Sales of construction equipment increased 30% to 36,055 units in Q3FY24, according to ICEMA

Sales of construction equipment increased 30% to 36,055 units in Q3FY24, according to ICEM

Sales of construction equipment increased 30% to 36,055 units in Q3FY24, according to ICEMA

In the third quarter of the previous fiscal year, the construction equipment (CE) sector sold 27,817 units, according to figures made public by the Indian Construction Equipment Manufacturers Association (ICEMA).

Equipment for material processing and road construction had sales of 1,958 and 688 units, respectively, representing increases of 38% and 18%.

According to a study released on Monday, sales of construction equipment in India increased by 30% to 36,055 units during the third quarter of the current fiscal year. In the third quarter of the previous fiscal year, the construction equipment (CE) sector sold 27,817 units, according to figures made public by the Indian Construction Equipment Manufacturers Association (ICEMA).

"Of the total sales for Q3FY24, 33,135 units were sold locally as well as 2,920 units were exported," it said. Sales of concrete equipment climbed by 43% to 3,840 units during the period, while sales of material handling equipment increased by 46% to 4,482 units.

Equipment for material processing and road construction had sales of 1,958 and 688 units, respectively, representing increases of 38% and 18%. In order to sustain the construction equipment industry's growth and development, ICEMA President V. Vivekananda asked the government to make sure that projects be completed at a constant rate.

ICEMA, which is associated with the Confederation of Indian Industry (CII), is the national nodal organization for the construction equipment sector.