The India Construction Equipment (CE) Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28. Currently, India is the third-largest construction equipment market after China and USA and is expected to achieve the second place by 2030.
India Construction Equipment (CE) Market Dynamics:
· Key Trends: Advent of Advanced Technologies in the Construction Sector
The rapid inclusion of advanced technologies in the CE space has put forth a suitable stage for the market players to showcase their potential in terms of innovative equipment. As such, the deployment of electronics and telematics has enhanced efficiency, while ongoing developments in hydraulics have reduced power losses, facilitating much higher value for the users. All this can be attributed to the escalating environmental concerns that have called for eco-friendly engine developments in order to lower emissions. Further, since the construction equipment industry worldwide is already embracing electro-mobility and autonomous solutions with the inclusion of technologies like IoT, virtual reality, and self-learning machines, India shall also witness such technological changes in the forthcoming years.
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Market Dimensions & Projections
· Pricing Evaluation
· Recent Strategic Moves by Companies
· Primary Stakeholders
· Import/Export Trend Analysis
· Competitive Landscape Assessment
· Emerging Opportunities
· Market Trends and Indicators
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India Construction Equipment (CE) Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2022
-Historical Period: 2018 to 2021
-Forecast Period: 2023-28
- By Type of Equipment
- Earthmoving
- Backhoe Loader
- Excavator
- Wheel & other loaders
- Motor Grader
- Material Handling
- Pick & Carry Cranes
- Crusher & Screener
- Compactors
- Road & Highways
- Compactors
- Pavers
- By Region
- East
- West
- North
- South
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Action Construction Equipment Ltd., CASE New Holland Construction Equipment India Pvt Ltd, Caterpillar, Escorts Ltd., Hyundai Construction Equipment India Pvt. Ltd, JCB India Limited, L&T Construction, Tata Hitachi Construction Machinery Company Pvt Ltd, Others.
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