TechNavio recognizes the following companies as the key players in the Construction Equipment Market in India: BEML Ltd., J C Bamford India Ltd., Larsen & Toubro Ltd., and McNally Bharat Engineering Co. Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The Construction industry in India includes a large number of small construction companies, which prefer low-cost products from China. These Chinese products are priced competitively about 5-10 percent cheaper than the Indian construction equipment products. Chinese equipment manufacturers have a strong presence in some segments such as Wheel Loaders and Dozers, where they hold a market share of more than 10 percent. Therefore, due to the availability of low-cost products from Chinese vendors, the Construction Equipment market in India is witnessing an increase in imports of construction equipment from China.”
According to the report, one of the major growth drivers in the market is increasing investment in infrastructure development. The Government of India is increasing its investment in infrastructure development to provide better roads and bridges across the country; this has led to an increase in the demand for construction equipment in the country.
Further, the report states that one of the major challenges in the market is fluctuations in raw material prices. The prices of the major raw materials used for manufacturing construction equipment are volatile and tend to increase year-on-year, posing a negative impact on the profit margin of vendors.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Caterpillar Inc., Elecon Engineering Co. Ltd, Greaves Cotton Ltd., JCB India Ltd., and Terex Corp.
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/construction-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
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Construction Equipment Market in India 2012-2016
