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“Following years of anaemic long-steel product demand, ICRA expects this construction activity to revive demand strongly, lifting the fortunes of large and small manufacturers alike,” said the rating agency in a report on Tuesday.
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.
ICRA on Wednesday said the mining and construction equipment industry is likely to grow by 15-20 per cent in the calendar year 2021 but stressed that the economy, in the grip of a pandemic, could throw up sudden negative surprises. The first quarter of 2021 is estimated to have reported a strong equipment demand growth of 45-50 per cent, ICRA said in a statement. 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% in FY2022), it said.
Higher infra spend ups Construction Equipment volumes
By IANS |
Published on
Sat, Mar 6 2021 12:36 IST |
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Road construction.. Image Source: IANS News
New Delhi, March 6 : Heightened focus on infrastructure spend, particularly in the road infrastructure segment has led to a sharp scale up in Construction Equipment volumes since July 2020, said ratings agency ICRA.
Accordingly, the agency revised its outlook on the CE sector to Stable from Negative following a strong ramp up in volumes.
ICRA cited heightened focus on infrastructure spend, particularly in the road infrastructure segment has led to a sharp scale up in volumes since July 2020.
As per the agency, factors such as sharp increase in the awarding and execution pace of road construction; increased focus on rural infrastructure; strong rural volume off-take for equipment on the back of second consecutive good monsoon; improving demand from railway and mining segments and the regular pa