$1.3 Billion Indian Concrete Equipment Market Outlook Report, 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 8, 2019--
The “India Concrete Equipment Market By Equipment (Truck Mixers, Concrete Pumps, Batching Plant & Others), By Type (Batching & Placing), By Capacity (150-300 m³/h, 10-20 m³/h, 60-150 m³/h, 20-60 m³/h & 0-10 m³/h), Competition, Forecast & Opportunities, 2014-20” report has been added to ResearchAndMarkets.com’s offering.
The Indian concrete equipment market is projected to cross $ 1,300 million by 2024, exhibiting a CAGR of 13% on account of anticipated growth in construction industry, increasing foreign investments, and rising number of smart city projects in the country.
On the basis of value, batching plant segment is the largest segment in the Indian concrete equipment market. The growth of the segment is led by growing customer preference for high capacity and technologically advanced batching plant. Moreover, factors such as increasing number of construction projects, shorter completion time, and the demand for customized solutions by end-users are further fuelling growth of this segment.
Government initiatives towards infrastructure development is further boosting the demand for concrete equipment in India. Some of the construction projects in the country include Smart City Mission, AMRUT, the Atal Mission for Rejuvenation of Urban Transformation, Metro Rail in urban areas, Bharatmala, and Sagarmala, among others.
In addition, government is also supporting the Indian concrete equipment market by liberalizing taxation policies for the construction industry such as GST and custom duty. In 2018, the government of India reduced the GST on concrete equipment from 28% to 18%, which will help the concrete equipment manufacturers to reduce the overall cost of equipment and other operational losses.
Some of the major players operating in the Indian concrete equipment market are: Schwing Stetter (India) Ltd., Putzmeister India Pvt. Ltd., Universal Construction Machinery & Equipment Ltd, KYB Conmat Pvt. Ltd. and many more.
Objective of the Study
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KEYWORD: INDIA ASIA PACIFIC
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/08/2019 01:45 PM/DISC: 11/08/2019 01:45 PM