Indian Construction Equipment Industry: Forging the path to become World No.2 by 2030
largest industry in the world by 2030, what are the grey areas that the CE fraternity and government should look at and resolve?
There are ample reports and enough recent data to confirm that India’s construction equipment industry is taking steady strides towards growing its presence at a global level – even as construction equipment manufacturers are strengthening their hold in the domestic market.
Let’s take a quick look at some interesting data, that sets the context for the future global domination of the Indian construction equipment industry;
- In 2021, India’s construction equipment exports grew to a record 15,454 units – a whopping 68
- Exports share of total construction equipment produced in the country in 2021, also touched a record high of 16
- India already stands as the single largest market in the world for backhoe loaders
- India is the global production base for a number of key construction machinery types
- Backhoe loaders, crawler excavators, compaction equipment, skid-steer loaders and rigid dump trucks accounted for 94
%of exports during 2017-2021
Clearly, the country’s construction equipment sector seems well-poised to make the leap from currently occupying third spot, to becoming the second largest construction equipment market, globally, by 2030.
To achieve this ambitious goal, what will be crucial is how construction equipment manufacturers – along with governmental support – focus and deliver on key growth drivers, from a global perspective.
The Government of India has announced massive infrastructure development projects such as the National Infrastructure Pipeline, multi-modal connectivity for states with a focus on roads, railways, airports, ports and waterways, and expansion of 25,000 kms of National Highway Network. These initiatives will definitely give a huge boost to India’s construction equipment sector.
Globally, two emerging themes are taking centre-stage for the future-readiness of this industry. One is the rapid adoption of innovation and digital tech in construction machinery. The other theme, is sustainability measures or eco-friendly tech advancements – especially in engine development – to deliver greater efficiency and lower emissions.
Mahindra Construction Equipment is strongly positioned to deliver on both these fronts. The innovative use of digital tech can be seen in our new-gen Mahindra EarthMaster backhoe loaders and Mahindra RoadMaster graders. These tech-advanced construction machines are the outcome of rigorous product development, at Mahindra’s state-of-the-art manufacturing plant at Chakan.
Mahindra EarthMaster and Mahindra RoadMaster construction vehicles are equipped with revolutionary Mahindra IMAXX Telematics technology, which performs the role of a virtual personal assistant, whereby our customer has easy access and control for monitoring and interfacing with his Mahindra EarthMaster or RoadMaster machine. The use of digital connected technology makes our products more efficient and productive, and truly futureready.
Along with deploying digital tech, the latest Mahindra EarthMaster and RoadMaster models are powered by Mahindra’s proven CEV IV CRDI engine, offering best-in-class fuel efficiency combined with low maintenance. This translates into greater profitability for our customers.
Going forward, Mahindra will continue its efforts at product innovation and development tooffer even more sophisticated, world-class, yet affordable and economical vehicles to customers.