The construction equipment sales in India is expected to grow 10 per cent this year, according to an Off-Highway Research report. Off-Highway Research expects sales to exceed 73,000 units this year, surpassing the previous record sales of 72,492 units seen in 2011. The market in the first half of the year was particularly strong ahead of the implementation of Goods and Services Tax (GST) on July 1.
Looking ahead, Off-Highway Research expects continued buoyancy in the market, although this will inevitably moderate in 2019 due to the general election. However, growth is expected to resume thereafter, with sales likely to exceed 90,000 units in 2021.
The report said, “Almost all types of equipment will witness growth, though the market will continue to be dominated by the six most popular products: backhoe loaders, crawler excavators, mobile cranes, mobile compressors, compaction equipment and wheeled loaders. Together these will account for 93 per cent of the market in 2021.”