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2. Covid impact limited to 12 per cent fall in India

2020 was the second year in a row of falling construction equipment sales in India. The market was disrupted in 2019 by the general election in May and the recovery from that hiatus was derailed by the Covid pandemic, which struck in March last year.

However, the impact of Covid and the national lockdown was not as severe as had been feared at the start. Construction equipment sales fell just 12 per cent in 2020 to 84850 units. This figure comprises, earthmoving, compact and roadbuilding machines as well as mobile cranes.

Off-Highway Research forecasts that the Indian market will return to growth this year, with sales rebounding to the levels seen in 2019. Continued infrastructure investment is expected to see demand reach a record level in 2023, before the inevitable disruption of the general election scheduled for 2024.

Full details of last year’s boom, split across the 14 construction equipment types covered by Off-Highway Research, are available in the newly updated Indian Database Service. This includes details of sales and production of each equipment type by OEM and by year. Commentary on the data will be available through the Indian Annual Review, which will be published in April, and which will be available to subscribers to both the Indian Service and Indian Database Service.

Subscribers to the Indian Database Service can login here. Non-subscribers can contact [email protected] for more details about our reports and subscription packages.

The Indian market will also be discussed in the forthcoming Off-Highway Global Briefing webinar on 30th March. Click here for more details and to book your place.