trade and finance a variety of products such as hydraulic excavators, wheel loaders, backhoe loaders, motor graders, vibratory compactors, cranes, dumpers, tippers, forklifts trucks, dozers, pavers, batching plants, diesel engines, etc. During the last two decades, the earthmoving and construction equipment industry has made enormous progress and grown both in size and diversity. Growth in the construction equipment industry in India is linked to the overall level of infrastructure development as well as growth in construction activity.
India's earthmoving and construction equipment (ECE) industry has enjoyed strong growth over the last years as a result of rapid economic development in the country. As per the CII-IECIAL study conducted by Accenture, the ECE industry has the potential to expand six to seven times - the total revenue of US$ 3.3 billion in 2010 to US$ 22.7 billion in 2020. India's earthmoving and construction equipment (ECE) industry has enjoyed strong growth over the last seven years as a result of rapid economic development in the country. The organized construction sector in India (e.g. roads, urban infrastructure) accounts for approximately 55 percent of the ECE industry; Mining, irrigation and other infrastructure segments (e.g. Power, railways) account for the rest. These sectors are growing strongly, leading to the expansion of construction-related industries.
The Eleventh Five Year Plan had set an ambitious target of increasing total investment in infrastructure. his was expected to result in investment requirement of $ 514 billion for ten infrastructure sectors over the five year period. Infrastructure expenditure across segments is expected to more than double in this five year period. Infrastructure expenditure across segments is expected to more than double too. During the same period, the construction equipment industry is expected to grow at 19.3 per cent. As per a recent study conducted by IECIAL and CII along with Accenture, Indian CE industry has the potential to grow six to seven times with multiple benefits to the economy. The equipment sales volume is expected to increase from over 60,000 units in 2010 to 330,000 in 2020. Most global OEMs are expected to strengthen their presence in India, attracted by one of the world's fastest growing construction equipment markets and their need to mitigate cyclicality in developed markets. Nearly all the leading global OEMs have already entered India, while a few more are in the process of entering. All these players can be expected to increase product variety, introduce new applications and services (e.g. Rentals, financing) and hence catalyze growth by increasing supply.