An Optimistic outlook for the construction equipment sector in 2022
Equipment

An Optimistic outlook for the construction equipment sector in 2022

The outlook on India’s construction equipment sector is optimistic since the country’s needs for infrastructure will continue to grow massively.

“Our present infrastructure is already bursting at the seams, with GDP growth the pressure on critical infrastructure will only continue to grow,” observes Blesson Varghese, Managing Director, Asia Astec. “A clear vision, purpose-driven governance and policies built around growth would mean that the market in India would more than double in the next five years.”

“Recently, the Indian Construction Equipment Manufacturers Association said that India should become the second-largest market for construction equipment by 2030,” reports Deepak Shetty, CEO and MD, JCB India.

Rapid urbanisation and infrastructure activities will help spur the Indian construction equipment market beyond $4.7 billion by 2025, estimates Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support), Sany Heavy Industry India. “Higher budgetary allocations to roads, metro rails, flyovers and commercial complexes will further boost the market over the next few years. Major projects include the bullet train, metro rails in urban areas, Bharatmala and Sagarmala. Increased mining activity and foreign direct investment are also boosting demand.”

Click here to read more on ….

The outlook on India’s construction equipment sector is optimistic since the country’s needs for infrastructure will continue to grow massively. “Our present infrastructure is already bursting at the seams, with GDP growth the pressure on critical infrastructure will only continue to grow,” observes Blesson Varghese, Managing Director, Asia Astec. “A clear vision, purpose-driven governance and policies built around growth would mean that the market in India would more than double in the next five years.” “Recently, the Indian Construction Equipment Manufacturers Association said that India should become the second-largest market for construction equipment by 2030,” reports Deepak Shetty, CEO and MD, JCB India. Rapid urbanisation and infrastructure activities will help spur the Indian construction equipment market beyond $4.7 billion by 2025, estimates Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support), Sany Heavy Industry India. “Higher budgetary allocations to roads, metro rails, flyovers and commercial complexes will further boost the market over the next few years. Major projects include the bullet train, metro rails in urban areas, Bharatmala and Sagarmala. Increased mining activity and foreign direct investment are also boosting demand.”Click here to read more on ….

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000