Construction Industry

Building equipment industry is a wide sector which is booming day by day with the improvement and advancement in technology. A thorough analysis of this industry will surely help contractors to spot industry trends and modify their business models accordingly. If we make a comparison of past and present, there is a massive change in the scenario of this industry. It is growing 30% annually and gearing to meet the future expectations. Analyzing the past and present of this industry would help in keeping a record of growth that has taken place and also help in updating one with the latest information of building equipment industry.

 

A peep into the past
India is still developing and the level of technology was not so advanced in the past. Also, Indian market could not afford the cost of latest technology which would result in the importing of components. From this point of time,equipment industry tried to match with the international level of technology. It is a very well known fact that equipment industry is directly linked with construction industry. Without construction,equipments are of no use. The recent credit crisis and recession that started in December 2007 has strongly affected the building equipment industry. Areas with overbuilt houses experienced a precipitous rise in fall of housing prices. There was a significant decrease in the ongoing new housing constructions. Retailers,state and local government reduced their spending on equipments because there was a fall in constructional projects.

 

Current scenario
The rise in energy cost has resulted in renovation and construction of new buildings. Advanced and modernized equipments are the need of the hour, because after overcoming recession, constructional projects are at peak. Earlier there was poor quality of  technology which resulted in low quality machines, but now 'Green construction' , an environment friendly and energy efficient method of  construction is emerging as a popular area which is attracting everybody's attention. Recyclable and earth-friendly machineries are being used in such constructional projects. Public limited companies comprise 71% of this sector and private limited companies 29%.

 

A variety of machines such as hydraulic excavators, wheel loaders, backhoe loaders, bull dozers, dump trucks, tippers, graders, pavers, asphalt drum / wet mix plants, breakers, vibratory compactors, cranes, fork lifts, dozers, off-highway dumpers (20T to 170T), drills, scrapers, motor graders, rope shovels etc. have been introduced now with more advanced functionality. The past few years gone through a phase of reconstruction within the industry,which is a result of acquisitions and joint ventures. This throws light on the interest of foreign market in domestic market. Therefore,Indian machinery is in high demand all across the world. Many international buyers have shown interest in importing and selling Indian equipments.