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Time of India
02-06-2025
- Business
- Time of India
Surge in Construction Equipment Demand Anticipated Amid Infrastructure Push and Rainfall Predictions, ET Infra
Advt Advt Industry stakeholders expect a rise in demand for construction equipment this year largely driven by 'above normal' rainfall outlook and government's focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said."The India Meteorological Department (IMD) has predicted 'above normal' rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited," Shetty the government focusing on infrastructure, he said, "I am sure that this year the growth will be in double-digit."In an interaction with PTI, Shetty who is also the CEO & Managing Director of JCB India , a leading manufacturer and supplier of heavy construction equipment in India, said that in the last few years, the Indian construction equipment industry has witnessed a growth of 26 per noted that FY25 has been a year of strategic repositioning for the domestic construction equipment industry due to a variety of growth could certainly have been higher as was anticipated earlier during the year, but as an industry, "we continue to be hopeful of a strong future in the longer-term."As a nation, India has moved up the rankings of being the fourth largest economy in the world, and it is only natural to continue the focus on infrastructure development going ahead, he Indian construction equipment industry has demonstrated commendable resilience in 2024-25 registering a modest three per cent growth and achieving a new milestone of 1,40,000 units sold, V Vivekanand, President, ICEMA who is also Managing Director of Caterpillar India Pvt Ltd , said in a recent asked to comment on the performance of JCB India, he said that last year was a record year for the company. The company is exporting its machines to around 130 countries across the world. Last year the company exported more than 10,000 machines to Shekhar who is Convener, ICEMA Industry Analysis and Insights Panel said that the industry experienced an almost flat growth, aligning with expectations due to general elections and the implementation of new emission India Ltd is a leading manufacturer of earthmoving and construction equipment in India. The company started as a joint venture in 1979 and is now a fully-owned subsidiary of J C Bamford Excavators, United five factories in India, JCB manufactures a wide range of world-class equipment in India for the domestic market as well as for exports to more than 125 countries.
Time of India
02-06-2025
- Business
- Time of India
Demand for construction equipment to pick up this year: ICEMA
Industry stakeholders expect a rise in demand for construction equipment this year largely driven by 'above normal' rainfall outlook and government's focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said. "The India Meteorological Department (IMD) has predicted 'above normal' rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited," Shetty said. With the government focusing on infrastructure, he said, "I am sure that this year the growth will be in double-digit." In an interaction with PTI, Shetty who is also the CEO & Managing Director of JCB India , a leading manufacturer and supplier of heavy construction equipment in India, said that in the last few years, the Indian construction equipment industry has witnessed a growth of 26 per cent. Shetty noted that FY25 has been a year of strategic repositioning for the domestic construction equipment industry due to a variety of reasons. The growth could certainly have been higher as was anticipated earlier during the year, but as an industry, "we continue to be hopeful of a strong future in the longer-term." As a nation, India has moved up the rankings of being the fourth largest economy in the world, and it is only natural to continue the focus on infrastructure development going ahead, he said. The Indian construction equipment industry has demonstrated commendable resilience in 2024-25 registering a modest three per cent growth and achieving a new milestone of 1,40,000 units sold, V Vivekanand, President, ICEMA who is also Managing Director of Caterpillar India Pvt Ltd , said in a recent report. When asked to comment on the performance of JCB India, he said that last year was a record year for the company. The company is exporting its machines to around 130 countries across the world. Last year the company exported more than 10,000 machines to America. Jaideep Shekhar who is Convener, ICEMA Industry Analysis and Insights Panel said that the industry experienced an almost flat growth, aligning with expectations due to general elections and the implementation of new emission norms. JCB India Ltd is a leading manufacturer of earthmoving and construction equipment in India. The company started as a joint venture in 1979 and is now a fully-owned subsidiary of J C Bamford Excavators, United Kingdom. With five factories in India, JCB manufactures a wide range of world-class equipment in India for the domestic market as well as for exports to more than 125 countries. PTI
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Business Standard
01-06-2025
- Business
- Business Standard
Rainfall outlook, infra push to lift construction equipment demand: ICEMA
Industry stakeholders expect a rise in demand for construction equipment this year largely driven by 'above normal' rainfall outlook and government's focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said. "The India Meteorological Department (IMD) has predicted 'above normal' rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited," Shetty said. With the government focusing on infrastructure, he said, "I am sure that this year the growth will be in double-digit." In an interaction with PTI, Shetty who is also the CEO & Managing Director of JCB India, a leading manufacturer and supplier of heavy construction equipment in India, said that in the last few years, the Indian construction equipment industry has witnessed a growth of 26 per cent. Shetty noted that FY25 has been a year of strategic repositioning for the domestic construction equipment industry due to a variety of reasons. The growth could certainly have been higher as was anticipated earlier during the year, but as an industry, "we continue to be hopeful of a strong future in the longer-term." As a nation, India has moved up the rankings of being the fourth largest economy in the world, and it is only natural to continue the focus on infrastructure development going ahead, he said. The Indian construction equipment industry has demonstrated commendable resilience in 2024-25 registering a modest three per cent growth and achieving a new milestone of 1,40,000 units sold, V Vivekanand, President, ICEMA who is also Managing Director of Caterpillar India Pvt Ltd, said in a recent report. When asked to comment on the performance of JCB India, he said that last year was a record year for the company. The company is exporting its machines to around 130 countries across the world. Last year the company exported more than 10,000 machines to America. Jaideep Shekhar who is Convener, ICEMA Industry Analysis and Insights Panel said that the industry experienced an almost flat growth, aligning with expectations due to general elections and the implementation of new emission norms. JCB India Ltd is a leading manufacturer of earthmoving and construction equipment in India. The company started as a joint venture in 1979 and is now a fully-owned subsidiary of J C Bamford Excavators, United Kingdom. With five factories in India, JCB manufactures a wide range of world-class equipment in India for the domestic market as well as for exports to more than 125 countries. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
