Indian, equipment--Indian equipment market hits record high

Off-Highway Research says equipment sales in India rose +42% in 2010 to a record 58715 machines. * - Forecast
The Indian construction equipment market hit a record high in 2010, according to preliminary figures from specialist forecaster, Off-Highway Research. The company estimates that sales hit 58715 machines, almost half of which were backhoe loaders.

This volume represents overall growth of +42% from 2009, when unit sales of construction equipment in India hit 41409 machines. As well as being the highest volume machine sold in India, backhoe loader sales enjoyed remarkable growth last year, with a +59% rise taking the number sold to an estimated 25000 machines in 2010.

However, strongest growth was seen in the low-volume skid steer loader segment, where sales rose +90% to 550 units in 2010. Other types of equipment, a category encompassing articulated dump trucks, mini excavators, wheeled excavators, crawler loaders and other low-volume products in India, grew +99% to 225 machines.

Back at the high-volume end of the market, and there was strong growth for excavator sales, with volumes rising an estimated +42% in 2010 to 11300 machines. Wheeled loader sales rose +31% to 2500 units, while the mobile crane market - composed mainly of pick & carry cranes - was up +36% to 9500 machines. There was also a +40% rise in mobile compressor sales, to 4200 units.

Samir Bansal, managing director of Off-Highway Research India said, "Our prediction is that the construction equipment market in India will more than double in the next few years, from 40909 units in 2009 to 86420 units in 2014, recording an overall growth of +112%. The demand is likely to rise across all product segments, representing an all-round growth in economic activity." (by Chris Sleight)

Source: Khl.com