Noida, UP -- (ReleaseWire) -- 07/07/2014 -- Indian construction equipment industry has taken cues from global markets where after sales service is an important and integral part of the business. Although at a nascent stage, the after sales services is rapidly emerging as buyers give higher weightage to quality after sales services delivered by the OEM. Driven by huge demand from construction sector, the Indian construction equipment market is projected to grow at a cumulative annual growth rate of around 19% during the forecast period 2013-2018.
Easy availability of non-OEM spares and cheaper services offered by unorganized players has dented the Indian after sales services market for the past years. However, as the Indian market develops to attain world class standards, after sales services have become important for majorly for specialized equipments. Key players have shifted focus towards services as this feature helps them establish a clear distinction from the new entrants and low quality equipments which do not guarantee after sales services. Growing consumer awareness coupled with player level initiatives to boost the after sales network has given push to this segment which is poised for sound growth in long term. Currently, the market is witnessing growth and is believed to grow at a healthy rate in coming years.
The latest RNCOS study titled “Indian Construction Equipment Market Outlook 2018”, is a comprehensive analysis of the industry reflecting the holistic market performance of top selling construction equipments in India, their individual market performance, current sales across regions and key states. The report studies the future demand of each of these equipments across the regions and states on the basis of upcoming construction projects in the key application verticals. Other highlights of the report include latest industry trends, challenges, Government policies and initiatives which need to be considered while devising business strategies. Descriptive profiling of key competitors reflects their business, product offerings, dealer -network and strength-weakness analysis.
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