01-06-2025
- Business
- Time of India
‘Above normal' rainfall, govt's infra push to drive double-digit growth in construction equipment demand: ICEMA
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Industry stakeholders expect a rise in demand for construction equipment this year largely driven by 'above normal' rainfall outlook and government's focus on infrastructure, industry body ICEMA President designate Deepak Shetty has said."The India Meteorological Department (IMD) has predicted 'above normal' rainfall in the country and I am very happy that due to this the rural market will be benefited. As most of our machines operate in the rural area, I am hopeful that we will be benefited," Shetty the government focusing on infrastructure, he said, "I am sure that this year the growth will be in double-digit."In an interaction with PTI, Shetty who is also the CEO & Managing Director of JCB India , a leading manufacturer and supplier of heavy construction equipment in India, said that in the last few years, the Indian construction equipment industry has witnessed a growth of 26 per noted that FY25 has been a year of strategic repositioning for the domestic construction equipment industry due to a variety of growth could certainly have been higher as was anticipated earlier during the year, but as an industry, "we continue to be hopeful of a strong future in the longer-term."As a nation, India has moved up the rankings of being the fourth largest economy in the world, and it is only natural to continue the focus on infrastructure development going ahead, he Indian construction equipment industry has demonstrated commendable resilience in 2024-25 registering a modest three per cent growth and achieving a new milestone of 1,40,000 units sold, V Vivekanand, President, ICEMA who is also Managing Director of Caterpillar India Pvt Ltd , said in a recent asked to comment on the performance of JCB India, he said that last year was a record year for the company. The company is exporting its machines to around 130 countries across the world. Last year the company exported more than 10,000 machines to Shekhar who is Convener, ICEMA Industry Analysis and Insights Panel said that the industry experienced an almost flat growth, aligning with expectations due to general elections and the implementation of new emission India Ltd is a leading manufacturer of earthmoving and construction equipment in India. The company started as a joint venture in 1979 and is now a fully-owned subsidiary of J C Bamford Excavators, United five factories in India, JCB manufactures a wide range of world-class equipment in India for the domestic market as well as for exports to more than 125 countries.
Time of India
29-05-2025
- Business
- Time of India
Indian construction equipment industry achieves marginal 3% growth in FY25: Report
NEW DELHI: The Indian construction equipment (CE) industry has achieved a marginal three per cent year-on-year growth in FY25, with total equipment sales reaching 1,40,191 units compared to 1,35,650 units in FY24, according to a recent report by the Indian Construction Equipment Manufacturers' Association (ICEMA). The CE industry had seen a growth of 26 per cent year-on-year in FY24. During the current fiscal, while the domestic market growth remained subdued at 2.7%, the industry's overall performance was better due to a 10% surge observed in the exports. "2024 being an election year was one of the major reasons behind the overall drop in growth. This led to pause and delay in approvals of tenders and new investment being implemented on ground. Maharashtra election also impacted the demand for CE industry," said V. Vivekanand, president, ICEMA and managing director, Caterpillar India . Another reason is the construction equipment vehicle (CEV) stage V emission norms, which became effective on January 1, 2025. The norms are mandated by the Ministry of Road Transport and Highways (India) and apply to all wheeled construction equipment machines with diesel engines, such as backhoe loaders, telehandlers, loaders, and compactors. "Adapting to these norms also led to a slowdown in Q4 FY25," said Vivekanand. Tightning of financing environment and difficulties in sourcing of components from countries like China and South Korea have also impacted the overall industry in FY25. Deepak Shetty, president designate, ICEMA and CEO & managing director, JCB India said, "The growth could certainly have been higher as was anticipated earlier during the year, but as an industry, we continue to be hopeful of a strong future in the longer term. Elections, rising input costs and emission standards have affected the growth momentum adversely this year." Vivekanand however argues that the industry has been on a sustained double digit growth for a long period of time, and it's not fair to expect the same momentum to continue forever, while we aspire that same to continue all the time. So if you are to really look at it, we are not really looking at a dip and there is always a high baseline effect. However on the bright side, India has become the third largest CE industry in the world. The exports which have been marginal in the past are now seeing growth ICEMA claiming that most of the exports are now happening in the developed countries. In the next ten years, ICEMA however expects 3x growth in the domestic industry moving from $10 billion in 2025 to $30-35 billion by 2035, while the exports are expected to grow from the current $1 billion to $5-6 billion during the same period. It was $3billion industry in 2015. Segment-wise performance: Earthmoving Equipment segment continued to dominate with 71% market share, recording 99,159 units sold (6% growth). Backhoe Loaders led the segment with 53,133 units (54% share), followed by Crawler Excavators at 35,816 units (36% share). Material Handling Equipment segment saw a de-growth of nine per cent in FY25 with 17,050 units, while Concrete Equipment contributed 14,473 units with a 3% growth. Material Processing Equipment recorded 2,507 units and witnessed a de-growth of four per cent. CE industry's transition towards alternate fuels is still at a nascent stage and ICEMA believes the push can come from either the regulatory front or if the machines become cost-efficient. The industry is however trying to innovate and makes machines more fuel efficient. Demand from government ICEMA wants state governments to invest more in infrastructure development especially in rural areas. They are also demanding a PLI scheme for the construction equipment sector. "We do have a significant amount of opportunity, one, to build that capacity and capability for catering to the domestic need, and also actually position ourselves to a global export hub. And so we need to attract lot of investments on the component sector and also the equipment capacity," said Vivekanand.
