India Crawler Excavator Market Size to Reach Volume of 34,366 Units by 2027 - Arizton

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Jul 06, 2021, 09:00 ET

CHICAGO, July 6, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this India crawler excavator market report.

The India crawler excavator market is expected to grow at a CAGR of over 5.41% during the period 2021−2027.

Key Highlights Offered in the Report:

According to the Indian government's projections, the nation would need USD 4.5 trillion in infrastructure spending by 2040. Government of India's ambitious project to hugely invest in infrastructure development, railways, roads and highways, rural electrification, water supply, and irrigation, airports, education, and health is expected to push the crawler excavator market.
After the service sector, construction is the second largest sector with foreign direct investment inflow. To increase the inflow of FDI into the construction sector, Government of India has eased foreign investment rules. This is likely to drive the growth of the earthmoving and construction equipment market.
Government of India has allocated INR 83,016 crore (USD 11,460 million) toward road transport and highways. In terms of construction permits, India has improved its position from 184 in 2014 to 27 in 2019. This improvement is mostly due to a reduction in the number of procedures and the time taken to secure construction licenses in India.
The government of India is making an investment of INR 6,000 crore (USD 816 million) in National Infrastructure Investment Fund (NIIF) for the next two years to support infrastructure growth in the country.

Key Offerings:

Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by products, end-users, format, distribution, and geography
Competitive Landscape – 10 key vendors and 6 other vendors

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India Crawler Excavator Market – Segmentation

India's mini crawler excavator market is expected to reach 1,650 units by 2027, growing at a CAGR of 3.37%. The demand for mini excavators has been modest. However, it is expected to gain popularity as they are feasible to transport due to their small size and light weight. They have a larger scope and can operate in small spaces.
Ongoing mining expansion, less production cost of steel and aluminum, and rise in oil demand is helping the mining industry in India. The country is planning to increase the capacity of steel production to 300 million tons by 2030-31 from 134.6 million tons in 2017-2018
India's <60hp crawler excavator category is largely used for utilitarian applications where labors are scarcely available. Thus, increasing shortage of labor will further propel the demand for these excavators.

India Crawler Excavator Market by Excavator Type and Operating Weight

((Mini (>6 tons)
Small (6-15 tons)
Medium (15-30 tons)
Large (above 30 tons))

India Crawler Excavator Market by Application

Construction
Mining
Agriculture
Forestry
Others

India Crawler Excavator Market by Gross Power Output

61-101 HP
102-200 HP
>201 HP

India Crawler Excavator Market – Dynamics

The Indian crawler excavator rental market is very small as compared to the other parts of the world. Valued at USD 76 million in 2020, it is expected to reach USD 165 million in 2027. The equipment rental market comprises around 7-8 organized players along with some OEMs and several small players from unorganized sectors. Dominance of unorganized players has resulted in non-standard rental rates, payments, and terms of the contract. Rental rates pre-covid witnessed a downward trend due to influx of equipment. Companies maintained their revenue levels through long-term deployment contracts, reduced operation cost, and improved up time of machinery. Global supply chain interruption due to COVID-19 and similar scenario consideration is bound to result in the burgeoning demand for rental equipment. Leasing or renting also helps in shielding market fluctuation.

Key Drivers and Trends fueling Market Growth:

Increasing government expenditure on construction projects
Increasing acceptance of India as a manufacturing hub
Focus on waste management providing huge returns
Growing demand for green buildings to trigger the need for fuel efficient, lower emission crawler excavators

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Major Vendors

Tata Hitachi Construction Machinery (THCM)
Bharat Earth Movers Limited (BEML)
Komatsu
JCB
Doosan Excavator
Caterpillar
SANY
Volvo Construction Equipment
Kobelco Construction Equipment India
Hyundai Construction Equipment

Other Prominent Vendors

LeeBoy
Sumitomo Construction Machinery
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Kubota Machinery
Ingersoll Rand
Liebherr Group

Explore our industrial machinery profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence