India Construction Equipment Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | India |
| Largest Market: | India |
Major Players
- AB Volvo
- Action Construction Equipment Ltd.
- Caterpillar
- Escorts Kubota Construction Equipment Ltd
- Hyundai Construction Equipment Co. Ltd.
- Others
Reports Description
India Construction Equipment Market 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.
The construction equipment industry is booming in India. Construction equipment is heavy machinery that performs specific construction and demolition activities.
The construction equipment sector is made up of various segments such as earthmoving equipment, road construction equipment, civil engineering equipment, concrete equipment, crushing and screening equipment, earthmoving equipment, heavy construction vehicles, material handling equipment and road building equipment. This construction equipment is transferable, permanent and semi- permanent.
India Construction Equipment Market: Growth Factors
Indian Construction Equipment industry is rapidly expanding because the government is heavily investing in various construction projects. The Indian government is focusing on infrastructure development to enhance its infrastructure to reach its 2025 economic growth target of USD 5 trillion.
India’s population growth and economic development require improved transport infrastructure, including investments in roads, railways, aviation, shipping and inland waterways. For instance, the Government of India under the National Infrastructure Pipeline (NIP) projects investing USD 1.3 trillion in brownfield and greenfield infrastructure projects of above Rs 100 crore across both economic and social infrastructures.
Growing demand for construction equipment is a reflection of broader macroeconomic trends such as interest rates, infrastructure investment and liquidity, which themselves indicate the health of the overall economy.
This demand for equipment is expected to grow in line with the expansion of real estate development from India’s key urban centres into tier-2 and tier-3 cities, which in turn expected to drive the market growth during the forecast period.
Furthermore, various emerging technologies Artificial Intelligence, the Internet of Things, Generative AI, and other advanced technologies are optimising the design process, generating highly efficient and innovative designs, improving efficiency and reducing cost. These advanced technologies play a pivotal role in facilitating gradual expansion and improving efficiency in the sector.
Key players operating in the construction equipment industry provide the cutting-edge machinery and equipment needed to support the industry’s transformation, ensuring that construction projects across the nation are not only innovative but also executed with enhanced efficiency, and precision with a focus on sustainability. Thus, adoption of such advanced technologies is expected to drive the market growth during the forecast period.
India Construction Equipment Market: Restraints
Various factors such as Volatility in real estate and related industries, such as construction equipment, have resulted in demand-supply gaps that hamper analysis of the sector and its trends. The growing use of construction equipment resulted in environmental concerns and restraining the market growth.
Heavy construction equipment is the major source of ozone emissions, thus resulting in the deterioration of air quality. These equipment emits various gases such as nitrogen oxides (NOx), Volatile Organic Compounds (VOC) and carbon monoxide, these gases adversely affect the environment causing environmental imbalance across rural and urban areas, which in turn reduces the utilization of these equipment thereby reduces market growth.
India Construction Equipment Market: Opportunities
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.
For instance, the Government of India recently launched the National Master Plan ‘Gati Shakti’. This scheme of over INR 100 lakh crores is focused on holistic and integrated infrastructure development. Such increased investment in infrastructure would create demand for construction equipment.
In November 2022, the National Investment and Infrastructure Fund (NIIF) was set up as a collaborative investment platform between the Government of India, global investors, multilateral development banks (MDB) and domestic financial institutions to facilitate and promote investment across multiple sectors in India through an India Japan Fund. Thus, these factors are expected to create lucrative opportunities for many global players to enter in Indian Market.
The increasing influx of foreign direct investment in the construction sector is encouraging the entry of many new players in the market, either in the form of joint ventures with Indian companies or by foreign firms setting up their local manufacturing facilities.
Key players operating across most market segments are JCB, Escorts, ACE and BEML are launching innovative construction equipment in the market, thereby creating lucrative opportunities for India’s construction equipment market.
India Construction Equipment Market: Segmentation Analysis
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 growing investment in the construction sector across India.
Heavy construction equipment is used for excavation, heavy lifting, tunnelling, and material handling. Renting and leasing heavy construction equipment is an advantageous and profitable business in India. Thus, such factors are expected to propel the market growth of this segment during the forecast period.
However, compact construction equipment is expected to grow at fasted CAGR during the forecast period. Compact construction equipment is small in size and has less capacity, enabling it to be suitable for small jobs and jobs in constrained spaces. This equipment is used for various applications such as excavation, heavy lifting, tunnelling, and material handling.
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 of 64.56% in 2023 and is expected to keep its dominance during the forecast period. An increase in demand is due to the increase in infrastructure projects across India and the use of traditional heavy-duty excavators by construction companies to build dams and highways.
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.
