Predicting equipment forecast, features and preference for the future
Equipment

Predicting equipment forecast, features and preference for the future

The year 2021 is expected to end with sales of 82,000 units of construction equipment, 11 per cent higher than the previous year, according to Off-Highway Research. This would boost sales past the pre-COVID level of 83,470 units.

Multiple factors favour the long-term growth of the market, but with the caveat that India would have overcome the pandemic by the beginning of 2022, explains Samir Bansal, General Manager, Off-Highway Research.

In 2022, Off-Highway Research expects construction equipment sales to grow 15 per cent to touch 94,100 units, still lower than the last decadal high of 98,386 units in 2018. That peak is forecast to be crossed in 2023, when 11 per cent growth will take the overall tally to 104,650 units. “Sales are predicted to fall 8 per cent to 96,650 units in 2024, an outcome of the general election, an event that usually tends to disrupt economic activity,” he adds. Sales should bounce back in 2025, when 11 per cent growth may push the volume to 107,450 units.

So, what types of equipment will witness growth?

Click here to read more...

The year 2021 is expected to end with sales of 82,000 units of construction equipment, 11 per cent higher than the previous year, according to Off-Highway Research. This would boost sales past the pre-COVID level of 83,470 units. Multiple factors favour the long-term growth of the market, but with the caveat that India would have overcome the pandemic by the beginning of 2022, explains Samir Bansal, General Manager, Off-Highway Research. In 2022, Off-Highway Research expects construction equipment sales to grow 15 per cent to touch 94,100 units, still lower than the last decadal high of 98,386 units in 2018. That peak is forecast to be crossed in 2023, when 11 per cent growth will take the overall tally to 104,650 units. “Sales are predicted to fall 8 per cent to 96,650 units in 2024, an outcome of the general election, an event that usually tends to disrupt economic activity,” he adds. Sales should bounce back in 2025, when 11 per cent growth may push the volume to 107,450 units. So, what types of equipment will witness growth?Click here to read more...

Next Story
Infrastructure Urban

Larsen & Toubro Secures Contract from Defence Ministry

The Ministry of Defence, Government of India, has awarded a significant contract to Larsen & Toubro (L&T) for supplying K9 Vajra-T Artillery Platforms to the Indian Army. As per the company's project classification, the contract is valued between Rs 50 billion and Rs 100 billion. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is an adaptation of the globally renowned South Korean K9 Thunder howitzer. It has been co-developed by L&T and Hanwha Aerospace to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and..

Next Story
Real Estate

Delhi-NCR Housing Market sees 25% Sales Growth

The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity. Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter..

Next Story
Infrastructure Urban

DDC Approves Five Key Projects Under Kasaragod Development Package

The District Development Committee (DDC) has approved a budget of Rs 100.08 million for five key projects under the Kasaragod Development Package. This funding is part of the Rs 700 million allocated in the State budget for the 2024-25 financial year, with administrative approval formally amended to incorporate these initiatives. The decision was made during a meeting chaired by District Collector K. Inbasekar on Saturday, December 21. The approved projects include Rs 40.99 million for constructing Udayapuram Thungal Road in Kottom Belur grama panchayat and Rs 20.56 million for setting up a ..

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