Off-Highway Research forecasts Indian rebound

However, a bounce-back is expected in 2015, with +25% growth as the government of Narendra Modi, which won a landslide victory in this year’s general election, converts its economic plans to real construction activity on the ground.

As far as equipment types are concerned, backhoe loaders are by far the most widely used machines in India. Even in this year’s depressed market, Off-Highway Research expects 22,500 backhoe loaders to be sold in 2014. This is forecast to go up to 27,000 units next year as the market accelerates.

However, the company says there are better long-term prospects for bigger, more productive machines, as opposed to the near-saturated backhoe loader market. Crawler excavator sales, for example, are expected to grow from 9,100 machines this year to some 25,000 units by 2018. Prospects also look good for other core earthmoving machines such as dozers, graders and wheeled loaders.

The overall forecast is for equipment sales to rise from this year’s expected figure of 46,755 machines to 89,030 in 2018. There is expected to be broad growth across all equipment types, with the earthmoving machinery sector looking particularly strong.

Off-Highway Research will be exhibiting at bC India on booth B27 in indoor area H7.