India Construction Equipment Market Set to Register Strong Growth Momentum at 25% CAGR by 2028

This comprehensive India Construction Equipment (CE) Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

“According to recent market analysis report, the India Construction Equipment (CE) Market is expected to grow at a CAGR of 25% during the forecast period of 2023 to 2028.”

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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.

Market Segment Highlights:

• 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)),
• By Region (East, West, North, South)

Earthmoving Equipment Acquired the Largest Market Share

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.

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India Construction Equipment (CE) Market Competition Analysis:

Some of the top Construction Equipment (CE) companies operating in the India market 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, L&T Construction, Tata Hitachi Construction Machinery Company Pvt Ltd, Others..

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