The construction equipment industry sees two emerging categories—infrastructure development in rural India and the creation of a strong healthcare system—as growth drivers in the coming years, even as the industry sees green shoots with the revival of infrastructure projects.
Reports show an impressive recovery for the Indian economy in the July-September quarter (Q2) from the record decline of the first quarter, indicating that the economic activity has been gathering pace. The economy in Q2 however continues to be contracted.
Alok Kumar Verma, Director - Mining Business (India Region), Hexagon Mining, elaborates on the mining scenario in India and how digital solutions can transform the industry.
Just when the 2020 financial year was coming to a close, it was hit by the COVID-19 pandemic. While the industry was already battling issues such as a liquidity crunch, rising bad loans, slowdown in capex, project delays and insolvencies, among others, the last quarter witnessed growth in the negative territory for most businesses. However, despite obstacles and uncertainties being at their peak, a few entities managed to persevere and prevail, posting growth and exhibiting excellence.
Like automotive industry, emerging advanced technologies are helping mining industry to upgrade as well as digitise their operations. According to various report, India is one of the largest exporters of iron ore, chromite, bauxite, mica and manganese.
For warehousing, Kool-ex has partnered with IndoSpace to build customised, GDP/GWP compliant, temperature controlled, pharma distribution centres across the country.
Taking cognizance of the adverse impact of the lockdown, CARE Ratings is expecting the real GDP growth at -20 per cent year-on-year (YoY) for Q1 FY21.
JCB has pioneered the integration of digital technology in its ‘Intelli’ series of construction equipment. Jasmeet Singh, AVP, Corporate Communications & Corporate Relations, JCB India, shares more.
With timely planning and execution, the government will be able to alleviate the current situation and lead the construction market on the road to recovery. Puneet Vidyarthi, Brand Leader, CASE India, CASE Construction Equipment, shares more on the market scenario.
Palletisation is the most visible aspect of a definite shift towards standardising and professionalising the sector in India, to increase its levels of efficiency, productivity and safety. Anil Lingayat writes.
In spite of the short-term ups and downs in the market volumes, the construction equipment (CE) industry is expected to touch close to the volume of 140,000 units by 2024-25.
Srei Equipment Finance (Srei Equipment), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), and UCO Bank, one of India?s premier public sector banks, announced a strategic alliance to offer joint loans for purchase of construction and mining, farm and medical equipment under a co-lending arrangement.
Tax concessions extended to sovereign and pension funds will go a long way in attracting long term financing solutions for infrastructure sector, says Sandeep Upadhyay, Managing Director ? Infrastructure, Centrum Capital.
By integrating specially manufactured ACE tower cranes in its business model, Central Park Flower Valley Project has recorded fast construction, significantly reducing the overall project cost.
Off-Highway Research forecasts that the market for construction equipment (CE) will dip in 2019 but follow an upward trend thereafter during 2020-2023. Samir Bansal elaborates.
The recent policy initiatives by the Central Government are expected to boost the mining activities in the country, providing new opportunities to private and global miners, and equipment and technology providers.
India's lubricant market is growing up with demand for industrial lubricants on the rise. More infrastructure developments and growth in manufacturing in the coming years will see further demand growth for industrial lubricants.
GS Caltex India is a 100 per cent subsidiary of GS Caltex, which is a 50:50 joint venture between GS Energy of South Korea and Chevron Corp of USA.
Rising industrial activity, coupled with the uptick in construction and an anticipated demand in mining sector is expected to drive the demand of tipper trucks in the coming years.
Global construction equipment sales hit an all-time high of 1.1 million units in 2018, with a retail value of approximately $110 billion, according to Off-Highway Research.
ATG has wide range of radial OTR tyres for loaders, graders, dumpers etc and we see a very good response from the market. Harinder Singh, President - APAC, Alliance Tire Group (ATG), elaborates on the market scenario and company's plans.
According to the UN's World Economic Situation and Prospects (WESP) 2019, India's GDP growth is expected to accelerate to 7.6 per cent in 2019-20 from an estimated 7.4 per cent in the current fiscal ending March 2019.
The verdict is out! GDP growth at 7.7 per cent is the highest in nine quarters. Construction growth at 11.5 per cent, manufacturing at 9 per cent apart from agriculture have been positive contributors.
Strong domestic demand generated by ongoing infrastructure development projects resulted in the construction equipment market rising to an all-time high of 72,197 units in 2011.
Infrastructure development has always been on top of the agenda for our country. Every government has given due importance for the development of infrastructure facilities such as roads, railways, ports, airports, and industrial infrastructure of the country.
The infrastructure sector is today undoubtedly one of the strong pillars of the Indian economy and the current Union Government is strongly focused in its approach towards development of infrastructure.
