Off-Highway Research has updated its study on the mini excavator industry in India.
In contrast to the more mature construction equipment markets of Western Europe, North America, Japan, and even China, where compact equipment accounts for a large proportion of machinery sales, demand for mini excavators in India has to date remained very small.
However, sales have grown over the last decade from 22 units in 2007 to 1,322 units sold in 2018, with the 1,000 machine mark being surpassed for this first time in 2017. There are more than ten suppliers of mini excavators in India, three of which also manufacture these machines domestically.
Off-Highway Research expects sales of mini excavators to continue growing in India for the foreseeable future. At present they only have niche appeal. However, the scope of usage is expanding and new applications are being established. Furthermore, with the increasing shortage of manual labour, dependency on machines will continue to rise which will help grow the mini excavator market in the future.
Off-Highway Research’s study on the Indian mini excavator segment forms part of the company’s Indian Service, and is now available to subscribers via the Internet Access Service. More information on the Indian Service is available here. The report is also available to buy as a stand-alone product. Click here for more details.