Construction equipment sees top gear growth in domestic and export sales: ICEMA

CHENNAI: Buoyed by govt spend on infrastructure projects, the construction equipment industry has seen its highest overall volumes in three years as well as its highest exports in the April-December 2024 period.

According to the latest data from industry apex body ICEMA (Indian Construction Equipment Manufacturers’ Association), the industry clocked 98,970 units in the first nine months of the current fiscal, up 5% from 94,685 units in April-December 2023 and 34% from 73,795 units sold in April-December 2022.

In terms of exports too, the industry clocked a three-year high of 9,733 units, up from 9,181 units in 2023 and 5,700 units in 2022.

In terms of quarterly results, Q3FY25 saw the highest volume and export numbers as well with 35,835 units in domestic sales – up from 33,135 in Q3FY24 and 25,565 in Q3FY23 – and exports of 3,547 units compared to 3,452 units and 2,252 units in Q3FY24 and Q3FY23 respectively.

In sequential terms too, the Q3 tally is the highest this year with Q2FY25 clocking 27,382 units in domestic sales and 3,304 units of exports while Q1FY25 clocked 26,020 units in domestic sales and 2,882 units of exports.

According to ICEMA, several factors contributed to the growth of the industry. They include the continued thrust on infrastructure development by the govt post-election, the end of the monsoon season, pre-buying ahead of the implementation of the CEV V emission standards in January 2025 and the introduction of various new variants of construction equipment machinery.

“With the continued focus on infrastructure spending in the recent budget there is good optimism for demand to further strengthen in the coming quarters”, said V Vivekanand, president, ICEMA and MD, Caterpillar India.


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