The verdict is out! GDP growth at 7.7 per cent is the highest in nine quarters. Construction growth at 11.5 per cent, manufacturing at 9 per cent apart from agriculture have been positive contributors. Together with a normal monsoon, the economy could be back on track in full throttle.
As the second largest used construction equipment in India, excavators play a crucial role in the infrastructure development of the country. The growing construction and infrastructure development activities have pushed the demand for excavators. In order to meet the project execution timelines and quality parameters, excavator OEMs are adding new features and technologies to their machines. Digital and IoT-enabled features are being introduced in these machines to effectively manage and monitor the machine operations, which in turn improves efficiency and productivity of the machine. However, a knowledgeable operator is important to operate such advanced machines for the optimum utilisation of these features. Skill development of machine operators play a crucial role in this. Rentals also play a major role in the growth of excavator market. Read the Cover Story for more details on these aspects.
Warehousing and logistics sector is on a turnaround mode, and with GST and e-commerce, the wheels of logistics are accelerating. Expansion of warehousing facilities, use of innovative methods in storage and retrieval of goods, and the use of new advanced machinery in handling the goods have created a new momentum in the sector. Government's policy initiatives have also supported greatly for the development of warehousing segment. GST has created a uniform tax structure across the country, removing the hassles of multiple tax system. Government's recent decision to provide infrastructure status to logistics has given an opportunity to warehousing and logistics players. They can now avail finance at competitive rates to set up warehousing facilities and acquire capital goods. All these have opened up a new avenue of growth for warehousing equipment sector. Read the Feature to understand the current market scenario in warehousing equipment.
Foundation equipment are once again standing tall and working at many project sites in the country, bringing back the growth momentum after a few years. Various projects including metro, railway, bridges, high-rise buildings, sea links and marine have been using piling rigs, vibratory hammers and other foundation equipment in large numbers. However, the demand always depends on the government policy initiatives. The market is expected to see the growth momentum at least for the next couple of years. The Focus explains more on the growth opportunities and scenario of foundation equipment segment. The Special Focus on Hydraulic Motors brings in the new features and technologies involved in hydraulic motors to meet the productivity and efficiency requirements in machines. There are more interesting columns to read and understand the overall industry scenario.