Elaborating on the growth potential for tower cranes, he said, ?The Indian construction equipment market is expected to grow at a CAGR of 12 per cent to $4 billion by 2017. The tower crane segment has even higher growth opportunity in 2015-17 than the projected 12 per cent.? According to him, the real estate sector and the power sector will show a tremendous growth in these 2-3 years. The growth on the new segment of pre-cast economic homes will take a pace in the coming years, along with power sector. So, the tower crane requirement will increase to 30-40 per cent in these two years.

On the long term perspective, Ramdev said. ?The market growth by 2020 will be very high. The Indian manufacturers won?t be able to supply according to demands. So, we have better chance in the higher capacity tower cranes, high-speed passenger hoists and anti-collision devices. Current demand growth for tower cranes is mostly in realty sector.?

?We, at Everest Engineering are committed to the continued improvement of the services, product up-gradation and power saving solutions to existing tower cranes. We have achieved CRISIL rating certificate for services.? He added, ?We are planning to increase the capital expenditure to Rs 2-3 crore in the coming years.? Speaking on the prevailing scenario, Ramdev said, ?There is a positive trend on the construction industry, however, this has not yet reflected on the sales of the equipment as the projects are in the early stages. We expect a turnaround after the Union Budget in February/March 2015.?

?The major challenges in tower cranes are the non-availability of required raw materials and mechanisms. All the Indian manufacturers are still depending on foreign players, especially on China. To ?Make in India?, the government has to come up with motivations, investment policies and special zones, so that Indian companies can produce the required sizes of steel, tower crane mechanisms, motors, slew rings etc,? said Ramdev.

?We always select upgraded products suitable to Indian conditions of heavy voltage fluctuations, frequent power failures, non-calibrated DG sets, heavy monsoon/wind, high temperature of 48?C-50?C during summer etc.

So the quality-conscious customers looking for reliable and long lasting equipment are always select us on their priority vendor list. We also initiated continual customer feedbacks and performance improvements,? Ramdev summed up.

PV Ramdev, Managing Director, Everest Engineering Equipment