The latest RNCOS study titled ´Indian Construction Equipment Market Outlook 2018´ has projected that the Indian construction equipment (CE) market would grow at a cumulative annual growth rate (CAGR) of 19 per cent during 2013-2018. In India, there is a potential ground of opportunities for the construction sector. The country is in a crucial phase of development where numerous projects are running in different regions, propelling the demand for construction equipment. Analysing the developments taking place over the decade, RNCOS sees a significant advancement in the sector. On the supply front, the market has evolved on technology, product utility, variants and price fronts.
Almost all major construction equipment companies across the globe have established presence in India either as joint ventures with Indian companies or as independent entities. Similarly, on the demand front, the Indian consumer has realised the importance of value proposition rather than money, thereby shifting the demand curve towards value-driven products, more importantly quality services.