2025 – The Year of Optimism Beckons…

Starting the New Year 2025 with good news… The Indian Construction Equipment (CE) industry has recorded its highest-ever year-on-year growth from April to October 2024, propelled by increased government infrastructure spending and a sharp rise in exports.

According to the Indian Construction Equipment Manufacturers’ Association (ICEMA), the industry registered cumulative sales of 73,845 units in this period, compared to 71,235 units in 2023 and 55,832 units in 2022—a remarkable 32% jump from 2022 levels. Exports also surged, rising from 4,139 units in H1 2022 to 7,348 units in H1 2024.

What was being seen as a lull since quite sometime has proved to be a pleasant surprise and brought cheer for the entire industry stakeholders. Domestic demand has been buoyed by increased government infrastructure spending, which has seen year-on-year growth. Exports remain a standout, driven by India’s compliance with global safety and emission standards. With Stage V emission norms set to take effect in January 2025, manufacturers are already aligning, further strengthening India’s global competitiveness. Exports, which were under $500 million five years ago, are expected to touch nearly $1 billion this year, according to ICEMA.

The recently concluded bauma CONEXPO INDIA 2024 has already proven to be a great mood setter for the industry wherein the industry players showcased new age advanced mean machines that are also serving the dual purpose of being eco-friendly. With many interesting events lined up at the start of the year 2025 such as Bharat Mobility Global Expo, the stage is set for the CE fraternity to keep driving the wheels of growth in full throttle.