While the second wave throws up challenges, particularly in the manpower-intensive construction sector, it is said that it expects a better-prepared ecosystem. The mining and construction equipment industry is likely to grow by 15-20 percent in the calendar year 2021 but stressed that the economy, in the grip of a pandemic, could throw up sudden negative surprises. Following a 10-12 percent contraction in CY2020, dragged down primarily by the 39 percent decline in H1 CY2020, the mining and construction equipment (MCE) industry is poised to grow by 15-20 percent in CY2021 (5-10% in FY2022). Given the current uncertainty in the market, following the huge surge in COVID-19 cases in the recent weeks, the ground touchpoints are heavily clouded by the immediate term.
In short, the statistics below are taken from Industry data available pre-Corona virus impact.