According to a recent article on Construction Times, the Indian mobile crane industry is poised for growth. Here are the key points:
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Current Market Scenario:
- The Indian government’s ambitious “Vision 2030” initiative aims to transform India into a $5 trillion economy by 2025 and a $10 trillion economy by 2030.
- Infrastructure development projects, including roads, railways, seaports, airports, urban transport, and inland waterways, have created a strong demand for mobile cranes in India.
- Pick-n-carry cranes, which constitute over 90% of the total mobile crane industry in India, are widely used for material handling operations.
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Growth Trends:
- In the current financial year (FY24), the Indian mobile crane industry recorded an impressive 26% year-on-year (YoY) growth.
- The pick-n-carry cranes segment specifically saw a remarkable 45% YoY growth.
- Escorts Kubota Limited, a market leader in safe cranes, introduced the TRX 30 crane with a 30-ton capacity for mega infrastructure projects.
- The TRX 30 features joystick-controlled craning, a hydraulically operated winch with safety brakes, and efficient driveline components.
- Telematics integration allows real-time monitoring of crane performance and location.
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Future Outlook:
- Despite a potential drop in the first quarter of FY25 due to general elections, the mobile crane industry is expected to grow at a CAGR of 4-5% until FY28.
- Government policies supporting infrastructure development will continue to drive demand for mobile cranes in India ¹.
(1) The Indian mobile crane industry will continue to grow in future… The Indian mobile crane industry will continue to grow in future. - Top Construction and Infrastructure Magazine.
(2) Construction Times - Top Construction and Infrastructure Magazine. https://constructiontimes.co.in/.
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