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Indian Construction Equipment Market Outlook 2018
In India, there is a potential ground of opportunities for the construction sector. The country is in a crucial phase of development where numerous projects are running in different regions, propelling the demand for construction equipments. Analyzing the developments taking place over the decade, there has been significant advancement in the sector. On the supply front, the market has evolved on technology, product utility, variants and price fronts.
Almost all major construction equipment companies across the globe have established presence in India either as joint ventures with Indian companies or as independent entities. Similarly, on the demand front, the Indian consumer has realized the importance of value proposition rather than money, thereby shifting the demand curve towards value driven products, more importantly quality services. The Indian construction equipment industry is projected to exhibit a cumulative annual growth rate of 19% during 2013-2018.
The latest RNCOS study titled “Indian Construction Equipment Market Outlook 2018”, is a comprehensive analysis of the industry, reflecting a holistic market performance of major equipments. Our report provides an in-depth analysis of top selling construction equipments in India namely backhoe loaders, excavators, mobile cranes, transit mixers and forklifts. Their individual market performances over the next five years, current sales across regions and key states in each region that have been assessed shall help the reader analyze the market potential. The report also studies the future demand for each of these equipments across the regions and reflects the top states in each region on the basis of upcoming construction projects in the key application verticals for the equipment.
Keeping tab on the upcoming construction projects in each application industry such as power, roads, ports, mining etc. is important to assess the demand for construction equipments. Our research describes in detail, the number of upcoming construction projects in each application industry in each state. It describes the latest industry trends, challenges, government policies and initiatives which need to be considered while devising business strategies. Descriptive profiling of key competitors reflects their businesses, product offerings, dealer network, and strength-weakness analyses.
Our careful analysis of the Indian construction equipment industry shall prove a decisive and informative guide to the industry players, entrants, policy makers and industry stakeholders.