What’s driving the demand?
Increasing demand for novel construction equipment is expected to drive the global undercarriage components market in the upcoming years.
The construction industry across the globe is anticipated to present significant opportunities for construction equipment.
OTR tyre market has bright prospect
India OTR tyre market stood at 11.2 million units in 2021 and forecasted to reach 15 million units by 2023. The market is likely to grow at a CAGR of 9.05 per cent in volume terms.
New Avenues to Growth
The ongoing COVID-19 pandemic has hit market players adversely on the supply side, causing declining sales of undercarriage components.
The construction equipment market in India has become a front-runner in the global market space in the past few years.
Undercarriages and parts in crawler- or track-mounted equipment play important role in the mobility of the whole equipment and its uptime. Undercarriage parts are small and simple, but when all put together, support the entire track system.
Lubricants market in India is getting more lucrative
The expected robust demand for construction equipment and machinery is going to generate a concomitant demand for industrial and construction machinery lubricants in India. Akhil Jha, Chief Technology Officer, Shell Lubricants India, explains more on the new trends and product innovations in lubricants.
On Growth Path
The Indian auto components industry is one of the fastest growing industries. Coupled with growing demand and technological advancements, the auto components industry in India has emerged as a key market in Asia as well as the world.
Minebea joins hands with Paradox Engineering
Minebea Co has joined Paradox Engineering SA as shareholder and major strategic partner, entering the Board of Direction effective 9 January 2014. The Japanese corporation Minebea, leading producer of high-precision machinery components and electronic devices.
India is a key growth market for Valmova.
At Danfoss, we have the top technology for valves. With this bottomline, the business unit named Valmova which is fully owned by Danfoss, intends to promote technology at more affordable prices and that is why Valmova is specialised in the emerging markets, says Sanjay Bakle, General Manager, Danfoss India. Excerpts from the interview.
We believe in keeping ahead in all endeavours, including competition.
The competition is growing across the world. Even from India the other tyre companies are following BKT's activities very closely," says Arvind Poddar, Chairman & Managing Director, BKT. Excerpts from the interview.