USD 141.9 Billion
India Construction Equipment Market Size, Share, Growth Analysis, By Type(Earthmoving Equipment, Material Handling), By Application(Infrastructure, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG20B2043 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
66 |
Figures:
75
India Construction Equipment Market Insights
India Construction Equipment Market size was valued at USD 141.9 Billion in 2021 and is poised to grow from USD 150.27 Billion in 2022 to USD 252.23 Billion by 2030, at a CAGR of 6.6% during the forecast period (2023-2030).
One of the major drivers of the Indian construction equipment market is the government's ambitious infrastructure development plans. Initiatives like the "Smart Cities Mission" and "Make in India" have resulted in increased investments in the construction sector, leading to a surge in demand for construction equipment. The government's focus on building highways, airports, railways, and affordable housing has created substantial opportunities for equipment manufacturers and suppliers. Furthermore, urbanization in India is on the rise, with a significant portion of the population migrating to cities in search of better job prospects and improved living standards. This has fueled the demand for residential and commercial infrastructure projects, including high-rise buildings, shopping complexes, and housing colonies. To meet this demand, construction companies are increasingly adopting advanced equipment to enhance productivity and efficiency.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Earth Moving
Fastest Growth
Earth Moving
Growth Rate
6.6% CAGR
India Construction Equipment Market ($ Bn)
Country Share for North India Region (%)
India Construction Equipment Market By Type ($ Bn)
India Construction Equipment Market By Type (%)
To get more reports on the above market click here to Buy The Report
India Construction Equipment Market Segmental Analysis
India Construction Equipment Market is segmented on the basis of type, application, and region. By type, the market is segmented into Earthmoving Equipment, Material Handling, Concrete Equipment, Road Construction, and Construction Vehicles. By application, the market is segmented into Infrastructure, Industrials, Commercial, and Residential. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
Among the different types of construction equipment in the Indian market, the dominant segment is earthmoving equipment. Earthmoving equipment includes excavators, loaders, bulldozers, and motor graders, among others. These machines are extensively used in construction projects for tasks such as excavation, land clearing, and grading. The dominance of the Earthmoving Equipment segment can be attributed to the widespread demand for these machines across various construction applications in India.
On the other hand, the fastest-growing segment in the Indian construction equipment market is material handling equipment. Material handling equipment encompasses a range of machines such as cranes, forklifts, and hoists used for lifting, moving, and transporting materials at construction sites. The increasing focus on improving efficiency and productivity in construction operations has fueled the demand for material handling equipment in India. Factors such as urbanization, infrastructure development, and the growth of the logistics sector have contributed to the rapid growth of this segment.
Analysis By Application
In the India construction equipment market, among the applications of infrastructure, industrials, commercial, and residential, the dominant application is the infrastructure sector. The infrastructure segment encompasses the development of roads, bridges, airports, railways, and other public infrastructure projects. This sector is dominant due to the significant government investments in infrastructure development initiatives and the growing need for improved transportation and connectivity across the country.
On the other hand, the fastest-growing application in the India Construction Equipment Market is the residential sector. The residential segment includes the construction of houses, apartments, and residential complexes. The rapid urbanization, population growth, and increasing disposable incomes have fueled the demand for residential properties in India. Consequently, there is a rising need for construction equipment to support the construction of housing projects, leading to the fastest growth rate in this segment.
India Construction Equipment Market By Type, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
India Construction Equipment Market Regional Insights
Among the regions in India, the most dominant in terms of the construction equipment market is currently the North region. The North region encompasses states such as Delhi, Uttar Pradesh, Haryana, Punjab, and Rajasthan, among others. This dominance can be attributed to several factors. Firstly, the North region has a high concentration of major cities and urban centers, leading to increased infrastructure development activities. Additionally, the region hosts several government projects, such as metro rail networks, expressways, and smart city initiatives. The North region also benefits from a well-established industrial base, which drives the demand for construction equipment for manufacturing facilities and infrastructure projects.
However, when it comes to the fastest-growing region in the India construction equipment market, the South region stands out. The South region comprises states like Karnataka, Tamil Nadu, Telangana, and Andhra Pradesh, among others. This region is experiencing rapid growth in infrastructure development, driven by factors such as urbanization, expanding commercial hubs, and the presence of major IT and manufacturing industries. The South region is witnessing significant investments in projects such as highways, airports, seaports, and metro rail networks. The demand for construction equipment, including excavators, cranes, loaders, and concrete equipment, is on the rise in the South region, creating growth opportunities for market players.
India Construction Equipment Market By Geography, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
India Construction Equipment Market Dynamics
Drivers
Urbanization and Real Estate Boom
- India is currently witnessing rapid urbanization, with a rising population migrating towards urban areas. This urbanization trend has resulted in a surge of construction activities encompassing residential, commercial, and industrial projects. The concurrent real estate boom, coupled with urban development initiatives, is propelling the demand for construction equipment. Developers and contractors necessitate efficient machinery
Restraints
Lack of Skilled Operators
- The proficient operation of construction equipment necessitates skilled and trained operators. Unfortunately, the construction sector faces a scarcity of skilled manpower, posing a challenge in sourcing competent equipment operators. The dearth of skilled operators hampers the effective utilization of construction equipment and can impede project timelines and overall productivity.
