The Indian Construction Equipment Market was valued at US$ 6.66 Bn. in 2021 and is estimated to reach a value of US$ 12.4 Bn. in 2029. The Global India Construction Equipment Market size is estimated to grow at a CAGR of 8.9% over the forecast period.
The report goes into the world of construction equipment, spanning equipment made for labor-intensive tasks like lifting, digging, and material handling. The construction equipment market in India is expanding significantly as a result of factors such the strong increase in the commercial, residential, and industrial sectors, as well as growing public-private partnerships and the global economic boom. The choice of appropriate construction equipment is important for many projects since machinery made in India has an impact on international markets. These tools, which meet a variety of purposes, are essential to the construction process and guarantee the project’s economic sustainability, quality, safety, speed, and timely completion.
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Segment Analysis and Dynamics:
The Type, End-User, and Region sectors of the India Construction Equipment Market are carefully examined in the study. The research provides a thorough study of the industry’s quick development by using data from market participants and covering areas including North America, Asia Pacific, Europe, Middle East & Africa, and South America. The study provides insights into the market’s drivers, constraints, prospects, and barriers by using historical data from 2017 to 2020. The investor suggestions in this research report from Maximize Market Research (MMR) are based on a careful examination of the competitive environment.
Key Highlights:
- The research analyses the years 2022 to 2029, using 2021 as the forecasting base year.
- Real data, important player outputs, and five-year global trends are used to determine the growth trajectory.
- The extraordinary year 2020, characterized by region-specific lockdowns, is examined for significant developments and challenges.
- Sales increased in Q3 2021–22 by 23% year over year, demonstrating the recovery and expansion of the construction equipment sector.
- Indian construction equipment’s widespread use is creating business potential.
- The worldwide building industry is being influenced by technological improvements made by Indian firms.
- A strong construction industry and favorable demographics present opportunities and growth prospects in India’s market for construction equipment.
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Key Players and Regional Insights:
The competitive environment is shaped by industry behemoths including Caterpillar, Komatsu, Volvo Construction Equipment, JCB, XCMG, SANY, Hyundai Construction Equipment, TATA, Hitachi, Liebherr, Kobelco, Zoomlion Heavy Industry Science & Technology, and L&T Construction & Mining Machinery.
With a focus on North India, South India, East India, and West India, the research offers regional perspectives.
Design, price, financial standing, product portfolio, expansion strategy, and regional presence of significant companies are all included in a thorough examination.
Scope and Forecast:
With a projected period of 2022–2029, the report’s coverage runs from 2017 to 2021.
With a forecasted CAGR of 8.9% from 2022 to 2029 and a market size of USD 12.4 billion in 2029, the market had a value of USD 6.66 billion in 2021.
Earthmoving Equipment, Material Handling Equipment, and Heavy Construction Vehicles are included in the segment-wise insights.
Infrastructure, Construction, Mining, Oil & Gas, and Manufacturing are included in the end-user segmentation.
Excavation & Demolition, Heavy Lifting, Tunnelling, Material Handling, and Recycling & Waste Management are among the applications addressed.
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