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市场概况

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The India construction equipment market is projected to experience a compound annual growth rate (复合年增长率) 超过 8% 从 2022 到 2028. By 2028, it is expected to reach a value of over $7.5 十亿, up from $5.2 十亿 2022. 此外, sales in India’s construction market are expected to reach 165,097 单位为 2028. This growth can be attributed to the government’s investment in infrastructure, mining, and renewable energy projects.

The Indian economy faced significant challenges due to the COVID-19 pandemic, resulting in a GDP contraction of 7.7% 在 2020. 然而, 在 2021, the economy rebounded strongly with a growth rate of 8.9%. This was primarily driven by high government investments in sectors such as renewable energy (24%), roads and highways (19%), urban infrastructure (16%), railways (13%), 和别的 (28%), which includes mining, manufacturing, and agriculture.

According to a report by the International Monetary Fund (IMF), the Indian economy is projected to grow by 9.5% 在 2022 和 7.1% 在 2023. India offers a favorable business environment, ranking 62nd in the ease of doing business index in 2020. The country boasts an efficient administrative setup, attractive foreign policies, and a young and skilled workforce. The government’s initiatives to relax foreign investment norms in construction, transport, and renewable energy sectors have attracted foreign direct investment (FDI). 此外, the government provides tax incentives, support services, import duty exemptions, and free trade zones to promote FDI inflows. 在 2020, 服务, 建造, and manufacturing were the leading industries that attracted nearly 40% of FDI inflows.

Under the National Infrastructure Plan, the Indian government plans to invest USD 1.4 trillion in 2021. This includes major projects such as the Delhi-Mumbai Trade Corridors, Gujarat International Finance Tec City, Chennai Metro Rail, Diamond Quadrilateral, Nagapattinam Oil Refinery Plant, Jewar International Airport, Navi Mumbai International Airport, and Paradip Paraxylene Purified Terephthalic Acid Plant.

在 2020, the Indian government allocated USD 212.8 billion for the development of road infrastructure by 2030. The union budget for 2020-2021 further supported this plan, with USD 24.2 billion being disbursed for transport infrastructure.

The real estate sector in India is expected to reach USD 1 trillion by 2030. Prior to the COVID-19 pandemic, it was projected to contribute 13% to India’s GDP by 2025. 在 2022, Indian firms are estimated to raise USD 48 billion through infrastructure and real estate investment trusts. The government’s Housing for All initiative is expected to bring in USD 1.3 trillion in investments in the housing sector by 2025. The Pradhan Mantri Awas Yojana (Urban) scheme will boost affordable housing and construction activities in the country. Increased investment in the real estate sector will drive demand for construction equipment in India, particularly for renovation and new building construction.

To reduce dependency on fossil fuels, the Indian government has implemented measures to increase renewable energy supplies. The goal is to achieve an installed renewable energy capacity of 500 GW by 2030. To support this, India has approved 45 solar parks with a total capacity of 37 GW, including well-known parks in Pavagada, Kurnool, and Bhadla-II. The country is also focusing on becoming self-sufficient in manufacturing solar panels, with an investment of USD 3.2 billion planned under the Atmanirbhar Bharat scheme in 2022.

The increased investments in transport infrastructure and real estate sectors will drive the demand for excavators, backhoe loaders, and fixed and tower cranes. The renewable energy projects will also contribute to the demand for mini excavators and cranes in the Indian market.

在 2022, steel demand is expected to increase by 17% 达到 110 million tonnes, primarily due to the growth in construction activities.

然而, alongside the COVID-19 pandemic and related supply chain disruptions, the construction equipment industry in India has faced challenges from abnormal increases in steel prices since July 2020. The sharp rise in steel prices has increased manufacturing costs for construction equipment, impacting the demand for high-priced equipment like large excavators, motor graders, and cranes in the Indian market.

A major concern for the future of the construction industry is the shortage of skilled labor, which is expected to persist as demand continues to grow. The surge in demand has strained the construction industry, making it difficult to meet the increasing demand for services. A skill shortage is prevalent across various sectors, including the Indian construction sector. Based on projected growth in the infrastructure and real estate sectors, it is estimated that around 83 million people will be employed in this sector by 2022. 然而, the impact of the COVID-19 pandemic has exacerbated labor shortages. These shortages could lead to project delays, impacting construction equipment sales and reducing the demand for construction equipment in the Indian market.

