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2. Indian Annual Review now available

Historical trends suggest that the construction equipment market in India registers a new peak every 5-7 years. The market overcame the impact of Covid-19, registering a 12 per cent increase in sales growth in 2021, but grew by only 1 per cent in 2022. However, sales then surpassed 100,000 units for the first time in 2023, increasing by 26 per cent to reach 105,007 units, and then grew a further 9 per cent to peak at 114,330 units in 2024. However, sales then declined by 6 per cent to 106,933 units in 2025.

The scheduled implementation of new emission norms (CEV Stage-V) and safety standards from January 2025, and the resulting inventory build-up by manufacturers to avoid price increases, plus rising exports by non-OEMs, contributed to the sales growth in 2024, along with natural demand from the construction, mining and infrastructure sectors. The machines in stock were permitted to be sold until June 2025, while some customers also brought forward their purchases due to the change in emission regulations. This prebuying trend and market push by manufacturers in 2024 therefore led to the negative impact seen in 2025. 

Based on the current foreseeable factors, Off-Highway Research forecasts the Indian construction equipment market to grow by 5 per cent to 112,210 units in 2026, 4 per cent to 116,285 units in 2027 and a further 5 per cent to 122,610 units in 2028.  However, demand is predicted to decline by 6 per cent to 114,785 units in 2029. The market is forecast to expand by a robust 8 per cent to peak at 124,460 units in 2030. 

The Annual Review provides in-depth analysis and sales forecasts by equipment type, production, international perspective and projected forecasts up to 2030, and is essential reading for companies active in India, or those considering entering the market. The review is intended as a decision-making tool for manufacturers, distributors, rental companies, financial institutions, importers and all other stakeholders in the Indian construction equipment sector.

This review is now available to buy. Click here to purchase it from our store, or contact [email protected]