Demand Outlook for Concrete Equipment Market in India by 2025: Significant Growth Potential as Ready-Mix Concrete Demand is Expected to Grow at 10-12% in the Next 5 Years

The Indian Concrete Equipment Market is Projected to Cross 1.5 Billion USD by 2024

The ready-mix concrete market outlook looks very promising, as construction activities in India are expected to grow exponentially in the coming years as infrastructure is likely to be the key engine driving economic growth in the coming decades. Besides, the rising uses of ready-mix concrete in constructions, alongside the high anticipated growth in the economy and substantial investments in the development of ready-mix concrete, drive the market growth. With the vast demand and consumption of ready-mix concrete to build sustainable structures, the market share is estimated to accelerate further during the review period.

The Indian concrete equipment market is projected to cross 1.5 billion USD by 2024, as the construction industry is expected to witness historic growth, backed by increasing foreign investments, and a rising number of smart city projects in the country. On the basis of value, batching plant segment is the largest segment in India's concrete equipment market. The growth of the segment is led by growing customer preference for high capacity and technologically advanced batching plants. Moreover, factors such as the increasing number of construction projects, shorter completion time, and demand for customized solutions by end-users are further fuelling the growth of this segment.

Government initiatives towards infrastructure development are 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, the government is also supporting the Indian concrete equipment market by liberalizing taxation policies for the construction industry.

India is likely to invest over $1 trillion dollars in the infrastructure sector over the next few years and this will see huge investment in construction activities. Very easily one could factor that nearly 15-20% of this spend will go in the procurement of construction equipment that is used across different sizes, scale and types of infrastructure projects cutting across myriad industries like rail, road, power, ports, airports, housing, etc. Given that FDI in construction has been hiked to 100%, the deluge of investment is likely to be seen in the sector and the biggest beneficiary of this is likely to be the concrete equipment industry. Other than the backhoe loader that is indispensable construction equipment across infrastructure projects, Concrete equipment demand is likely to demonstrate strong growth from hereon driven by Realty & public sector spending on large infrastructure projects. 

In order to better outline the demand outlook, the report carries out a detailed demand-side assessment to extrapolate the emerging demand and also provide pointers for the companies in the segment to strategize and strengthen their portfolio of products to cater to this growing market opportunity.