Driven by growth in investment in the infrastructure sector, domestic construction equipment industry is likely to grow at 12 per cent increasing India´s global share to 10 per cent by 2017. According to a report by Roland Berger Strategy Consultants, India´s construction equipment market, though small by global standards, is extremely competitive and has players operating under different strategies.
Post 2014 general elections, there is an expected economic resurgence which will boost the urbanisation of India, as the government has granted new infrastructure projects and is allowing huge investments in infrastructure industry.
The residential construction industry is expected to grow from at CAGR of 10.8 per cent between 2006-11 to 15.3 per cent by 2017, the report said.
According to the survey, developing and developed world would grow 64 per cent and 86 per cent, respectively by 2050, and growth will be concentrated in India and Africa due to large percentage of youth.