India’s construction equipment industry witnessed a 5 per cent rise in sales to 28,902 units during the April-June quarter of 2024-25, a report said on Friday.
As per the data released by the Indian Construction Equipment Manufacturers’ Association (ICEMA), the construction equipment (CE) industry had sold 27,577 units in the same period of the previous fiscal.
“The first quarter sales of construction equipment in FY2024-25 grew 5 per cent on a year-on-year basis from 27,577 units in Q1 FY2023-24 to 28,902 units in Q1 FY2024-25,” it said.
The report further said the growth was a result of increasing year-on-year sales in three of the five main equipment segments of the CE industry in the April-June 2024 period.
“These were earthmoving equipment with a 5 per cent increase, road construction equipment with a 9 per cent increase, and concrete equipment with a growth of 11 per cent.
“Material handling equipment and material processing equipment, on the other hand, clocked 3 per cent and 4 per cent reduction in sales in Q1 FY25 as compared to Q1 FY24,” it added.
On a quarter-on-quarter basis, the report, however, said the total sales figures for Q1 FY25 were 29 per cent lower than 40,965 units sold in Q4 FY24.
As per ICEMA, of the total 28,902 units of construction equipment sold in Q1 FY25, 26,020 units were sold in the domestic market, while 2,882 units were exported.
The earthmoving equipment segment sold 19,858 units while the sales of material handling equipment stood at 3,760 units, concrete equipment at 3,199 units, road construction equipment at 1,457 units and material processing equipment at 628 units in the first quarter of FY 2024-25.
On a month-on-month basis, sales in June 2024, at 9,363 units, recorded a 2 per cent de-growth compared to May 2024, and there was a 5 per cent increase over the 8,889 units of sales recorded in June 2023.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 16 2024 | 5:32 PM IST
