TechNavio recognizes the following companies as the key players in the Earth Moving Equipment Market in India: BEML Ltd., JCB India Ltd., L&T Construction Equipment Ltd., and Tata Hitachi Construction Machinery Company Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The construction companies in India prefer Chinese earth moving equipment when compared to the earth moving equipment manufactured in India. This is because the Chinese earth moving equipment is priced at least 5-10 percent lower than India’s equipment. China uses high technological advancements in the field of earth moving equipment when compared to India. Moreover, it has a strong global presence of around 14 percent in the Global Dozer and 13 percent in the Global Loader market. Thus, the availability of a large number of equipment from China at a lower cost has led to the increase in imports of the earth moving equipment from China.”
According to the report, one of the major growth drivers in the market is the increasing investment in infrastructure projects by the Government of India. During the 11th five-year plan (2007-2011), the investment on infrastructure projects accounted for US$ 436 billion. Moreover, the Planning Commission has estimated that a total investment of around US$1 trillion on infrastructure projects will be spent during the 12th five-year plan (2012-2017).
Further, the report states that one of the major challenges in the market is the delay by the government in approving the infrastructure projects. The delays are made in terms of land acquisition approval, process approval, financing, and environmental clearance which hampers the project’s commencement.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/earth-moving-equipment-market-india-2012…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Earth Moving Equipment Market in India 2012-2016
