THE GROWTH ENGINE IS HERE

bauma ConExpo India 2023 promises to catapult the construction equipment sector into the stratosphere if the government keeps its promises of a $5 trillion

- CW & MOLLY R

The Indian construction equipment industry registered a 14% quarter-on-quarter (QoQ) decline in sales in the first quarter of the cur-rent financial year (Q1 FY 2022-23), but things have changed gradually. Union Minister of Road Transport and Highways Nitin Gadkari had recently said in the Rajya Sabha that by 2024, road infrastructure in India will be similar to that of the United States. Nevertheless, the Indian construction equipment market size is projected to grow at a CAGR of 23.3% during 2021-27. The growth can be attributed to rising investment in the growing public and private infrastructure, FDI reforms for construction sector, and highway projects.

India’s growing economy has led to an overall surge in the construction equipment market of India. In addition, the government’s ambitious projects such as the Smart City, Bharatmala, Sagarmala, NIP, the Golden Corridor, Housing for All, Restructuring and Expansion of Railways, etc. will bolster growth of construction equipment during the forecast period.

The 6th international trade fair for construction machinery, building material machines, mining machines and construction vehicles, bauma ConExpo India 2023 will be held from January 31–February 3, 2023 at India Expo Centre, Greater Noida / Delhi NCR India.

Construction Week speaks to exhibitors to find out what’s in store for customers and visitors alike.

"OUR PATENTED TECHNOLOGY OF ISOTRACTION SURFACE ENHANCES TRACTION AND SAFETY FOR VEHICLES AND THE FOUR 3 CONNECTION REDUCES DRIFT & SLIPPAGE."

PRASANNA KUMAR

WHAT TO EXPECT