ICE produces power with a combustion engine, which is then transmitted to the wheels via a transmission system. The electric propulsion system is expected to grow at a significant growth rate during the forecast period owing to growing demand for environmentally friendly propulsion systems.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 7.8 Billion |
| Projected Market Size in 2033 | USD 17.4 Billion |
| Market Size in 2023 | USD 7.2 Billion |
| CAGR Growth Rate | 8.16% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Equipment Type, Product Type, Propulsion Type, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | India |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
India Construction Equipment Market: Regional Analysis
India Construction Equipment market is segmented into North India, South India, East India, and West India. Among all these regions, North India held a significant market share of the India Construction Equipment Market in 2022 and is expected to grow at a significant pace during the forecast period.
Rapidly expanding construction projects in Delhi NCR, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh and Jammu Kashmir are driving the market growth of this region.
West India is expected to emerge as a potential region during the forecast period. States like Maharashtra, Gujrat, and Madhya Pradesh are playing a major role in driving the growth of this region. Increasing infrastructure projects in these states, increasing investment in the construction sector, and growing construction activities in Tier 2 and Tier 3 cities are driving the market growth of this region.
India Construction Equipment Market: Recent Developments
- In Feb 2023, Faridabad-based tractor and machinery major Escorts Kubota decided to separate new earthmoving verticals to focus on the growing demand for the construction equipment segment. The new vertical will be operational in the early part of the financial year 2023-2024 and will initially have two major products: backhoe loaders and mini excavators. Through this new vertical company is aiming to strengthen its construction equipment business segment.
- In June 20233, Escorts Construction Equipment launched a hybrid pick-n-carry crane in the country. Dubbed NXT13DC CNG, this pick-n-carry crane can be operated on diesel or CNG.
- In April 2022, J C Bamford Excavators Ltd leading manufacturer of earthmoving and construction equipment, a fully-owned subsidiary of UK-based J C Bamford Excavators, launched a consolidated manufacturing factory in Vadodara, With the Gujarat factory, the total investment made by JCB in India is estimated at more than £1 billion. Also, one in two of every construction machine sold in India today is made by JCB. The company has a total production capacity of about 50,000 machines a year.
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 growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
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
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 India Construction Equipment Market, (2024 – 2033) (USD Billion)
- 2.2 India Construction Equipment Market: snapshot
- Chapter 3. India Construction Equipment Market – Industry Analysis
- 3.1 India Construction Equipment Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Supportive Government Policies
- 3.2.2 Growing Construction Industry
- 3.2.3 Increasing urbanization
- 3.2.4 Growing investment in public infrastructure.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Equipment Type
- 3.7.2 Market Attractiveness Analysis By Product Type
- 3.7.3 Market Attractiveness Analysis By Propulsion Type
- 3.7.4 Market Attractiveness Analysis By End User
- Chapter 4. India Construction Equipment Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 India Construction Equipment Market: Company Market Share, – 2033
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. India Construction Equipment Market – Equipment Type Analysis
- 5.1 India Construction Equipment Market Overview: By Equipment Type
- 5.1.1 India Construction Equipment Market Share, By Equipment Type, – 2033 and 2024
- 5.2 Heavy Construction Equipment Type
- 5.2.1 India Construction Equipment Market by Heavy Construction Equipment Type, 2024 – 2033 (USD Billion)
- 5.3 Compact Construction Equipment Type
- 5.3.1 India Construction Equipment Market by Compact Construction Equipment Type, 2024 – 2033 (USD Billion)
- 5.1 India Construction Equipment Market Overview: By Equipment Type
- Chapter 6. India Construction Equipment Market – Product Type Analysis
- 6.1 India Construction Equipment Market Overview: By Product Type
- 6.1.1 India Construction Equipment Market Share, By Product Type, – 2033 and 2024
- 6.2 Civil Engineering Equipment
- 6.2.1 India Construction Equipment Market by Civil Engineering Equipment, 2024 – 2033 (USD Billion)
- 6.3 Concrete Equipment
- 6.3.1 India Construction Equipment Market by Concrete Equipment, 2024 – 2033 (USD Billion)
- 6.4 Crushing and Screening Equipment
- 6.4.1 India Construction Equipment Market by Crushing and Screening Equipment, 2024 – 2033 (USD Billion)
- 6.5 Earthmoving Equipment
- 6.5.1 India Construction Equipment Market by Earthmoving Equipment, 2024 – 2033 (USD Billion)
