The April 2024 sales of the Indian construction equipment (CE) industry, at 9,990 units, were 5 per cent higher than the 9,544 units sold in April 2023. The YoY increase is a result of positive growth across all five major equipment segments. Of the total unit sales in April 2024, 9.136 units were sold domestically and 854 units exported.

Earthmoving Equipment, which accounts for approximately 70 per cent of the total CE sales in India, sold 6,860 units in April 2024 – 2 per cent more than in April 2023, as did material handling equipment at 1,221 unit sales. While sales of material processing equipment remained nearly static, at 221 units, road construction equipment and concrete equipment registered YoY increases of 33 per cent and 15 per cent, with April 2024 sales figures of 640 and 1,048 units respectively.

On a month-on-month basis, however, there has been degrowth of 31 per cent in April 2024, as compared to 14,562 units sold in March 2024, driven primarily by a 32 per cent drop in sales of earthmoving equipment, the segment that comprises the lion’s share of total CE sales in the country. The degrowth trend has been further reinforced by drop in sales across all equipment segments – road construction equipment by 28 per cent, material handling equipment by 29 per cent,  concrete equipment by 14 per cent and material processing equipment by 1 per cent.

The degrowth in month-on-month sales across all segments is also accompanied by a 22 per cent decline in exports during the same period.