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Conexpo India 2018, the flagship construction equipment industry exposition to be held at New Delhi during December 11-14 is set to see the convergence of global players and India equipment manufacturers, showcasing latest technological developments and upgrades.
The platform is expected to serve as a trade fair for business to business covering construction equipment, building material machines, mining machines and construction vehicles.
Bauma Conexpo India is expected to discuss various challenges of the construction equipment industry and deliberate on the solutions and opportunities provided by the India market.
Apart from exploring new equipment and new technologies, the participants, drawn from more than 30 countries will get to get access to more than 700 exhibitors, their products and services, according to Tushar Alekar, Commercial Director, Messe Mumnchen India.
According to India Construction Equipment Market by segment, by product type , competition forecast and opportunities, during FY 2012-FY 2024, construction equipment market is set to grow at a compounded annual growth rate of 6.8 per cent as the construction sector is on expansion mode.
Rapid urbanisation, increasing foreign investments and surging demand for customised equipment are few of the other major factors expected to boost demand for construction equipment in the country over the new few years.
The expo will see The Buyer-Seller programme debuting and helping in matchmaking.
DVN Reddy, State Chairman, Builders Association of India, said “the sector has potential for faster growth provided the fund flow for projects and payments are timely. The order book and pipeline for the construction industry is strong and this points to growth in years to come.”
As per estimates, the construction equipment sales are expected to go up from 75,000 units in 2016-17 to 1,23,000 units in 2021-22. In value terms, this will mean a growth from Rs 29,300 crore in 2016-17 to Rs 56,000 crore in 2021-22 crore. This covers roads, irrigation, railways and urban development.
The Andhra Pradesh Government has become the partner State for the upcoming expo and will host a separate pavilion, Alekar said.
Mentioning about the potential, Reddy said that the investments on the construction sector has gone up and timely payments will help accelerate its growth.
He also hoped that the anomaly of labour being brought under 18 per cent GST needs to be corrected and bought down to 12 per cent.
Reddy expressed the difficulty of various construction companies which had entered into contracts before the GST regime was implemented.
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