Record sales of cranes in India
28 August 2019
Mobile cranes are the third largest selling equipment type in India after backhoe loaders and hydraulic excavators, according to a report by market research organisation Off-Highway Research (OHR). Sales of these machines hit an all-time high of nearly 12,000 units in 2018, with some 96 per cent of demand being for locally manufactured pick and carry cranes.
OHR’s new Equipment Analysis report on the mobile crane industry in India stated, “The infrastructure sector started showing signs of recovery from 2015 when the overall construction equipment market grew by 2 per cent after falling successively for three years beginning in 2012. However, essentially being support equipment, mobile cranes usually respond later to the change in trends, and their demand continued the decline even in 2015. After falling consecutively for four years, 2016-2018 proved to be a strong recovery period for the equipment.”
According to OHR, this year’s general election has been disruptive for equipment sales in general, and the mobile crane market will not escape a brief downturn. However, growth is expected to resume in 2020 and new sales records are expected to be set in subsequent years. This applies to both pick and carry cranes and conventional all-terrain, rough terrain, truck-mounted and crawler cranes, sales of which could exceed 500 units in 2023, OHR said.
Off-Highway Research’s September 2019 Mobile Cranes India Equipment Analysis is now available to subscribers to the Chinese Service. Click here to log in. The report can also be bought as a stand-alone publication by non-subscribers. Click here for more details or contact email@example.com to enquire about a subscription.