Sakthi Kumar of Schwing Stetter: Market for excavators should grow by 10%
Schwing Stetter India is a pioneer of concrete construction equipment manufacturing in India catering to the customers with world-class concreting equipment. The company has introduced path-breaking products in the Indian concrete pumping industry such as SP8800 concrete pumps, CP 30 batching plants and 10 cu m truck mixers, which has become synonymous within the RMC industry.
Speaking on the present size and growth rate of the hydraulic excavators market in India, VG Sakthi Kumar, Managing Director of Schwing Stetter (India), said, “Last year, the excavator market touched 18,000 units. The start of last year was good. Later on the numbers dipped due to Covid-19 pandemic. However from September onwards, the market picked up. Compared to other industries, 2020 was a good year for the construction equipment sector. But if your compare to the previous year (2019), the market is down by 20 per cent.”
He added, “In 2021, the market should grow by 10 per cent, because the demand for hydraulic excavators has remained high in the domestic market. In 2022, the market may touch 25,000 units.”
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