“In value terms, the construction equipment market is dominated by backhoe loaders accounting for over 1/3rd of market share”, RNCOS Study.
Noida, UP -- (SBWIRE) -- 10/07/2014 -- The Indian construction industry is estimated to touch the mark of INR 56 Trillion by the end of 2018, registering a CAGR of nearly 14%. Backhoe loaders continue to top the sales chart with over 1/3rd of share. Backhoe loaders are the highest selling construction equipments in India for over three decades. It is used for multiple construction tasks like demolition, small excavation, loading and unloading of construction materials etc.
The multiple applications of the equipment along with its comparatively low price vis-a-vis specialized equipments have helped maintain the dominance of backhoes over other products such as wheel loaders and excavators. Usually, backhoe loaders of 7 Tons capacity are the most frequently sold. Key players dealing in backhoe loaders are JCB, CNH, Tata Hitachi, Escorts etc.
Excavators are 20-30% higher priced compared to backhoes but the huge volumes garnered by backhoe loaders give it an upper hand over excavators. The backhoe loader volumes will continue to dominate the market as focus on urban renewal programmes will create fresh demand.
The latest RNCOS study titled “Indian Construction Equipment Market Outlook 2018” is a comprehensive analysis of the industry reflecting the holistic market performance of top selling construction equipments in India, their individual market performance, current sales across regions and key states. The report studies the future demand of each of these equipments across the regions and states on the basis of upcoming construction projects in the key application verticals.
Other highlights of the report include latest industry trends, challenges, Government policies and initiatives which need to be considered while devising business strategies. Descriptive profiling of key competitors reflects their business, product offerings, dealer -network and strength-weakness analysis.
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