These are good times for construction equipment industry. Orders have gone up, thanks to a revival in the economy fuelled by government's affirmative actions to nurse the infra development sector back to health.
The Indian infrastructure sector is not slowing down anytime soon, given the government initiatives and market demand. This makes it a feasible environment for the growth of construction equipment, writes Andy Dhanaraj, Director - Sales, Caterpillar India.
Infrastructure development has been one of the top priorities of the Union Budget 2018-19 presented by the Finance Minister Arun Jaitely in Parliament on February 1. Major investments and allocations are in roads, railways and rural development including agriculture and rural economy. Urban infrastructure development has also received a boost with the allocation for Smart Cities mission.
A qualified and productive workforce in mining operations is of utmost importance. Pavan Kaushik elaborates on the efforts of Hindustan Zinc (HZL) and its Mining Academy in enhancing the skill levels of mining machine operators through its various hands-on training courses.
The government has estimated a total infrastructure spending of about 10 per cent of GDP during 2012-17, up from 7.6 per cent during the 2007-12 period.
The government has granted infrastructure status to logistics sector. The need forintegrated logistics sector development has been felt for quite some time in view of thefact that the logistics cost in India is very high compared to developed countries.
Building on a strong tradition of fuel efficiency and productivity, the Volvo EC210D crawler excavator is now available in Nepal. This machine is equipped with a range of features to ensure a superior performance, shift after shift.
The government's increased focus on port infrastructure and through budget and Sagar Mala programme has opened new growth avenues for port equipment industry and is looking forward to a brighter future in India.
From just an electrical channel partner, Vashi Electricals has grown to become a company of procurement specialists, helping customers from various verticals, including infrastructure equipment. Sanjeev Bhatia, Partner, elaborates more on the company and its vision for future.
World Steel Association states that the global steel demand did increase by 0.2 per cent to 1,501 mt in 2016 after a contraction of -3 per cent in 2015. In 2017, it expects global steel demand to grow by 0.5 per cent and reach 1,510 mt.
TCIEXPRESS is a specialist and leader in express distribution in India. PC Sharma, CEO and Whole Time Director, shares more on the company and the express logistics industry in India.
In a transport market which is witnessing an unimaginable number of companies entering the fleet tracking and management space, it takes a considerable amount of effort to come out on top. Set up in 2007, Novire Technologies has become a well-known brand in the fleet management sector.
The construction equipment segment in India has something to cheer about from the Budget measures such as more fund allocation to rural roads and highways construction, and announcement of infrastructure status to affordable housing.
Transportation of raw and processed materials to the desired location is the next but most essential activity arising out of earthmoving. In the infrastructure space, 5-35 tonne payload capacity tippers and dumpers are extensively utilised for this purpose.
There was a lot of anticipation and apprehension about Budget 2017. There was enough to satisfy those anticipating, and relief for those who were apprehensive. The big push to expenditure for farmers, rural sector, affordable housing and infrastructure will give a fillip to growth and employment.
True to its expectations, Budget 2017 has spelt out road maps and allocations across various initiatives of the Central Government and the Finance Minister has done an excellent job of managing the expectations. Initiatives to real estate industry has been spoken at length where the sentiments have been largely positive.
In India, the Bosch Group has its presence in the mining industry with Bosch Rexroth offering drive and control solutions and other divisions offering fuel injection systems. Bosch will tie up with local system integrators for retrofit projects to offer end-to-end solutions.
On a global level, we have come out with two product categories: drum cutters and grapples. We want to be careful with what we do in India because we have a long term vision for this market. Considering the GDP prospects, most players are entering India but it is a demanding market.
After a lull in the past three years, mining, especially coal, is set to show significant growth in the next few years. Coal India (CIL) is doing its best to increase coal production quickly, from the current 568 million tonne per annum (mtpa) to 927 mtpa by 2020.
In India, the Bosch Group has its presence in the mining industry with Bosch Rexroth offering drive and control solutions and other divisions offering fuel injection systems for mining equipment and security technologies. To gain deeper penetration, Bosch will be tying up with local system integrators for retrofit projects to offer end-to-end solutions.
Liquidity boost for construction sector will be the right trigger for equipment industry. Mahesh Singhi elaborates. The construction industry is crucial to the national GDP as it contributes 8 per cent and is the second largest earner of FDI
In light of the various infrastructure development initiatives by our government and expansion plans declared by various related agencies, the Bulk Material Handling Equipment (BMHE) sector
Brexit as an event will impact the future of the UK and EU. This victory for exit, however narrow, came as a surprise as pre-voting polls predicted the results to be otherwise. The next step is to ratify the Article 50 of the Lisbon Treaty. But before the treaty there are a lot of issues which need to be worked out.
