Although currently depressed by the economic impacts of the Covid-19 pandemic, sales of compaction equipment in India are forecast to grow at an impressive rate over the next three years. Off-Highway Research’s new equipment analysis report, Compaction Equipment India, says sales could reach a record level of 6,000 ride-on machines in 2023.
“The simple truth is that there is a massive amount of work yet to be done in the road sector, and this will call for large volumes of equipment to complete it. How large those volumes will be is totally dependent on the government’s effectiveness in facilitating project execution and addressing key impediments,” said the report.
In addition to its own reports on the equipment industry, Off-Highway Research also offers studies on various aspects of the country’s construction market, thanks to its partnership with India Infrastructure Research. One of the most popular titles, Road Development in India, offers more than 650 pages of analysis, highlighting the enormous opportunities in the sector.
India has the second largest road network of any country in the world, to which more than 20 km of national highways are being added every day. Planned investment in the sector is forecast to reach US$45 billion per year in the near-term. In addition to the huge opportunities for construction and construction services in India, there are also investment opportunities as the country further embraces the build-operate-transfer (BOT) model.
Off-Highway Research’s new equipment analysis on the compaction equipment industry in India is now available to download for subscribers to the Indian Service, who can login here. It can also be bought by non-subscribers – click here or more details.
It is believed to be the most detailed and in-depth report ever published on the subject, with analysis covering market size, market shares, production, foreign trade, market structure, distribution networks, equipment population, machines available and a five-year forecast.
The India Infrastructure study on road development in India is also available to buy from the Off-Highway Research Store. Click here for more details.