Construction equipment makers launching new items
Fuelled by the demand in the road infrastructure, mining and irrigation projects, construction equipment makers in India are operating at peak capacities, first time in several years.
Encouraged by a robust demand in an industry that is expected to expand at a compounded annual rate of 10 per cent till 2022, the manufacturers of such equipment plan to add new products to their line-up in a bid to make the most of an uptrend in the demand cycle. While most companies are expecting a good growth over the next three years, they cautioned, growth may slow down after the general elections.
The local arm of the Japanese manufacturer plans to increase its capacity to 12000 units per annum by year-end from the current 10,000 units per annum at its plants in Karnataka and West Bengal, said Sandeep Singh, managing director, Tata Hitachi.
To be sure, it has been an all-encompassing growth. Mahindra and Mahindra, a relatively new entrant into the sector too has seen a brisk volume growth and looking to add new products, said Manish Arora, business head at Mahindra Construction Equipment.