Indian Construction Equipment Market Outlook 2018

Equipment rental market is defined in terms of ‘rental penetration’ which is the value of total equipments sold to rental companies over the value of total equipment sold in the market. Construction equipment rental market is a huge business in the Indian construction pitch. Majority of small contractors prefer hiring construction equipments rather than owning them which has given way to numerous small rental players spread across the country. Rental activity is mainly concentrated in the unorganized sector with over 10,000 players operating with small fleet size of up to 10 equipments. The most sought after equipments for rental include backhoe loaders, compaction equipment, mobile cranes and hydraulic excavators, motor graders, and vibratory compactors. This segment is dominated by regional equipment hirers who have sound knowledge of the needs of contractors in their area and provide desired flexibility due to their personal relations. Few major players such as GEAR, GMMCO, Quippo, TIL etc. exist in the renting business. Top ten rental companies accounting for approximately 3,500 units between themselves, representing less than 5% of the total estimated units available for rental. The equipment rental market is estimated to grow at a CAGR of around 25% to touch INR 69 Billion mark by 2018. The latest RNCOS study titled “Indian Construction Equipment Market Outlook 2018” is a comprehensive analysis of the industry reflecting the holistic market performance of top selling construction equipments in India, their individual market performance, current sales across regions and key states. The report studies the future demand of each of these equipments across the regions and states on the basis of upcoming construction projects in the key application verticals. Other highlights of the report include latest industry trends, challenges, Government policies and initiatives which need to be considered while devising business strategies. Descriptive profiling of