India's Construction Boom: Sales to Double by 2035

India's construction equipment industry is projected to see substantial growth, with annual sales potentially reaching 250,000-300,000 units by 2035. This expansion could make the market worth $25-30 billion by the same period, as demand shifts towards larger, more productive machinery. Key growth drivers include ongoing investments in infrastructure, particularly in roads, mining, and railways, with significant railway investments expected over the next seven to eight years.

There is a notable trend towards increased operating efficiency, uptime, and lifecycle cost considerations among customers. Mining operations are increasingly demanding larger excavators and wheel loaders. Furthermore, electric construction equipment is gaining interest, with models offering significant battery life for various applications. Volvo CE is supporting this shift through its Equipment-as-a-Service model and anticipates hydrogen technologies to play a role from around 2030.

Digitalization, including connected machines and AI-based fleet management, is also creating opportunities to enhance machine utilization, predict maintenance, and reduce downtime. Volvo CE is focusing on delivering greater productivity and lower total cost of ownership to its customers. The company's manufacturing in Bengaluru supports both domestic sales and exports to various global regions.