The construction machinery sector is a key player in infrastructure projects, with significant growth anticipated in the Indian market. Construction machinery is crucial in infrastructure projects, with the Indian market at $5.2 billion in FY22 and expected to grow at a robust 8.9 percent CAGR, reaching $8.7 billion by 2028. Sales are projected to increase to 165,097 units by 2028. The earthmoving sector saw 85,385 units sold in FY2022, reflecting growing demand in tandem with infrastructure development.
Evolution of construction machinery
The development of construction machinery in India has closely mirrored the nation’s changing construction landscape, adapting to the needs of a growing, modernising industry. Starting from manual labour and basic tools like spades, India’s construction machinery evolved through steam-powered engines, advanced materials, computerised systems and automation, greatly enhancing efficiency and precision. Factors such as urbanisation, population growth, government policies and a focus on sustainability have driven this evolution, positioning India as a significant player in the global construction machinery sector.
Trends in Construction Machinery
The Construction Machinery Industry in India has experienced significant growth, driven by both globalisation and the nation’s pursuit of progress. Throughout the years, a range of notable trends has emerged, reshaping the industry’s landscape:
• Automation: One of the prominent trends in construction machinery is automation. Automated machinery and equipment are gaining traction due to their potential to enhance efficiency, safety and precision on construction sites, eg, autonomous construction vehicles developed to perform tasks such as excavation, grading and material transport.
This story is from the Efficient Manufacturing - Mar 2024 Issue edition of EM - Efficient Manufacturing.
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This story is from the Efficient Manufacturing - Mar 2024 Issue edition of EM - Efficient Manufacturing.
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