Indian Construction Equipment Market Growth Drivers | Top Company Profiles | Regional Estimates | 2030

Indian Construction Equipment Market was valued at US$ 7.89 Bn. in 2023 and is estimated to reach a value of US$ 14.34 Bn. in 2030. The India Construction Equipment Market size is estimated to grow at a CAGR of 8.9% over the forecast period.

A global Material & Chemical business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the "Indian Construction Equipment Market." The report is a combination of primary data and secondary data and domain experts have analysed the Indian Construction Equipment Market from a local, regional and global point of view. Over the forecast period, Maximize Market Research expects the Indian Construction Equipment Market to grow from US$ 7.89 Bn in 2023 to US$ 14.34 Bn in 2030 at a CAGR of 8.9%

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Indian Construction Equipment Market Report Scope

Market Size in 2023: US$ 7.89 Bn
Market Size in 2030: US$ 14.34 Bn
CAGR: 8.9%
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 284
No. of Tables: 133
No. of Charts and Figures: 183

Segment Covered: By Type, End-User, Application.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market
Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends,
Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition
Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

Indian Construction Equipment Market Overview

The India Construction Equipment Market is witnessing substantial growth, driven by various economic activities and industrial advancements. The market's expansion is supported by increased sales, significant private sector investment, real estate growth, and government infrastructure projects. The industry's growth is also bolstered by rising exports of Indian construction equipment to global markets.

Indian Construction Equipment Market Dynamics

The market reported a 23% sales growth in Q3 2022-23, attributed to ongoing infrastructure development. Growth in the real estate sector and improved economic conditions are boosting demand for construction equipment. Expansion of infrastructure projects and public-private partnerships in India, the U.S., and China are key growth drivers. Demand is driven by the need for improved infrastructure in growing populations, particularly in Asia-Pacific regions. Programs by India Brand Equity Foundation (IBEF) and other government policies are promoting the "Made in India" label, boosting market share. Compliance with standards set by organizations like BIS and ARAI is crucial for manufacturers.

Indian Construction Equipment Market Regional analysis

Delhi, Haryana and Panjab states of Northern region conduct robust industrial and commercial activities, drives significant demand for construction equipment. The Western region, comprising Maharashtra and Gujarat, serves as a major economic and industrial hub. These states boast strong manufacturing sectors, particularly in petrochemicals and automobiles, which drive substantial demand for construction equipment. In the Southern region, states like Tamil Nadu and Karnataka are notable for their manufacturing hubs, including a significant presence in the automotive sector. This industrial concentration significantly influences the demand for construction equipment in the region. The Central region, with states such as Madhya Pradesh, experiences demand for construction equipment driven by agriculture, minerals production, and expanding industrial activities. These factors collectively boost the market in this part of India. Assam, representing the Northeastern region, relies primarily on the oil and gas industry and has limited industrialization. The demand for construction equipment here is primarily tied to these sectors. Coastal regions, including states like Kerala and Goa, see demand for construction equipment driven by marine activities and port operations. These activities necessitate specialized equipment, contributing to the regional market's growth.

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Indian Construction Equipment Market Segmentation

By Type:

• Earthmoving Equipment
• Material Handling Equipment
• Heavy Construction Vehicles

By End-User:

• Infrastructure
• Construction
• Mining
• Oil & Gas
• Manufacturing

By Application:

• Excavation & Demolition
• Heavy Lifting
• Tunneling
• Material Handling
• Recycling & Waste Management

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India Construction Equipment Market, Key Players:

1. Caterpillar
2. Komatsu
3. Volvo Construction Equipment
4. JCB
5. XCMG
6. SANY
7. Hyundai Construction Equipment
8. TATA
9. Hitachi
10. Liebherr

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Key questions answered in the Indian Construction Equipment Market are

• What is the growth rate of the Indian Construction Equipment Market?
• Which region is expected to dominate the Indian Construction Equipment Market?
• What is the expected Indian Construction Equipment Market size by 2030?
• Which are the top players in the Indian Construction Equipment Market?
• What are the factors driving the Indian Construction Equipment Market growth?
• Which country held the largest Indian Construction Equipment Market share in 2023?

Key offerings

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Recommendations

Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:

• Construction Equipment Market size was valued at USD 194.10 Bn. in 2023 and the total revenue is expected to grow by 4.48% from 2024 to 2030, reaching nearly 263.80 Bn.

• Global Construction Equipment Rental Market is expected to reach US$ 152.79 Bn. by 2030, at a CAGR of 4.2% throughout the forecast period.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2
Pune Bangalore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.