Market Trends of India Crane Industry
Mobile Cranes to Boost the Market Growth
India is witnessing rapid infrastructure development, including the construction of roads, bridges, and urban buildings. Mobile cranes are essential in these projects due to their versatility and mobility allowing for efficient material handling and construction processes in various locations.
Unlike stationary cranes, mobile cranes can be easily moved from one site to another. This mobility is particularly advantageous in a country like India where construction projects are spread across vast and diverse geographical areas. The flexibility of mobile cranes in handling different types of loads and their ability to operate in constrained spaces make them highly suitable for urban construction environments.
Additionally, the Indian government's focus on infrastructure projects through initiatives like 'Smart Cities' and 'Make in India' has led to increased demand for construction equipment, including mobile cranes. These government programs are not only boosting the construction sector but also encouraging the growth of ancillary industries, including crane manufacturing and rental services.
The integration of new technologies in mobile cranes, such as telematics, advanced safety features and improved load-handling capabilities, has made them more appealing to the construction industry. These technological enhancements not only improve safety but also increase the efficiency and productivity of construction operations.
This market is expected to continue its growth trajectory fueled by the ongoing development and modernization efforts across the country.
Construction Sector to Witness a Significant Growth Rate
India is experiencing rapid urbanization with a significant shift of the population moving to urban areas. This urbanization is driving demand for new residential and commercial buildings, infrastructure projects and urban redevelopment initiatives. Cranes, being essential for vertical construction, are thus in higher demand to facilitate these building activities.
The Indian government's focus on infrastructure development including projects like highways, metro rails, airports and smart cities is a critical growth factor for the crane market. These large-scale projects require heavy lifting and material handling capabilities that cranes provide, especially for moving construction materials and installing heavy components.
Further fueling the demand for cranes in the construction sector are initiatives like the Smart Cities Mission and the Pradhan Mantri Awas Yojana aimed at modernizing urban infrastructure and expanding affordable housing. These projects are not only large scale but also complex necessitating the use of advanced cranes that offer improved safety and efficiency.
Technological advancements in the construction sector also play a pivotal role. As India's construction practices evolve, there an increasing adoption of modern cranes that can handle more complex and heavier loads making them indispensable in contemporary construction projects. Additionally, the sector is benefitting from increased Foreign Direct Investment (FDI), which not only boosts overall construction activity but also introduces advanced construction methodologies, often reliant on diverse types of cranes.
Lastly, the local manufacturing and supply chain development for cranes, encouraged by government policies, has reduced the sector's reliance on imports. This shift not only makes cranes more readily available but also potentially more affordable, further stimulating their use in construction projects across India.
