By Will Soutter
Research and Markets has added a new report titled "Indian Construction Equipment Market - 2012" to its offering.
The new report reveals that the Indian government is actively participating in infrastructure development because it helps a country to grow economically. The Indian construction equipment industry is hoping for tremendous growth with the prolonged impetus on infrastructure. Total infrastructure expenditure increased from USD 514 billion in Eleventh Five Year Plan (2007–2012) to USD 1,025 billion in the Twelfth Five Year Plan (2012 -2017).
India’s construction sector witnessed tremendous growth in the last 10 years and the growth was fuelled by unique infrastructure development. The significance of the increase of this construction sector in the overall economic growth of the country was evidenced during the enforcement of the Eleventh Five Year Plan. In the last five years, the contribution of this section to the country’s GDP has uniformly been more than 8%. It further raised 9.6% of the GDP in FY2012. As per the research report, in 2011 the Indian construction equipment market was pegged at USD 4 billion, and by 2016, the industry is slated to reach USD 10 billion, growing at 20% per year. The demand for construction equipment is expected to grow from about 50,000 units in 2011 to more than 91,000 units in 2016.
The industry’s major growth drivers will be increasing population, economic development and the government's initiatives. Several policy measures have been implemented by the government to improve investor confidence as well to draw foreign investment.
The new report assesses the Indian construction equipment market in the context of the international industry, and the challenges and opportunities it presents. It examines the different sectors of the industry. The report also analyses the infrastructure investment, competition, opportunities as well as regulatory policies that control the sector.