The Indian Construction Equipment Market is the 4th largest in the world right now and is on the verge of becoming a global hub for it. In the last 5 years, i.e. from FY 2015-16 to 2020-21, the MoRTH (Ministry of Road Transports & Highways) has sanctioned more than 2000 projects, costing almost INR 163302 Crores for the development of various National Highways across India. In 2018 the GST rate on construction equipment was reduced from 25 % to 16 % which further boosted the growth of this industry.
Future of Construction Equipment Market
In India, the construction activities are mainly divided into the following segments: Road Construction, Earth Moving, Material Handling, Concrete Mixing, and Excavation Activities. The construction equipment that dominates the market is Backhoe Loaders, Compactors, Mini-Excavators, and Excavators.
Different factors such as Rapid Urbanization, Increased Government Spendings on Infrastructure Projects and consistent FDI’s are playing a crucial role in the growth of the industry.
The Construction Equipment industry in India is expected to cross INR 34000 Crores by the end of FY 2025-26. Some of the biggest projects include Bharatmala Pariyojana, Smart City Projects, and Metro-Rail Projects in different urban parts of India. Also, once the construction activities begin in full fledge, the construction equipment industry is going to flourish like never before!
Truckbazi.com – A Difference Maker
On Truckbazi’s platform, different users across all over India can easily sell or rent any of their construction equipment. Truckbazi.com also provides a large variety of construction equipment, such as excavators, mobile crushers, stone crushers, backhoe loaders, dozers, transit mixers, etc. for the buyers to fulfil their needs and demands.
The registered users on Truckbazi.com hail from different states of India, such as Maharashtra, Gujarat, Rajasthan, MP, Bihar, Andhra Pradesh, Telangana and many more! Thus, the business owners, who conduct their operations in the construction equipment market, can conduct their business deals across different parts of India on the Truckbazi platform, with a hassle-free experience.
The digitization of the construction equipment market created a big opportunity for different businesses to widen their scope of operations and Truckbazi.com is helping the most of it. By providing a “Digital Walk-In”, Truckbazi.com aims to enhance the traditional ways of doing business and transform the construction equipment industry.
