India Construction Equipment (CE) Market Witness Highest Growth at a CAGR of 25% by 2028

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

India Construction Equipment (CE) Market Overview and Insights:

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

India Construction Equipment (CE) Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Time Period Captured in the Report:

 Historical Years: 2018-21

  Base Years: 2022

  Forecast Years: 2023-28

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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.

Who are the Key Players Operating in the India Construction Equipment (CE) Industry?

The top companies of the India Construction Equipment (CE) market ruling the industry are: 

  • Action Construction Equipment Ltd.
  • CASE New Holland Construction Equipment India Pvt Ltd
  • Caterpillar
  • Escorts Ltd.
  • Hyundai Construction Equipment India Pvt. Ltd
  • JCB India Limited
  • LT Construction
  • Tata Hitachi Construction Machinery Company Pvt Ltd

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What is Included in India Construction Equipment (CE) Market Segmentation?

The report has segmented the market into the following categories:

-By Type of Equipment

  • Earthmoving
  • Material Handling
  • Road Highways

Among all, Earthmoving equipment acquired the largest market share, followed by material handling and road highway equipment in the historical period. This achievement attributes to the wide adoption of excavators and backhoe loaders, having registered the fastest growth in recent years and is likely to drive the market during the forecast period. The rapidly growing renewable energy sector, paired with the mining industry, is the primary factor backing the growth of backhoe loaders and excavators across the country. In fact, India is the largest market for backhoe loaders worldwide.

With its higher flexibility affordability, and the ability to operate on uneven and muddy surfaces, the equipment has gained traction in the Indian market. Besides, the active participation of the government towards infrastructural upgradation and the strong presence of construction giants, such as JCB, one of the prominent manufacturers of backhoe loaders, and ACE, the leading material handling and construction equipment manufacturer across India, has further ignited the sales of this equipment. On the other hand, burgeoning real estate and budget-friendly housing projects have stimulated the need for large towers and fixed cranes in the Indian market, thereby bolstering industry expansion.

Geographical Analysis:

-By Region

  • East
  • West
  • North
  • South

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