Build India to drive mining, construction equipment demand in 2021, says ICRA
May 11, 2021
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Strong construction activity in ports, metros, and airports could aid demand though there might be delinquencies due to the pandemic
Following a 10-12 per cent contraction in CY2020, dragged down primarily by the 39 per cent decline in H1 CY2020, the mining and construction equipment (MCE) industry is poised to grow by 15-20 per cent in CY2021 (5-10 per cent in FY2022).
Continuing the 23 per cent recovery in demand in H2 CY2020, Q1 CY2021 is estimated to have reported a strong equipment demand growth of 45-50 per cent. However, an economy in the grip of a pandemic could throw up sudden negative surprises, as witnessed in April 21, when demand was relatively subdued.