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Construction equipment sales increased by 5% in Q1 FY 2024–25, reaching 28,902 units, driven by a 5% rise in earthmoving, road construction, and concrete equipment, but saw declines in material handling and processing equipment. Q4 FY 2023–24 sales dropped 29% from 40,965 units, with Earthmoving Equipment, comprising 70% of total CE sales, experiencing a 31% decline, along with other segments. The first quarter of the financial year is traditionally slower due to seasonality and the general elections in India, but the industry is hopeful that demand momentum will resume after the monsoon. In Q1 FY25, 28,902 units of construction equipment were sold domestically, with 26,020 units in the domestic market and 2,882 exported, with Earthmoving Equipment selling 19,858 units.
The Indian construction equipment (CE) industry experienced a 5% increase in sales in Q1 2024–25, despite the general election impact, according to Jaideep Shekhar, convener of the ICEMA Industry Analysis and Insights Panel and VP & Managing Director of Terex India Private Limited. Sales in June 2024 decreased by 2% compared to May, but increased by 5%. Earthmoving and concrete equipment saw growth, while Material handling, road construction, and material processing equipment saw reduced sales. The Indian CE industry is optimistic about its accelerated growth this year, driven by new technologies, localization, and policies attracting foreign investment.
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Construction, Infrastructure and Mining
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