India Construction Equipment Market Size Likely to Surpass at a CAGR of 8.16% By 2033

India Construction Equipment Market size was valued at USD 7.8 Billion in 2024 and is expected to reach USD 17.4 Billion by 2033, at a CAGR of 8.16% during the forecast period 2024 – 2033.

India Construction Equipment Market: Overview

Construction equipment is designed and created to meet all construction site necessities and needs. They are robust, heavy duty and require. Construction equipment is nothing but heavy-duty vehicles specially designed for executing construction tasks, most frequently involving earthwork operations.

India’s construction equipment market is mainly driven by factors such as robust economic development, infrastructure growth, rising investment in public and private construction activities, growing OEM presence availability of skilled labor at low cost, higher FDI in construction and increasing construction activities in rural Indian are some of the factor driving the market growth.

Various factors such as economic uncertainties, lack of skilled workforce, Scarcity of land for infrastructure development, regulatory issues, environmental concerns and delays in project approval hampers construction projects and restrain the market growth of the India Construction Equipment Market.

Supportive government policies such as the Make in India Initiative, Production Linked Incentive Scheme, National Investment and Infrastructure Fund (NIIF), and PM Gati Shakti Scheme are expected to create lucrative opportunities for the construction equipment market during the forecast period.

India’s Construction Equipment market is segmented by equipment type, product type, propulsion type, end user and region. By Equipment type, the market is segmented into heavy construction equipment type and compact construction equipment type.

Among these equipment types, heavy construction equipment held the highest market share in 2023 and is expected to keep its dominance during the forecast period owing to the growing demand for heavy construction equipment in earthwork operations. Furthermore, the increasing trend of renting and leasing these heavy machines for earthwork is also expected to drive the market growth of this segment.

By product type, the market is segmented into civil engineering equipment, concrete equipment, crushing and screening equipment, earthmoving equipment, heavy construction vehicles, material handling equipment, road building equipment and other equipment. Among all of these, Earthmoving equipment held the highest market share in 2023 and is expected to keep its dominance during the forecast period.

By Propulsion type, ICE propulsion held the highest market share of 82.30% in 2023 and is expected to keep its dominance during the forecast period. ICE propulsion offers a game-changing high thrust propulsion system ideal for construction equipment of all sizes.

By Region, North India is expected to hold a significant market share in the India Construction Equipment market during the forecast period. Growing residential and commercial infrastructural activities in Delhi NCR, Haryana, Punjab, Uttar Pradesh and Jammu & Kashmir.

Report Scope

Custom Market Insights has comprehensively analyzed India Construction Equipment market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this India Construction Equipment industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

List of the prominent players in the India Construction Equipment Market:

• AB Volvo
• Action Construction Equipment Ltd.
• Caterpillar
• Escorts Kubota Construction Equipment Ltd
• Hyundai Construction Equipment Co. Ltd.
• J C Bamford Excavators Ltd.
• KOBELCO CONSTRUCTION EQUIPMENT INDIA PVT. LTD.
• Komatsu India Pvt. Ltd.
• LARSEN & TOUBRO LIMITED
• LIEBHERR
• LiuGong India Pvt. Ltd.
• SANY GROUP
• Safari Construction Pvt Ltd
• Tata Hitachi Construction Machinery Company Pvt Ltd
• Volvo
• XCMG Group
• Zoomlion India Pvt. Ltd.
• Doosan Bobcat India Pvt. Ltd
• Mahindra Construction Equipment
• Sany Heavy Industry India Pvt. Ltd
• Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, collaborations, expansion, strategic alliances, new product launches, etc. to enhance their product portfolio and business operations.

The India Construction Equipment Market is segmented as follows:

By Equipment Type

• Heavy Construction Equipment Type
• Compact Construction Equipment Type

By Product Type

• Civil Engineering Equipment
• Concrete Equipment
• Crushing and Screening Equipment
• Earthmoving Equipment
• Heavy Construction Vehicles
• Material Handling Equipment
• Road Building Equipment
• Other Equipment

By Propulsion Type

• ICE
• Electric
• CNG/LNG

By End User

• Residential
• Commercial
• Infrastructure