There has been a surge in redevelopment and smart city projects throughout the country, driving demand for mini excavators. Their compact size and ability to operate in small, congested cities make them highly sought after. 此外, their affordability and high fuel efficiency contribute to their popularity in the Indian market.

The Indian Construction Equipment Manufacturers Association (ICEMA) reports an increasing focus on electric mobility options in the Indian construction equipment industry. The demand for electric equipment for commercial use is expected to increase by 15 times in the next six months. Rising manufacturing costs, fueled by increasing fuel prices, raw material prices, recycling, and energy costs, have further incentivized the shift towards renewable energy sources. 例如, SANY has already launched its first electric 300-ton excavator in February 2022 and aims to upgrade its capacity to 800 tons. 在 2021, Volvo introduced Smart Construction electric mobility, which includes pollution-free solutions.

The earthmoving segment is the largest in the Indian construction equipment market, followed by material handling and road construction equipment. Excavators and backhoe loaders were the fastest-growing major construction equipment in the market in 2021. Various government investments in infrastructure development, renewable energy projects, and the mining industry will drive the demand for excavators and backhoe loaders. India is the largest market for backhoe loaders globally. Their flexibility, affordability, and ability to operate on muddy and uneven surfaces make them extremely popular in the Indian construction market. Mini excavators are in demand due to civil engineering works and smart city projects, while large towers and fixed cranes are needed for real estate and affordable housing projects.

The growth of the construction industry is being driven by infrastructure investments and the national infrastructure development plan. The government’s focus on renewable energy resources for power generation will attract significant FDI inflows. The mining industry is also experiencing growth due to increasing commodity prices and rising demand for coal and iron ore. Government initiatives such as Make in India and Atmanirbhar Bharat promote the development of the manufacturing sector.

According to the ICEMA report, India’s construction equipment industry is expected to grow threefold and become the second-largest market by 2025.

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市场细分

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市场根据多种因素进行细分, 包括类型和最终用户.

按类型细分
土方设备 – 挖掘机, 反铲装载机, 平地机, 其他土方设备 (其他装载机, 推土机, 挖沟机)
物料搬运设备 – 起重机, 叉车 & 伸缩式装卸机, 高空作业平台 (曲臂式高空作业平台, 伸缩臂式升降机, 剪式举升机)
道路施工设备 – 压路机, 沥青摊铺机

按最终用户细分
建造
制造业
矿业
其他的

在 2021, the earthmoving equipment segment held the largest share of the India construction equipment market, 占 78.7%. It is projected to reach 132,611 单位为 2028, 复合年增长率 (复合年增长率) 的 9.06%. This segment is anticipated to maintain its dominance primarily due to the extensive utilization of earthmoving equipment in infrastructure construction and renewable energy projects.

Meanwhile, the construction segment accounted for 55.9% of the India construction equipment market in 2021. It is expected to grow at a CAGR of 9.64% and reach 97,688 单位为 2028. The construction industry plays a significant role in contributing to the country’s GDP. 而且, government initiatives and infrastructure development plans are poised to drive further growth in this segment.

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竞争格局

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The prominent companies in the Indian construction equipment market include JCB, L&时间, Caterpillar, Volvo CE, and ACE. Together, 杰西博, L&时间, ACE, and Caterpillar account for around 69% 的市场份额. 尤其, JCB holds a significant 80% share of the backhoe loaders market in India. Other notable vendors in the market include XCMG, 数字, 小松, Kobelco, Tata Hitachi, and Hyundai.

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已回答的关键问题

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What is the growth rate of the construction equipment market in India?

The construction equipment market in India is expected to grow at a Compound Annual Growth Rate (复合年增长率) 的 8.9%, with a market size valued at USD 5.2 十亿 2022.

Who are the key companies in the construction equipment market in India?

Some of the key players in the construction equipment market in India include Caterpillar, 小松, 沃尔沃建筑设备, 杰西博, XCMG, and SANY.

What are the latest market trends in the construction equipment market in India?

The latest trends in the Indian construction equipment market include a high demand for mini excavators in the construction sector and an increasing demand for electric mobility equipment in the industry.

What are the major drivers in the construction equipment market in India?

The Indian energy sector is expected to present an investment opportunity of USD 300 billion over the next ten years. 此外, the communication sector allocated USD 5.36 billion for the development of post and telecommunications departments, which is expected to drive market growth in India.

What are the government initiatives towards the construction equipment market in India?

The Indian government has planned to invest approximately USD 1.4 trillion in the country’s infrastructure. These substantial investments across various sectors of the construction industry in India will create opportunities for both national and international stakeholders in the market.