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Excavators are the second-largest product category in India's construction equipment sector, accounting for between 30,000-35,000 units per year out of a total market of 136,000.
By Priya Singh
Key Highlights:
Volvo Construction Equipment (Volvo CE) India has assisted the arrival of two Korean undercarriage part manufacturers to establish a facility in the country, indicating a shift toward greater localisation.
According to Dimitrov Krishnan, Managing Director of Volvo CE India, these firms will supply Volvo and other market competitors.
Industry bodies such as the Indian Construction Equipment Manufacturers Association (ICEMA) are leading similar activities, as evidenced by a recent delegation visit to Japan for the same objective, Krishnan stated.
He also mentioned that the Indian supply chain ecosystem has seen considerable changes in recent years. Volvo CE's latest introduction, with 70% local material, demonstrates this trend. "It's a challenging battle, but we're taking it head-on and making it happen," Krishnan told reporters.
Last month, Volvo CE presented the new EC210, a 20-tonne hydraulic excavator. Excavators are the second-largest product category in India's construction equipment sector, accounting for between 30,000-35,000 units per year out of a total market of 136,000.
Notably, the 20-tonne segment accounts for 70% of excavator demand, with 18,000-20,000 units sold annually. "This segment is simply too important to ignore," Krishnan stated.
Also Read: Volvo CE India Strategizes for Higher Profitability with Expanded Production of Larger Machinery
CMV360 Says
Volvo CE India's move to bring in Korean manufacturers and work with industry groups is a smart step towards reducing reliance on imports and building a stronger local supply chain.
This effort is a big win for the Indian economy and helps pave the way for India to become a major player in the construction equipment industry.
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