- 6.6 Heavy Construction Vehicles
- 6.6.1 India Construction Equipment Market by Heavy Construction Vehicles, 2024 – 2033 (USD Billion)
- 6.7 Material Handling Equipment
- 6.7.1 India Construction Equipment Market by Material Handling Equipment, 2024 – 2033 (USD Billion)
- 6.8 Road Building Equipment
- 6.8.1 India Construction Equipment Market by Road Building Equipment, 2024 – 2033 (USD Billion)
- 6.9 Other Equipment
- 6.9.1 India Construction Equipment Market by Other Equipment, 2024 – 2033 (USD Billion)
- 6.1 India Construction Equipment Market Overview: By Product Type
- Chapter 7. India Construction Equipment Market – Propulsion Type Analysis
- 7.1 India Construction Equipment Market Overview: By Propulsion Type
- 7.1.1 India Construction Equipment Market Share, By Propulsion Type, – 2033 and 2024
- 7.2 ICE
- 7.2.1 India Construction Equipment Market by ICE, 2024 – 2033 (USD Billion)
- 7.3 Electric
- 7.3.1 India Construction Equipment Market by Electric, 2024 – 2033 (USD Billion)
- 7.4 CNG/LNG
- 7.4.1 India Construction Equipment Market by CNG/LNG, 2024 – 2033 (USD Billion)
- 7.1 India Construction Equipment Market Overview: By Propulsion Type
- Chapter 8. India Construction Equipment Market – End User Analysis
- 8.1 India Construction Equipment Market Overview: By End User
- 8.1.1 India Construction Equipment Market Share, By End User, – 2033 and 2024
- 8.2 Residential
- 8.2.1 India Construction Equipment Market by Residential, 2024 – 2033 (USD Billion)
- 8.3 Commercial
- 8.3.1 India Construction Equipment Market by Commercial, 2024 – 2033 (USD Billion)
- 8.4 Infrastructure
- 8.4.1 India Construction Equipment Market by Infrastructure, 2024 – 2033 (USD Billion)
- 8.1 India Construction Equipment Market Overview: By End User
- Chapter 9. India Construction Equipment Market – Regional Analysis
- 9.1 India Construction Equipment Market Regional Overview
- 9.2 India Construction Equipment Market Share, by Region, – 2033 & 2024 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 AB Volvo
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Action Construction Equipment Ltd.
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Caterpillar
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Escorts Kubota Construction Equipment Ltd
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Hyundai Construction Equipment Co. Ltd.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 J C Bamford Excavators Ltd.
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 KOBELCO CONSTRUCTION EQUIPMENT INDIA PVT. LTD.
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Komatsu India Pvt. Ltd.
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 LARSEN & TOUBRO LIMITED
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 LIEBHERR
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 LiuGong India Pvt. Ltd.
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 SANY GROUP
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Safari Construction Pvt Ltd
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Tata Hitachi Construction Machinery Company Pvt Ltd
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Volvo
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.16 XCMG Group
- 10.16.1 Overview
- 10.16.2 Financials
- 10.16.3 Product Portfolio
- 10.16.4 Business Strategy
- 10.16.5 Recent Developments
- 10.17 Zoomlion India Pvt. Ltd.
- 10.17.1 Overview
- 10.17.2 Financials
- 10.17.3 Product Portfolio
- 10.17.4 Business Strategy
- 10.17.5 Recent Developments
- 10.18 Doosan Bobcat India Pvt. Ltd
- 10.18.1 Overview
- 10.18.2 Financials
- 10.18.3 Product Portfolio
- 10.18.4 Business Strategy
- 10.18.5 Recent Developments
- 10.19 Mahindra Construction Equipment
- 10.19.1 Overview
- 10.19.2 Financials
- 10.19.3 Product Portfolio
- 10.19.4 Business Strategy
- 10.19.5 Recent Developments
- 10.20 Sany Heavy Industry India Pvt. Ltd
- 10.20.1 Overview
- 10.20.2 Financials
- 10.20.3 Product Portfolio
- 10.20.4 Business Strategy
- 10.20.5 Recent Developments
- 10.21 Others.
- 10.21.1 Overview
- 10.21.2 Financials
- 10.21.3 Product Portfolio
- 10.21.4 Business Strategy
- 10.21.5 Recent Developments
- 10.1 AB Volvo
List Of Figures
Figures No 1 to 29
List Of Tables
Tables No 1 to 2
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
|
| Demand-side |
|
|
Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
|
Prominent Player
- 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
FAQs
The restraints of the Indian Construction Equipment market includes stringent regulations, high cost of construction equipment, growing environmental concerns due to the heavy construction equipment’s.
The major drivers for the India Construction Equipment market are supportive government policies, growing construction industry, increasing urbanization, growing investment in public infrastructure.
The “Heavy Construction Equipment Type” category dominated the market in 2023.
The key players in the market are 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.
The market is projected to grow at a CAGR of 8.16% during the forecast period, 2024-2033.
The India Construction Equipment Market size was valued at USD 7.8 Billion in 2024.