Prospects & Perceptions 2020

With mega infraconstructional projects being planned and pipelined opens new doors of growth opportunities for the construction equipment industry. EPC World takes a closer look on the market sentiments…

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The year 2019 saw its fair share of ups and downs – be it the union elections or the natural calamities that hit hard the infrastructure sector. The construction equipment sector was one such industry affected by the slowdown in the infrastructure sector. However with the situations becoming more stable prospective expectations are being eyed from the year 2020. A major reason fuelling this optimism is the infrastructure-focused growth agenda put forth by the Government and the prestigious list of big-ticket face-lifting projects being pipelined.

“The Construction Equipment industry can hope to expect a 40 per cent increase in sales in the near future, as the Government is pumping huge amounts of investment in road and other infrastructure projects such as the development of waterways, airports, ports, and smart cities. But the private sector should focus on bringing down the cost of construction and pollution,” said Shri. Nitin Jairam Gadkari, Minister for Road Transport and Highways, and Micro, Small and Medium Enterprises, Government of India. While addressing at the CII’s EXCON 2019, he further added, “The Prime Minister’s vision is to make India a USD 5 trillion economy. To achieve this goal, the government is embarking on major infrastructure and industrial projects worth ₹ 100 lakh crore. For the road sector alone, the Centre is investing ₹ 2 lakh crore this year. The amount of investment for the next year will increase to ₹ 3 lakh crore. Within the next five years, the total government spend on the road infrastructure will be about ₹ 17 lakh crore.”