India's Construction Equipment Sales Surge by 5% in Q1 FY2024-25

India's construction equipment industry saw a 5% increase in sales during Q1 FY2024-25 compared to the same period last fiscal. Total sales reached 28,902 units, mainly due to growth in earthmoving, road construction, and concrete equipment. However, quarterly figures were 29% lower than the previous quarter.

India's construction equipment industry has recorded a remarkable 5 per cent increase in sales during the first quarter of the fiscal year 2024-25, reaching 28,902 units, according to a report released by the Indian Construction Equipment Manufacturers' Association (ICEMA).

The significant rise is attributed to year-on-year growth in three of the five major equipment segments—earthmoving equipment, road construction equipment, and concrete equipment—which saw increases of 5 per cent, 9 per cent, and 11 per cent respectively. Conversely, material handling and material processing equipment experienced declines of 3 per cent and 4 per cent.

Despite the annual growth, sales figures for Q1 FY25 were down 29 per cent from the previous quarter's 40,965 units. Of the total sales, 26,020 units were sold domestically, while 2,882 units were exported. June 2024 saw a slight dip in sales compared to May 2024 but posted a 5 per cent increase from June 2023.

(With inputs from agencies.)