India s Construction Equipment Market: Projections to 2030 india-briefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india-briefing.com Daily Mail and Mail on Sunday newspapers.
With total equipment sales crossing 1,35,650 units as against 1,07,779 lakh units in FY23, the Indian Construction Equipment industry has recorded a 26 per cent increase in overall sales volume for the financial year 2023-24, surpassing all projections.
India s construction equipment industry saw a 26% increase in sales to 1,35,650 units in the 2023-24 fiscal, thanks to the government s infrastructure-led growth agenda. The Indian Construction Equipment Manufacturers Association (ICEMA) reported that the industry sold 1,07,779 units in the previous fiscal year. The government s infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments.
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ICEMA President V Vivekanand requested the government to ensure that the steady pace of execution of projects is maintained, which is critical for the consistent growth and development of the construction equipment industry. ICEMA is the nodal body representing the construction equipment industry in the country and is affiliated to Confederation of Indian Industry (CII).