‘Construction equipment biz now on revival mode'
Steel Insights|September 2020
Alike all other sectors, lockdown amid the pandemic has hit construction and engineering (CE) sector with shortage of labour, projects put on temporary halt and crunch in liquidity. However, with rural construction programs to engage migrant workers in their villages, removal of land acquisition hurdles, target to build 12,000 km of highways by FY21 and the Centre allowing construction activities and post-lockdown announcement for more projects, it seems the revival of the CE sector is now a reality, Puneet Vidyarthi, Brand Leader, CASE India tells Ritwik Sinha.
Ritwik Sinha
‘Construction equipment biz now on revival mode'

What is the present size and growth rate of construction and engineering equipment market in India?

The construction equipment market in India has grown considerably in the last few years and continues to do so. The Indian construction equipment market is projected to cross $4.7 billion by 2025, on account of anticipated growth in the construction industry, increasing foreign investments, and rising number of smart city projects in the country.

A report suggests that creation of new and upgrading of existing infrastructure projects with ₹111 trillion of investment will be key to raising India’s competitiveness and making it a ₹5-trillion economy by 2025.

The government, post lockdown, has announced more projects and initiatives to alleviate the delay in the commencement of road projects. All these factors will contribute to the growth of the market in the near future.

With the government focusing the vision of ‘Atmanirbhar Bharat’ how do you think it would catapult growth for construction and engineering equipment market?

This story is from the September 2020 edition of Steel Insights.

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This story is from the September 2020 edition of Steel Insights.

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