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Construction : What's up | May 2016 | Source : Equipment India

India┬┤s CE market showing upward trend

India is considered a rapidly growing market for the global construction-machinery industry: Some 46,000 units are expected to be sold there in 2016. Last year, global sales of construction machines declined more than 10 per cent compared to 2014. Now the British economic forecast and market research company Off-Highway Research is predicting significant growth again in many important national markets. In concrete terms, analysts expect that more than 46,000 units could be sold in India this year-after some 39,000 units in 2015. According to Off-Highway Research, the Indian market could account for more than 80,000 sold construction machines in the year 2019. Based on the forecasts, nearly all types of equipment will profit from this growth, although six types of machines will continue to dominate the market: backhoe loaders, crawler excavators, mobile cranes, mobile compressors, compactors and wheel loaders. However, machines that could only be sold in smaller quantities in India in the past-such as mini-excavators, all-terrain forklifts and compact loaders-will also account for a larger share of the market.
 
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