Excavator sales in India exceeded 25,000 machines last year for the first time. Although demand has dipped this year due to the disruption of the general election, the longer-term outlook remains extremely buoyant, with sales forecast to exceed 35,000 machines by 2023.
The market is being driven by sustained investment in infrastructure, and the re-election of Narendra Modi as Prime Minister is expected to see this spending continued. In addition, the maturing of the Indian construction market is seeing some contractors switch from backhoe loaders to crawler excavators as their machine of choice (although backhoe loaders remain hugely popular in India – click here for more details).
Demand is overwhelmingly for crawler, rather than wheeled excavators. Although the 20 tonne class remains by far the most popular, the segment is becoming more diverse, with other sizes gaining in popularity. This is one of the aspects of the industry which is discussed and analysed in detail in the report.
The study includes sections on total sales, including historic data and sales by size class, production, component sourcing, foreign trade, market shares, pricing, population & end-users, machines available, domestic manufacturers and the general economic background. Like all Off-Highway Research reports, it also includes a five-year sales forecast.
Off-Highway Research’s August 2019 Hydraulic Excavators India Equipment Analysis is now available to subscribers to the Indian Service. Click here to log in. The report can also be bought as a stand-alone publication by non-subscribers. Click here for more details or contact firstname.lastname@example.org to enquire about a subscription.