India's Construction Equipment Industry Records 5% Sales Increase to 28,902 Units in Early 2024

India's construction equipment industry experienced a 5% increase in sales, reaching 28,902 units during the April-June quarter of 2024–25, according to a report released on Friday.

Data from the Indian Construction Equipment Manufacturers' Association revealed that sales were up from 27,577 units in the same period of the previous fiscal year.

The report noted that the growth in the first quarter of the financial year 2024–25 compared to the same quarter in the previous fiscal year was driven by rising sales across three of the five major equipment segments in the construction equipment sector during the April–June 2024 period.

These were earthmoving equipment with a 5% increase, road construction equipment with a 9% increase, and concrete equipment with a growth of 11%.

Material handling equipment and material processing equipment, on the other hand, clocked 3% and 4% reductions in sales, respectively, in the first quarter of this fiscal year as compared to the first quarter of the financial year ended in 2024.

On a quarter-on-quarter basis, the report, however, said the total sales figures for the first quarter of financial year 2025 were 29% lower than the 40,965 units sold in the fourth quarter of 2024.

As per ICEMA, of the total 28,902 units of construction equipment sold in the first quarter of this fiscal year, 26,020 units were sold in the domestic market, while 2,882 units were exported.

The earthmoving equipment segment sold 19,858 units while the sales of material handling equipment stood at 3,760 units, concrete equipment at 3,199 units, road construction equipment at 1,457 units and material processing equipment at 628 units in the first quarter of fiscal 2024–25.

On a month-on-month basis, sales in June 2024, at 9,363 units, recorded a 2% de-growth compared to May 2024, and there was a 5% increase over the 8,889 units of sales recorded in June 2023.

(With Inputs From PTI)