The Indian CE industry crossed 1,00,000-unit sales in 2022-2023
Sandeep Singh, Managing Director, Tata Hitachi Construction Machinery, speaks on the growing market for construction equipment in India.
Will your company be launching any products at Excon 2023 that align with Excons theme of Building a Better World through sustainable practices?
Excon is a very important platform to enhance brand visibility as well as communicate our various products, after-market products and solutions for customers, as well as offer solutions to cater to a wide range of applications and customer requirements. Tata Hitachi also seeks customer feedback on innovatively designed products and attachments for further improvement before launching them in the marketplace.
In terms of Excons theme of Building a Better World, for Tata Hitachi, it is a way of life to enhance sustainability in all that we do and produce. In the past, technologically advanced machines like the first hybrid excavator, the Hitachi ZH200, were showcased at the event to expose customers to state-of-the-art machines. The company also showcased the CNG-powered green backhoe loader SHINRAI PRIME at the last Excon.
The company launched the new five-tonne wheel loader ZW225, Sandvik rock breaker and indigenously designed state-of-the-art mini excavator model NX30 during Excon last year. Similarly, the companys indigenously designed and manufactured new generation backhoe loader, SHINRAI, was also launched at Excon 2017.
The new launches have been well accepted by our customers and our company has an exciting range of new launches lined up during the upcoming Excon to enable customers to experience next-generation machines to further expand their businesses and enhance their profitability.
How do you look at the market in India for your products?
The domestic construction equipment industry crossed the milestone of 1,00,000-unit sales in 2022-2023. The positive performance has been consistent across key segments, particularly in excavators, backhoe loaders and wheel loaders within the earthmoving category, which aligns closely with our companys product range.
The government continues its focus on driving growth of the economy through increased capex, and in this direction, the capex in FY23-24 is Rs 10 trillion (33 per cent). The major demand drivers where allocations have been increased as compared to FY22-23 are sectors like roads, railway, ports, urban development, Jal Jeevan Mission, etc.
Further, the capex of 15 major states has been increased by 21 per cent. Also, the target for coal production is 1,012 MT (up by 13.5 per cent from 892 MT in 2022-23). Given the above background of investments in infrastructure, the first half of the current financial year, domestic construction equipment sales have increased by >20 per cent YoY. Positive trends in the construction equipment industry underscore significant potential for growth in the coming years, leading to an increased demand for construction equipment.
Tata Hitachi leads the excavator market, offering a wide product range to meet diverse customer needs. In India, theres a substantial base of first-time buyers seeking cost-effective, value-driven equipment for reliable returns. Tata Hitachis EX excavator range is tailored to meet the diverse needs of both small-scale and large-scale customers, emphasising performance, reliability, durability, and long-term value.
The companys ZAXIS series of excavators incorporate state-of-the art features that offer high and long-term performance to meet customer requirements. Therefore, we offer products to meet the needs of every type of customer. Our product line-up includes excavators starting from two tonne mini-excavators, covering construction excavators and mining excavators till 800 tonne (including excavator range offered by Hitachi Construction Machinery). These are further complemented with our fuel-efficient SHINRAI backhoe loader models Pro, Prime and Power 4.
The three-tonne wheel loader (TL 340H) and five-tonne payload capacity (ZW 225) are manufactured in India, and those beyond five tonne payloads are imported from Hitachi Construction Machinery, Japan. Hitachi also manufactures AC drive dumpers of 190, 240 tonne and 290 tonne classes, which are sold and serviced in India by Tata Hitachi.
The company can leverage upon enhanced growth opportunities offered by the domestic construction equipment industry due to increased economic activity with our wide range of construction equipment, which has significantly contributed to growth of Tata Hitachis range of equipment.
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