The equipment manufacturing sector for road and civil construction in India is going through a terrific growth because of the joint effect of various elements that are pushing the infrastructure development in the entire country. An unprecedented increase in the government's plans to expand connectivity, renovate old buildings, and build new ones has led to a spike in the demand for construction equipment. Government of India has allocated major chunk of investments toward infrastructure projects driving growth. These programs are designed to put an end to congestion, modernize ports, and boost logistics efficiency, which leads to a higher demand for equipment including excavators, loaders, graders and compactors. This is in addition to the fact that the high rate of urbanization of India which is driving the increase in construction works for the building of roads, bridges, tunnels and urban facilities.
Furthermore, the technological progression should be considered as a driver of the change of the construction equipment manufacturing market. Nowadays, construction firms are becoming more digital by including innovations like telematics, GPS tracking, automation, and electrification to improve the efficiency, safety, and sustainability of the whole construction process. These developments go beyond plain production rate improvement; they also help address environmental concerns which is consistent with the government’s focus on sustainable development. One of the most significant factors is Make in India that the government is promoting and the increasing demand for indigenous equipment manufacturers. The government is trying to support locally made products by giving incentives and benefits, so that countries can work towards reducing the import level and encouraging self-production in the manufacturing sector.
In this issue, we acquaint you with the top companies in this field. After studying the industry landscape in-depth, Industry Outlook has zeroed in on the top companies that have excelled with their meticulous approach. Having proven their dedication in order to meet the customer’s expectations in an end-to-end manner, these companies have stood out from the crowd.
We look forward to receiving your feedback and suggestions.