Stepping closer to the concept of ?one nation, one tax?, Rajya Sabha passed the Goods & Services Tax (GST) Bill. The constitutional amendment will enable both the Centre and the states to simultaneously levy the GST, which will include all indirect taxes currently levied, including excise duties and service tax.
The National Capital Goods Policy 2016 has been the talking point for some time now. It is a policy that is not short on intent. It is conclusive but not entirely comprehensive. Some critical elements have been surprisingly left out.
The warehouse market in India is growing faster than the GDP. It will continue to grow at a CAGR of 12-13 per cent in the coming years and is largely dominated by unorganised sector (90 per cent).
Modern warehousing and inter modal logistics industry initiatives in India, have redefined how business is conducted in the country in most industry sectors as well as its geographic regions.
The Prime Minister has set the vision and the agenda, aimed at boosting the manufacturing sector and to jump-start the contribution of manufacturing to the GDP pie.
From a global perspective, the equipment rental industry in India is in its nascent stage. Currently, the average off take for rental is 7-8 per cent of the annual equipment production in India as against up to 80 per cent in developed countries like UK, South Korea and others.
Over 8,000 Indian industry leaders and 13 Union Ministers attended the event. Seventeen state exhibitions and several country pavilions have been built at the centre. The country pavilions include exhibitions from Sweden, Germany and South Korea.
The demand for crawler dozers is expected to be driven by the various government-sponsored infrastructure projects coming up in the country, and the new momentum in the mining industry.
According to 6Wresearch?s new report, India Construction Equipment Market (2016-22), India has become a key global market for construction equipment. The construction market contributes nearly 7 per cent to India?s GDP. Further, by 2025, India?s construction market is expected to emerge as the third largest in the world.
India has globally become one of the key potential markets for construction equipment (CE). Construction market contributed nearly 7 per cent to the India?s
IMF economists predict 7.9 per cent GDP growth for India in 2016, subject to continuity of investments in infrastructure and implementation of significant commercial reforms like GST
Positive sentiment prevails in the infrastructure equipment industry which is abuzz as Excon 2015 is around the corner. Growth prospects are visible over the horizon, in light of the positive trends reflected in most of the economy indicators for India.
Hydraulics Works of L&T Construction Equipment, a wholly owned subsidiary of Larsen & Toubro was established in 1982. We are in a position to deliver hydraulic solutions to meet the needs of construction and earthmoving equipment, mining machinery, industrial, energy sectors as well as bulk material handling segments.
As a prelude to Excon 2015, a road show was organised by Confederation of Indian Industry (CII) at Mumbai on October 8, 2015. In essence, this meet was organised by CII to showcase the exhibition and give an overview. The event was attended by all sections of the connected stakeholders.
Efficiency, safety and productivity are the three major factors that drive the demand for power tools infuture. Major players in the industry are engaged in the development and introduction of innovative products
Smart companies are deploying software to maximise returns on their investment in construction and mining equipment, finds Charu Bahri. A new wave of cost consciousness is picking up in the construction and mining sector.
Despite a prolonged dip in demand for the last three years the power sector, especially wind mills and renewed focus on infrastructure, and core sectors like cement and steel are expected to drive the demand for heavy duty cranes.
The promises of ?Acche Din?coupled with the the ?Big Bang? expectations from the FY16 Union Budget, are more to do with the government walking the talk and bringing in continuous reforms which positively impact the financial and economic landscape.
The Indian market is served for many years, not only because of the need of raw materials to foster the nation economic growth but also because India is the third largest producer of coal. Difficult regulatory framework and business environment slow the development of coal production.
India is on track to overtake the US as the second-largest coal consumer after China this decade. India wants to more than double coal output to 1.5 billion tonne by 2020. The central government has already taken specific actions including e-auctions of coal blocks; 28 blocks are already allocated and more blocks to be e-auctioned soon.
Infrastructure has received a booster shot of Rs 70,000 crore and another Rs 24,000 crore of increased outlays on roads and railways. This would take the existing spend on infrastructure for 2015-16 from Rs 2,10,000 to Rs 3,04,000 crore plus the funds created as an outcome of the seed money invested in National Investment & Infrastructure Fund which in turn will find its way into infrastructure funding companies like IRFC & NHB where they will evolve with a factor of ten.
The need for better infrastructure is pressing with India?s rapid urbanisation and burgeoning middle class. Some 590 million people will live in cities by 2030, and could account for 70 per cent of Indian GDP, according to a McKinsey report.
India is well endowed in terms of most minerals and the country?s mining sector has great potential. While demand for commodities has been strong, supply has been constrained. This has resulted in increased import.