Statistics, news & updates: everything you need to know about the Industrial Equipment Industry in India


  • Summary
  • COVID-19 Impact
  • Industry Clusters
  • Growth Drivers
  • Key Players
  • Market Stats


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The Industrial Equipment sector describes a diverse set of industries from complex machinery, both fixed and mobile, to large-scale process and construction industry plants. To begin with, Industrial equipment covers a very wide range of devices. Subsequently, the industrial equipment manufacturing industry aids many other industries, supplying companies with highly specialized products and services such as material handling and earthmoving machinery like backhoe loaders, excavators, etc. Therefore, the market is considered to be very competitive, with manufacturers seeking to anticipate demand, deliver products, reduce production time and offer increasing services.

Covid Impact

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.

Growth Drivers

  • For this purpose, Construction is one of the key demand drivers for industrial equipment.
    • The construction equipment market in India is witnessing exponential growth for the last few years.
    • That being the case population proliferation, rapid urbanization, and increasing government spending on infrastructure projects increases impetus for various infrastructure developments.
    • Moreover, Government has approved an outlay of Rs 6.92 trillion (US$ 107.64 billion) in October 2017 to build a road network of 83,677 km over the next five years
    • Consequently, demand for related machinery in building roads has increased significantly due to large-scale public and private investments inroads.
  • The industrial equipment industry also includes the auto-components industry. Hence, the Indian auto-components industry has experienced healthy growth over the last few years. Therefore, the auto-component industry of India has expanded by 10.6 percent to reach a level of US$ 56.2 billion in FY19.
  • Thus, the growing working population and expanding middle class are to remain the key demand drivers.
  • The auto-components industry accounts for 2.3 percent of India’s Gross Domestic Product (GDP) and employs as many as 1.5 million people directly and indirectly each.
  • Accordingly, the Government of India has also renewed its focus on the development of the infrastructure of the country.
  • On the condition to develop infrastructure, demand for construction equipment and other machinery is expected to rise significantly.

Key Players in India


  • Larsen and Toubro
  • CG Power and Industrial Solutions Ltd.
  • Engineers India Ltd
  • Cummins India Ltd
  • Thermax Ltd, and
  • BGR Energy Systems Ltd


  • JCB India
  • Metso Minerals
  • Atlas Copco
  • Trane Technologies

Map – Industry Clusters


Market Stats

  • The market size of the Indian tooling industry is expected to increase at CAGR of 11 per cent from Rs 14,650 crore (US$ 2.18 billion) in 2016-17E to Rs 20,000 crore (US$ 2.98 billion) by 2019-20.
  • On the other hand, Exports of dies, moulds, and press tools stood at Rs 1,700 crore (US$ 253.39 million) in FY17.
  • Moreover, 200 manufacturers are engaged in the production of process plant machinery.
  • As a matter of fact, production and exports stood at US$ 2.91 billion and US$ 1.38 billion in FY17, respectively.
  • Further, 20 large and global manufacturers and 200 small and medium manufacturers operate in the earthmoving, construction and mining equipment industry.
  • Furthermore, the construction equipment industry’s size is estimated to reach US$ 5 billion by FY20 from around US$ 4.3 billion in FY18.
  • Additionally, Infrastructure investments in India increased from US$ 369.28 million in 2008-12 to US$ 577.19 million in 2013-17RE and are further expected to grow to US$ 778.90 million.
  • Also, India has one of the largest road networks (5.48 million km) comprising expressways, national, state highways, districts and village roads
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