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With total equipment sales crossing 1,35,650 units as against 1,07,779 lakh units in FY23, the Indian Construction Equipment industry has recorded a 26 per cent increase in overall sales volume for the financial year 2023-24, surpassing all projections.
India s construction equipment industry saw a 26% increase in sales to 1,35,650 units in the 2023-24 fiscal, thanks to the government s infrastructure-led growth agenda. The Indian Construction Equipment Manufacturers Association (ICEMA) reported that the industry sold 1,07,779 units in the previous fiscal year. The government s infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments.
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ICEMA President V Vivekanand requested the government to ensure that the steady pace of execution of projects is maintained, which is critical for the consistent growth and development of the construction equipment industry. ICEMA is the nodal body representing the construction equipment industry in the country and is affiliated to Confederation of Indian Industry (CII).
India s construction sector, currently the world s third-largest, has the potential to become the top industry within five years, according to Nitin Gadkari, Minister for Road Transport and Highways. The sector will contribute to Prime Minister Narendra Modi s vision of a carbon neutral economy by embracing sustainable fuels like ethanol, methanol, and hydrogen.
India s construction sector, currently the world s third-largest, has the potential to become the top industry within five years, according to Nitin Gadkari, Minister for Road Transport and Highways. The sector will contribute to Prime Minister Narendra Modi s vision of a carbon neutral economy by embracing sustainable fuels like ethanol, methanol, and hydrogen.
Case India: With the introduction of six new products, CASE will enter two new categories in the domestic market at the largest construction equipment exhibition in South Asia taking place in Bengaluru between December 12 and 16.
According to ICEMA, the growth in sales during the second quarter of the current fiscal comes on the back of positive growth in all five of the CE industry s major equipment segments, viz., earth moving equipment by 23 per cent, road construction equipment by 65 per cent, material handling and material processing equipment by 66 per cent each and concrete equipment by 47 per cent.