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Construction equipment sales surge 26% to 135,650 units in FY24: ICEMA
May-07-2024

The Indian Construction Equipment Manufacturers' Association (ICEMA) in its latest report has said that India's construction equipment industry witnessed a 26 per cent rise in sales to 1,35,650 units in the 2023-24 fiscal (FY24)on the back of the government's infrastructure-led growth agenda. The construction equipment (CE) industry had sold 1,07,779 units in the previous fiscal year.

It further said the government's infra-led growth agenda and pre-election impetus on projects in the pipeline triggered positive growth in all five major construction equipment segments. It stated the industry's excellent annual performance has been a result of significant increase in demand for construction equipment observed in both domestic as well as exports markets, by 24 per cent and 49 per cent, respectively.

Besides, it said the total sales of earthmoving equipment -- the largest equipment segment of the CE industry -- increased to 93,531 units in FY24, which is 21 per higher than 77,164 units sold in FY23, accounting for approximately 70 per cent of the total construction equipment sales in FY24.


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