Indian equipment market to resume steep growth in 2013
By Chris Sleight01 August 2012
Construction equipment sales in India are expected to be about level with 2011 volumes this year at 71,255 units, according to a new report from Off-Highway Research. However, 2013 is expected to see the market's sharp growth resume, with a +16% rise to a record volume of 84,950 units.
The specialist forecaster expects near-double-digit year-on-year growth to be maintained for subsequent years, taking the market to 114,165 machines by 2016. This would cement India's position as the third biggest equipment market in the world in volume terms, behind China and the US, but ahead of Brazil and Germany.
Commenting on the expect growth in the market, Off-Highway Research said, "The construction equipment market will be driven largely by the planned development of infrastructure and the economic growth of the country under the ongoing 12th Five Year Plan (April 2012-March 2017), wherein the government has broadly planned for an investment of nearly UD$ 1 trillion on infrastructure."
Among the high volume machine types, crawler excavator segment looks set to benefit the most from this rise, with volumes expected to rise from this year's level of 16,500 units to some 40,000 in 2016. Backhoe loaders, which currently make up about half the Indian market in unit terms, are expected to see more subdued growth, with this year's volume of 33,500 units rising to 40,000 bu 2016.
The wheeled loader market is expected to more than double over the next four years, with volumes rising from 2,100 machines this year to 4,500 in 2016.
For more information visit www.offhighway.co.uk