Market Share of India Construction Equipment Industry
The market is fragmented and competitive, with various domestic and international companies operating across India. Some of the major players include Caterpillar, Komatsu, Volvo Construction Equipment, JCB, Tata Hitachi Construction Machinery, XCMG, SANY, and Hyundai Construction Equipment, among others. These players compete based on various parameters such as price, diversified product portfolio, financing options, maintenance & repair support, and geographical coverage across India, among others.
Various companies operating in the ecosystem are actively engaging in forming partnerships and collaborations and launching new products to enhance their brand presence and expand their business capability across India. For instance,
In January 2023, Komatsu India displayed their new product named HB365LC-1 hybrid excavator at the ConExpo India Trade Fair 2023 in Noida-NCR. The product is claimed to be at least 20% more energy efficient and helps reduce carbon emissions compared to conventional equipment.
In November 2022, JCB India announced its partnership with Federal Bank, a private sector lender, to boost financing options of prospective buyers willing to purchase construction equipment. Under the arrangement, Federal Bank will be the preferred finance partner of the construction equipment manufacturer, where JCB's customers can avail of loans from the lender at competitive interest rates.
India Construction Equipment Market Leaders
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Caterpillar Inc.
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Komatsu Ltd.
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Volvo Construction Equipment
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JCB
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Tata Hitachi Construction Machinery Company Pvt Ltd
*Disclaimer: Major Players sorted in no particular order
