Indian construction equipment industry poised for $25 billion growth by 2030

The Government of Karnataka is the Host State for EXCON 2023, which will see participation from Dr Mahendra Nath Pandey, the Minister for Heavy Industries, Government of India;  D K Shivakumar,  Deputy Chief Minister of Karnataka, among others.

Autocar Pro News Desk By Autocar Pro News Desk calendar 11 Dec 2023 Views icon5374 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Indian construction equipment industry poised for $25 billion growth by 2030

Nitin Gadkari, the  Minister for Road Transport & Highways, Government of India will inaugurate CII EXCON, South Asia’s’ Largest Construction Equipment Trade Fairon 12 December in Bengaluru. The Indian construction equipment industry is poised for a $25 billion growth by 2030. 

The Government of Karnataka is the Host State for EXCON 2023, which will see participation from Dr Mahendra Nath Pandey, the Minister for Heavy Industries, Government of India;  D K Shivakumar,  Deputy Chief Minister of Karnataka, among others.

The Ministry of Road Transport & Highways, The Ministry of Heavy Industries, the Government of India and the National Highways Authority of India (NHAI) are supporting partners to the event. The Indian Construction Equipment Manufacturers' Association (ICEMA) is the sector partner. 

While addressing the media in the city, Dimitrov Krishnan, Co-Chairman, CII EXCON 2023 said, “The theme for the 12th Edition of EXCON is “Building India’s Tomorrow” encompassing the fundamental pillars of Technology, Globalisation, Sustainability, and Inclusiveness." 

The Construction Equipment industry made a remarkable resurgence in the fiscal year 2022-23, achieving an impressive 26% growth. This outstanding performance propelled total sales to surpass the one lakh milestone, firmly establishing India as the world's third-largest CE market.

India's construction equipment industry is likely to witness over $ 4.5 billion worth of investments in the next 5-7 years, as demand arising out of infrastructure projects touches a new high, Sany India's Deepak Garg had told Autocar Professional in an earlier interview. 

The expected investments will come from the original equipment manufacturers (OEMs) and their suppliers, claims Deepak Garg, MD Sany India. 

“The Construction Equipment industry is positioning itself for remarkable growth, targeting over 15% year-on-year increase in the next five years,"  Krishnan added. 

Vijaykrishnan Venkatesan, Chairman, CII Karnataka said, “EXCON will demonstrate the manufacturing potential of the State with the large presence of OEMs and components industries participating in EXCON."

Concurrent to EXCON, CII will be organising series of Conferences spanning over 5 days, which includes Conferences on Atmanirbhar Bharat (CE Manufacturing); Conference on Women in Infrastructure; CEOs Roundtable Session; Seminar on ‘Components’;  Italy Meets India – Session on CE Industry; Session on Academia; Conference by BAI and Session on Components.

Another important focus at EXCON is the showcase of green and Innovative technologies through an exclusive Pavilion Sustainable Power Solutions. 

The Pavilion on AI, IoT & Automation will focus on next gen technology, smart Automation, Technology and Innovation. 

EXCON will have a participation of over 1000 exhibitors including 100 from overseas

 

 


 

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