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Construction and Mining Equipment Market in India Poised to Experience Demand of Over 160 Thousand Units by 2018
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Total demand for select construction and mining equipment market in India was found to be 105,811 units in FY2013. The market for new C&ME is likely to grow at a CAGR of 9.6% to 166,876 units in FY2018. Large allocations by government to public projects such as NHDP, Metro, and BRTS in India and strong emphasis on construction and real estate is likely to push demand for the construction and mining equipment. Government projects would account for 80% of the total demand. Mega projects and infrastructure development will fuel the demand for construction machinery and is expected to lead to a general shift towards higher-tonnage segments, e.g. Dumpers to shift from 50-100T to 100-150T segment.
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