        1. East
        2. West
        3. North
        4. South
      3. By Competitors
        1. Market Share & Analysis
        2. Competition Characteristics
  11. India Earth Moving Equipment (CE) Market Outlook, 2018-2028
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. Units Sold
    2. Market Share & Analysis
      1. By Type of Equipment
      2. By Region
  12. India Material Handling Equipment (CE) Market Outlook, 2018-2028
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. Units Sold
    2. Market Share & Analysis
      1. By Type of Equipment
      2. By Region
  13. India Roads & Highways Equipment (CE) Market Outlook, 2018-2028
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. Units Sold
    2. Market Share & Analysis
      1. By Type of Equipment
      2. By Region
  14. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Key Customer Analysis (Future potential end used customer if any)
      5. Supply Contract
      6. Technological Development
      7. Strategic Alliances
      8. Strategic Initiatives
    2. Company Profiles
      1. Action Construction Equipment Ltd.
      2. CASE New Holland Construction Equipment India Pvt Ltd
      3. Caterpillar
      4. Escorts Ltd.
      5. Hyundai Construction Equipment India Pvt. Ltd
      6. JCB India Limited
      7. L&T Construction
      8. Tata Hitachi Construction Machinery Company Pvt Ltd
  15. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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