Construction Equipment Sales Surge 31% in Q2 FY24 - ICEMA

New Delhi, Nov 6 (PTI) India's construction equipment industry has witnessed a 31 per cent rise in sale to 30,078 units in the second 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 22,941 units in Q2 of FY 2022-23.

"Of these (30,078 units), domestic sales accounted for 27,423 units while 2,655 units were exported," it said.

According to ICEMA, the growth in sales during the second quarter of the current fiscal comes on the back of positive growth in all five of the CE industry's major equipment segments, viz., earth moving equipment by 23 per cent, road construction equipment by 65 per cent, material handling and material processing equipment by 66 per cent each and concrete equipment by 47 per cent.

While earth moving equipment, which has a 70 per cent share in total construction equipment sales, recorded a total sale of 20,669 units, pick and carry cranes (3,383 units) constituted the bulk of Material Handling Equipment sales while concrete equipment sales were largely accounted for by concrete mixers (1,990 units).

Within the month of September 2023, overall CE sales increased 22 per cent month-on-month to 11,930, as compared to 9,796 in August 2023.

ICEMA President V Vivekanand said the extremely encouraging sales growth in the second quarter of the current fiscal year is largely a result of increased momentum in implementation of infrastructure projects.