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Home arrow Alliances and Joint Ventures arrow Construction Equipment Industry eyes six times growth by 2020: Vipin Sondhi
Construction Equipment Industry eyes six times growth by 2020: Vipin Sondhi Print E-mail
Written by Cherian   
Wednesday, 23 November 2011
Bangalore: India's earth moving and construction equipment (ECE) sector has the potential to grow six times - from the total revenues of US $ 3.3 billion in 2010 to US $ 22.7 billion in 2020. The industry was valued at US$3.3 billion in 2010 as compared to US$1.7 billion in 2006, exhibiting a CAGR of over 18 percent over 2006 to 2010.

Vipin Sondhi, Chairman, EXCON 2011 & Managing Director & CEO, JCB India Limited said that the ECE industry is a major contributor to the Indian Economy where India's spend on infrastructure constitutes 5-6% of the total GDP.

Speaking about infrastructure development, Mr.Sondhi said that there is an urgent need to step up the pace of infrastructure development. The need for mechanisation and quality is very high.  The Indian Construction equipment in industry is set to play a vital role in the development of India's growing need of infrastructure development. The opportunities are plenty for the industry. This fact reflects in the projected investment in the infrastructure sector in the 12th plan period (2012-17) which is pegged at US $ 1 trillion.

EXCON 2011 - the 6th international Construction Equipment & Construction Technology Trade Fair - will take place from November 23 - 27 at the Bangalore International Exhibition Centre (BIEC). Spread over 200,000 Sq.Meters of display area and with a participation of over 630 exhibitors, including 200 foreign Companies Excon is the largest exhibition on construction equipment in South Asia. The event will also witness over 400 new product launches by participating companies.

EXCON 2011 will have a large presence of SMEs in the component and aggregate manufacturing, showcasing India's potential as a preferred outsourcing destination for construction equipment manufacturing.

Dr.C.P.Joshi, Union Minister for Road Transport & Highways, Government of India has agreed to inaugurate EXCON 2011 on 23rd November 2011 at 14:30 Hrs at BIEC. The Minster will also release at the inaugural session the CII - IECIAL Report  on Indian Earthmoving & Construction Industry Vision 2020: Commanding New Heights" prepared in Association with Accenture.

In his presentation of Excon 2011, Vipin Sondhi said "This is the sixth edition of the EXCON, the inaugural edition of which was held in 2000. With each successful edition, the event has witnessed immense growth both in quality and in numbers. So, while this will be the largest event on all counts including the number of domestic and overseas visitors, exhibition area and new product launches, the bigger difference will be the presence of enhanced foreign players. There will be country Pavilions including leading economies like China, Finland, Germany, Italy, Japan, South Korea, Spain and Turkey."

From the demonstrations of the equipment for earth moving & construction, lifting, material handling, concrete making, hydraulic, pneumatics and drills, to a display of power tools & piling, electronics, controls & instrumentation, compactors and compressors & generators, EXCON 2011 promises to give close to 35,000 visitors from different parts of India, a great business opportunity. Apart from the participation of major equipment renting companies, and leasing and finance companies that offer on the spot loans, visitors can benefit by benchmarking product features of different makes, interacting about their requirements with technical heads, and negotiating deals with Chief Executives.

Coinciding with Excon 2011, CII will organise a CEO's Roundtable on "Skill Management in Construction Equipment Industry" IECIAL, an affiliate body of CII, will host a 2 day conference on ECE industry - Vision 2020 and Beyond and a Members meet by the Builders Association of India.

The Government of Karnataka is the partner state for Excon 2011 and the India Earthmoving & Construction Industry Association is the Sector partner. The event is supported by the builders association of India.

Last Updated ( Wednesday, 23 November 2011 )
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