Request Free Customization of this report to help us to meet your business objectives.
India Construction Equipment Market Competitive Landscape
The market is characterized by the presence of both domestic and international manufacturers. Domestic manufacturers have a strong foothold in the market and are often well-equipped to cater to the specific requirements of the Indian construction industry. They possess an in-depth understanding of local conditions, customer preferences, and the regulatory environment. On the other hand, international manufacturers bring advanced technology, global expertise, and established brand recognition, offering a wide range of equipment options to Indian customers. To gain a competitive edge, manufacturers in the India construction equipment market focus on various strategies. Product innovation plays a crucial role, as manufacturers strive to develop equipment with enhanced performance, fuel efficiency, and operator comfort. They invest in research and development activities to introduce advanced features and technologies, such as telematics, automation, and emission control systems, which align with industry trends and regulatory requirements.
Top Player’s Company Profile
- Tata Hitachi Construction Machinery Co. Ltd. (Japan)
- JCB India Ltd. (UK)
- L&T Construction Equipment Limited (India)
- Escorts Construction Equipment Ltd. (India)
- Mahindra Construction Equipment (India)
- ACE - Action Construction Equipment Ltd. (India)
- Kobelco Construction Equipment India Pvt. Ltd. (Japan)
- Hyundai Construction Equipment India Pvt. Ltd. (South Korea)
- BEML Limited (India)
- Volvo Construction Equipment India Pvt. Ltd. (Sweden)
- Doosan Bobcat India Pvt. Ltd. (South Korea)
- Schwing Stetter India Pvt. Ltd. (Germany)
- Sany Heavy Industry India Pvt. Ltd. (China)
- Case Construction Equipment India Pvt. Ltd. (US)
- Komatsu India Pvt. Ltd. (Japan)
- Caterpillar India Pvt. Ltd. (US)
- Wirtgen India Pvt. Ltd. (Germany)
- Atlas Copco India Ltd. (Sweden)
- Manitowoc Crane Group India Pvt. Ltd. (US)
- XCMG Construction Machinery India Pvt. Ltd. (China)
Recent Developments
- In August 2021, The Indian government continued to prioritize infrastructure development through various initiatives such as the Bharatmala Pariyojana, Sagarmala, and Smart Cities Mission. These programs provided significant opportunities for the construction equipment market, driving the demand for earthmoving machinery, concrete equipment, and road construction machinery.
- In July 2021, The construction equipment industry witnessed a shift towards digitalization and the adoption of advanced technologies. Manufacturers introduced IoT-enabled equipment, telematics systems, and digital platforms to enhance equipment performance, improve productivity, and enable remote monitoring and maintenance.
- In June 2021, The Indian government announced the implementation of the voluntary Vehicle Scrappage Policy, aimed at phasing out old and polluting vehicles. This policy had a positive impact on the construction equipment market, as it incentivized the replacement of outdated machinery with newer, more fuel-efficient, and environmentally friendly equipment.
- In March 2021, The Indian construction equipment market witnessed a surge in demand as infrastructure projects gained momentum. The government's focus on infrastructure development, including the National Infrastructure Pipeline (NIP), accelerated the demand for construction equipment across various sectors such as roads, railways, airports, and urban infrastructure.
India Construction Equipment Key Market Trends
- Advent of Digitalization: The Indian Construction Equipment market is currently experiencing notable trends. One key trend is the adoption of advanced technologies and digitalization, such as IoT and telematics systems, to provide smart and connected equipment solutions. Fuel efficiency and environmental sustainability are also gaining importance, leading to the development of eco-friendly equipment. Additionally, rental and leasing services are becoming popular, providing flexibility and cost-effectiveness to construction businesses. These trends are shaping the future of the India Construction Equipment market.
India Construction Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the Indian construction equipment market analysis, it is witnessing significant growth due to several factors. Rapid urbanization, infrastructure development initiatives, and the government's focus on affordable housing projects are driving the demand for construction equipment across the country. The report emphasizes the role of the government's initiatives such as "Make in India" and "Smart Cities Mission" in boosting the construction industry and creating a favorable environment for equipment manufacturers. The report delves into the segmentation of the India construction equipment market based on equipment type, application, and region. It provides detailed insights into the market size, growth rates, and market share of each segment. Key market players operating in the India construction equipment market are identified and assessed in the report. Their company profiles, product portfolios, market strategies, and recent developments are analyzed. The report emphasizes the competitive landscape and the strategies employed by these players to gain a competitive edge. It highlights the significance of product innovation, partnerships, and mergers and acquisitions in the industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 141.9 Billion |
| Market size value in 2031 | USD 252.23 Billion |
| Growth Rate | 6.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on India Construction Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on India Construction Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the India Construction Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the India Construction Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the India Construction Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the India Construction Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
India Construction Equipment Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
