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Testing & Interesting Times
Road construction and mining are doing well in the country despite the prevailing pandemic conditions. Both these are the demand drivers for earthmoving equipment. While highway projects are in full swing, rural road projects are also doing well in the country. Mining segment is picking up momentum after the policy revival. The government’s plan to introduce structural reforms in mining will bring in new vigour in mining industry. The proposed structural changes in the mining sector aim to increase participation of the private sector in mineral exploration, redefine the norms of exploration for auction of mineral blocks to ensure a seamless transition from exploration to production. This will boost the demand of earthmoving equipment further. The Cover Story explores the market scenario in earthmoving equipment, factors that impact the market revival in 2021 and the long-term market outlook.
The use of Aerial Work Platforms (AWP) is still in its infancy in India. While use of this equipment is mandatory in developed markets of US and Europe to access heights, in India there is no legislation for such mandatory use to work at heights. Also, there is extensive import of old used access equipment to the country which is preventing the growth of AWP market in India. However, in the new market condition, with many mega projects coming up in the country, users are gaining awareness about the advantages of AWPs and the demand is expected to improve in the coming years. The Feature explains more on AWP market in India and the market outlook. The CASH Special Focus on OTR Tyres explains the emerging trends in the market, new developments in products and technologies and the market opportunities. Also read other columns for a wider update on the industry.
Wishing all our readers a Happy, Safe and Prosperous New Year!