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.
Simem has been designing and manufacturing machinery and plants for the construction industry for over 50 years. The company now offers a wide range of products specifically designed for the production of concrete.
Customers in the construction sector are in search of higher-capacity trucks. The truck industry catering to mining and construction segment is in a transition mode as segmental shifts are taking place in terms of GVW, vehicle power, and performance Haulage trucks are being used for the transportation of aggregates, which is a new phenomenon.
We showcased part of our range of equipment - right from the smaller ones to the vertical machines that work in tight and narrow spaces. We also displayed the traditional range of AWP?s that are used by rental companies, contractors and end-users. We have showcased a 16-m articulated boom, which has been one of our bestseller in India.
Excon 2015, in CASH domain, witnessed a plethora of equipment aggregates, sub- assemblies, components and IT solutions for OEMs in their equipment, as original suppliers and in the aftermarket space, descending on the scene of action.
According to a report released by ICEMA, the current market size of the construction equipment including backhoe loader, concrete mixers excavator is around $2.8 billion. Further, the Indian construction equipment industry