According to MarkNtel Advisors study the India Construction Equipment (CE) Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28.

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Key Findings of the Study: India Construction Equipment (CE) market

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.

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Scope of the Report and India Construction Equipment (CE) Market Segmentation:

By Type of Equipment

Earthmoving

• Backhoe Loader
• Excavator
• Wheel & other loaders
• Motor Grader

Material Handling

• Pick & Carry Cranes
• Crusher & Screener
• Compactors

Road & Highways

• Compactors
• Pavers

Among all, Earthmoving equipment acquired the largest market share, followed by material handling and road & highway equipment in the historical period.

India Construction Equipment (CE) Market Development:

In October 2022, JCB India unveiled three new excavators for infrastructure & mining, and quarrying applications at Udaipur. These machines will be built at JCB India’s cutting-edge factory in Pune and will then enter the global market. The new series comprises JCBNXT 225LC M, JCB315LC HD, and the JCB385LC and is suitable for arduous and challenging operating conditions in India.

Geographical Analysis:

By Region

• East
• West
• North
• South

Note: If you require specific information not covered in the current report, we can provide it through customized option

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