Construction Equipment Market to Grow by 20%

NOIDA: With several global original equipment manufacturers (OEMs) foraying into Indian construction space through joint ventures, the Indian construction equipment market is expected to witness a Compound Annual Growth Rate (CAGR) of 20% year-on-year during 2011-2015.

RNCOS, a market research consulting Services Company, in its latest research report “Booming Construction Equipment Market in India” said due to the impact of joint ventures and collaborations by global construction equipment manufacturers in India, the industry is poised for big growth in the years to come. “The industry is expected to witness a CAGR of 20% during FY 2011-2015,” said the report.

The construction equipment industry in India witnessed a consistent growth in the past few years despite the global economic crisis. Supported by the government's favorable policies, the infrastructure and construction projects in the country are increasing, the study noted.

The report, spread over 45 pages, provides a comprehensive research and rational analysis of the current status and expected position of the construction equipment market in India. It meticulously examines the prominent emerging trends and drivers, which are fueling growth in the industry. Highlighting major segments, such as earth moving, and material handling, the report also facilitates the future outlook for rental and equipment financing in India.

Some of the key findings of the report are: India’s earth moving sector to register an impressive growth over the next few years; Construction equipment rental business in India is all set to enter a crucial growth phase; Market for after sale services to capture the untapped space in India and Construction equipment financing market has huge potential.

About RNCOS

RNCOS specialises in Industry intelligence and creative solutions for contemporary business segments. ur professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.