The construction equipment market in India has become a front-runner in the global market space in the past few years. A lot of advancements and innovations are happening in the construction equipment space with more global players are entering the market to cash in the opportunities arising in the infrastructure development activities in India. Though the market has slowed down in the past one year, it can bounce back any time within the next year as a lot of activities are lined up in construction and mining segments in the country. The government is pushing hard with a slew of stimulus packages for the industry.

Track-mounted equipment find an important place in the Indian construction equipment market with the use of excavators, piling rigs, dozers, pavers and similar machines is growing over the years. With construction and mining activities are improving, the use of general equipment such as hydraulic crawler-mounted excavators is growing in construction and mining. While dozers are largely used in mining, there are many other trackmounted speciality machines used in mining and construction. Recently, the use of excavator-mounted piling rigs has been on the rise with many big scale projects like metro, bridges and sea-links are taking off. In a nutshell, the opportunity for track-mounted equipment is immense in the coming years. This is a positive scenario for undercarriages and parts manufacturers in OEM and aftermarket segments. Currently, the demand from OEM market is low due to the prevailing market conditions, but aftermarket is still a demand driver. Soon, the OEM market is expected to catch up.

In spite of these positive trends, the market for undercarriage parts and components needs to gain pace in the coming years. Compared to global market, the segment in India is still moving at a slow pace. Upgraded maintenance practices and developing advanced components matching the growing requirements of the OEM market can put the segment on fast track.