India's construction equipment industry witnessed a 30% rise in sales to 36,055 units in Q3 FY24, driven by strong domestic demand. ICEMA reports growth across segments.
Photograph: Amit Dave/Reuters
New Delhi, Jan 30 (PTI) India's construction equipment industry has witnessed a 30 per cent rise in sales to 36,055 units in the third quarter of the current fiscal, a report said on Monday.
As per the data released by Indian Construction Equipment Manufacturers Association (ICEMA), the construction equipment (CE) industry had sold 27,817 units in the third quarter of the previous fiscal.
"Of the overall sales for Q3 FY24, 33,135 units were sold domestically and 2,920 units were exported," it said.
Sales of material handling equipment rose 46 per cent to 4,482 units and concrete equipment sales grew 43 per cent to 3,840 units during the period.
Road construction and material processing equipment sales stood at 1,958 and 688 units, registering an increase of 38 per cent and 18 per cent, respectively.
ICEMA President V Vivekanand requested the government to ensure that the steady pace of execution of projects is maintained, which is critical for the consistent growth and development of the construction equipment industry.
ICEMA is the nodal body representing the construction equipment industry in the country and is affiliated to Confederation of Indian Industry (CII).
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