Construction equipment export witnesses 60% growth in FY22
Equipment

Construction equipment export witnesses 60% growth in FY22

According to the Indian Construction Equipment Manufacturers Association (ICEMA), the export of construction equipment has increased by 60% in FY22, with earth-moving equipment witnessing 69% growth in the last fiscal year.

President of ICEMA and Managing Director of Volvo CE India, Dimitrov Krishnan, said that with the new CEV-IV emission standards, there are significant opportunities for Indian CE manufacturers. Its total exports stood at 7,802 units in FY22 from 4,862 units in FY21.

However, in the domestic market, its sales dropped, resulting in year-on-year volume degrowth of 8% in FY22. The earth-moving equipment sector witnessed a 14% drop, and road construction equipment had witnessed a 10% drop.

Overall, 85,385 construction equipment units were sold in FY22, compared to 92,470 units in FY21. Its domestic sales stood at 77,583 units, down from 87,608 units the previous year.

According to the report, the material handling, concrete and material processing equipment sector witnessed a positive growth record in FY22.

The sales in the CE industry during the fourth quarter (Q4) of FY22 were lower by 24%, compared to the same quarter the previous year. CE sales increased quarterly, with Q4 sales higher by 19% over the third quarter (Q3) in FY22.

Industry analyst in ICEMA and Managing Director of Schwing Stetter India, V G Sakthikumar, said that in the first three-quarters of FY22, sales volumes remained flat, with only about 2.5% growth, as compared to FY21.

He added that road construction witnessed slow progress, lower budget allocation for airport development, and inadequate utilisation of funds for real estate and infrastructure, resulting in lower equipment sales. High-speed metro trains and metro rail construction gained momentum for material handling, concreting and material processing segments.

Image Source

Also read: Voltas to support Jacon Equipment's product line in India

According to the Indian Construction Equipment Manufacturers Association (ICEMA), the export of construction equipment has increased by 60% in FY22, with earth-moving equipment witnessing 69% growth in the last fiscal year. President of ICEMA and Managing Director of Volvo CE India, Dimitrov Krishnan, said that with the new CEV-IV emission standards, there are significant opportunities for Indian CE manufacturers. Its total exports stood at 7,802 units in FY22 from 4,862 units in FY21. However, in the domestic market, its sales dropped, resulting in year-on-year volume degrowth of 8% in FY22. The earth-moving equipment sector witnessed a 14% drop, and road construction equipment had witnessed a 10% drop. Overall, 85,385 construction equipment units were sold in FY22, compared to 92,470 units in FY21. Its domestic sales stood at 77,583 units, down from 87,608 units the previous year. According to the report, the material handling, concrete and material processing equipment sector witnessed a positive growth record in FY22. The sales in the CE industry during the fourth quarter (Q4) of FY22 were lower by 24%, compared to the same quarter the previous year. CE sales increased quarterly, with Q4 sales higher by 19% over the third quarter (Q3) in FY22. Industry analyst in ICEMA and Managing Director of Schwing Stetter India, V G Sakthikumar, said that in the first three-quarters of FY22, sales volumes remained flat, with only about 2.5% growth, as compared to FY21. He added that road construction witnessed slow progress, lower budget allocation for airport development, and inadequate utilisation of funds for real estate and infrastructure, resulting in lower equipment sales. High-speed metro trains and metro rail construction gained momentum for material handling, concreting and material processing segments. Image Source Also read: Voltas to support Jacon Equipment's product line in India

Next Story
Infrastructure Energy

Samridh, CEID Launch High-Capacity Biogas Plant in Moradabad

Samridh Bioenergy has broken ground on a 12 TPD compressed biogas (CBG) plant in Moradabad, Uttar Pradesh, under the MNRE’s National Bioenergy Programme. Spread across 12 acres, the plant will process 270 tonne of organic waste daily and generate 30,000 cubic metre of biogas per day.CEID Consultants and Engineering Pvt Ltd has been appointed as the EPC contractor, responsible for the complete design, procurement, and construction of the plant. Equipped with four multi-feed digesters, the facility will accept a mix of press mud, cow dung, chicken litter, and vegetable waste, supporting contin..

Next Story
Real Estate

Delhi Micro-Markets Drive Up Housing Prices: Grihum Study

A new study by Grihum Housing Finance reveals that the rise of micro-markets across Delhi-NCR is fuelling real estate price appreciation, especially in the affordable housing segment. Key drivers include renewed post-pandemic interest, migration trends, and government schemes like PMAY.According to the study, over the past two decades, floor rates have risen 267 per cent, from Rs 1,500 per sq ft in 2005 to Rs 5,500 in 2024. In the same period, land rates surged 492 per cent, from Rs 1,300 to Rs 7,700 per sq ft. The sharp increase highlights strong capital appreciation in Delhi’s emerging loc..

Next Story
Resources

Covestro Develops PCR Polycarbonates from End-of-Life Headlamps

Materials manufacturer Covestro has launched post-consumer recycled (PCR) polycarbonates made from end-of-life automotive headlamps, in a move aimed at strengthening circularity in the auto industry. These TÜV Rheinland-certified grades, containing 50 per cent recycled content, are now commercially available for new automotive applications.Developed under a joint programme led by GIZ, with Volkswagen and NIO as key partners, the recycled material is currently being validated for use in future vehicle models.""This new line of polycarbonate represents a significant step in supporting the autom..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?