Concrete and construction equipment kingpin Schwing Stetter India poured in revenue of Rs 5,000 crore+ in 2023, fueled by a potent mix of double-digit growth (a 35% surge year-over-year), the company informed in a statement on Thursday.
Speaking about the growth of Schwing Stetter India, V. G. Sakthikumar, Managing Director and Chairman, said, “Demand for our construction and concreting equipment machinery has been increasing at a stellar rate since COVID-19; the record volumes over the years were possible because of the stimulus measures put in place by the Government of India (GoI) to boost infrastructure development in the country.”
“Also, we are bullish about the short- and long-term growth prospects for 2024; therefore, we have launched 31 new products for mining, shipping, and road and highway infrastructure industries, including port container handling, mining support, and road patching equipment, at Excon 2023. As we add more product categories due to robust demand, we will soon become a one-stop shop for customers in the construction industry,” he added.
The company recently announced new product line-ups at Excon 2023 to address the pain points of the CE subsegments, including mining, ports, material handling, and road & highway infrastructure in India.
Schwing Stetter (India) sells and services equipment like concrete pavers, aerial working platforms, all-terrain cranes, cold milling machines, crawler cranes, excavators, horizontal directional drilling, motor graders, rotary drilling rigs, tower cranes, truck cranes, and wheel loaders.
Schwing Stetter has manufacturing units in 12 countries, including Germany, Austria, the USA, Brazil, Russia, Ostrava, the UK, and India, supported by sales and service centres in France, the Netherlands, Austria, and Sweden, as well as representations in more than 150 countries worldwide.