The Indian construction equipment industry is expected to grow in double digits to reach a volume level of close to 3 lakh units by 2030, driven by infrastructure development across roads, railways ports and other areas, according to industry representatives.

After the impact of Covid, volumes in the construction equipment industry saw a revival and it crossed one lakh units and stood at about 107,000 units in 2022, up from about 80,000 in the previous year.

“We expect the industry to register strong growth in the coming years supported by massive infra-spend planned across categories. Overall, the next two decades will be a growth phase for the industry,” MD , Schwing Stetter India Pvt V G Sakthikumar told businessline while discussing CII’s EXCON event.

Sakthikumar, who is also a Member of the EXCON 2023 steering committee, said that with double-digit growth the Indian CE industry may surpass the US and become number 2 globally after China by 2030.

He said all categories of the industry such as concrete equipment, road construction equipment and material handling equipment would see growth. However, growth rates will vary depending on the business opportunities. Also, sustainability is a big focus area for the industry. For eg. recycling of waste pile caps is being taken instead of dumping them at some sites. There is an adoption of the concept of circular economy in construction to minimise the impact on the environment.

Key themes

EXCON 2023 is scheduled to take place from December 12 to 16, at the Bangalore International Centre (BIEC) and will focus on key themes such as alternative fuels, artificial intelligence (AI), sustainability and automation in the construction engineering sector.

The event will spread over 30 lakhs sq. ft. of display area and is expected to attract over 1200 exhibitors from India and overseas including countries like the USA, UK, France, Germany, Italy, UAE, South Korea, Singapore, Turkey, Sri Lanka, Romania and Czech Republic. The 5-day exhibition is expected to attract over 80,000 business visitors from all over the world.

The Indian Construction Equipment Manufacturers’ Association, Infrastructure Equipment Skill Council and the Builders Association of India are partners for the event.