Construction Equipment Industry targets over 15% year-on-year growth in next 5 years

Pune Pulse Construction Equipment Industry targets over 15% year-on-year growth in next 5 years

Construction Equipment Industry targets over 15% year-on-year growth in next 5 years

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Pune, :  The Confederation of Indian Industry (CII) organised a city-based roadshow today to announce EXCON 2023. This event witnessed the participation of leading names from the  industry and various stakeholders from the infrastructure and construction equipment sector.

EXCON, South Asia’s largest exhibition for construction equipment, organized by the Confederation of Indian Industry (CII), is scheduled to be held from December 12 to 16, 2023, at the Bangalore International Exhibition Centre in Bengaluru.

The event will spread over 30 lakhs sq. ft of display area and is expected to attract over 1200 exhibitors from India & abroad including countries like Austria, China, Czech Republic, France, Germany, Italy, Romania, Russia, South Korea, Spain, Sri Lanka, Turkey, United Arab Emirates, United Kingdom, United States of America.  Government of Karnataka is the Host State for EXCON 2023.

Commenting on this, Somesh Sabhani,  Senior Vice President – Industrial Sales, Gulf Oil India Ltd said, “We are excited to present the Twelfth Edition of EXCON, embracing the theme  ‘Building India’s Tomorrow’.  This theme encompasses the core principles of Technology, Globalization, Sustainability and Inclusiveness.  EXCON 2023 is more than just an event; it serves as the driving force behind India’s continuous progress, symbolizing our robust infrastructure development and solidifying India’s prominent position as a global hub for construction equipment manufacturing”.

In 2023, the construction industry is on the cusp of a technological revolution, driven by several key innovations.  Generative AI, an advanced technology, is optimizing the design process, generating highly efficient and innovative designs. technology plays a pivotal role in facilitating gradual expansion and improving efficiency in the sector. Moreover, the Construction Equipment industry is positioning itself for remarkable growth, targeting over 15% year-on-year increase in the next five years. This ambitious goal underscores their commitment to providing the cutting-edge machinery and equipment needed to support the industry’s transformation, ensuring that construction projects across the nation are not only innovative but also executed with enhanced efficiency, and precision with a focus on sustainability.

India’s economic progress is closely linked with the infrastructure sector’s vitality, which has garnered significant government focus. Demonstrating a strong commitment to this cause, the government has earmarked a substantial allocation of Rs. 10 lakh crores, equivalent to an impressive US$ 130.57 billion, to strengthen this sector. The government has recognized the immense size and potential of technology within the construction landscape. As part of a technology sub-mission under PMAY-U, they have identified 54 innovative global technologies, heralding the dawn of a new era in the Indian construction technology sector. This initiative is expected to pave the way for a more inclusive roadmap for all stakeholders.

Shujaul Rehman,  Chairman, CII Pune Zonal Council &  Chief Executive Officer, Garware Technical Fibres Ltd said, “With its rich heritage, renowned education, and a thriving IT sector, Pune stands as a testament to progress.  Together under the EXCON banner, we recognize infrastructure’s pivotal role in shaping our shared future. The construction equipment industry holds the key to unlock Pune’s full potential. We invite industry leaders to join us on this transformative journey, showcasing cutting-edge technologies and championing cost-effective solutions that propel our city and its people to even greater heights.”

EXCON serves as a dual-purpose platform, offering opportunities for both marketing and education to all stakeholders. Government officials and senior bureaucrats have leveraged it as an educational forum for multiple departments, including Public Works Departments (PWDs) and Civil Engineering Departments, private contractors, builders, road and infrastructure developers, smart city and urban planning experts, the army, and Border Roads Organizations. This platform enables them to observe the latest displays of technology, equipment, and machinery, facilitating the nation’s accelerated infrastructure development requirements.

The event will highlight leading construction equipment manufacturers as they showcase the adaptability of their machinery and the advancement of construction technologies. Of utmost significance, these exhibitors will present economical solutions aimed at accelerating project execution for builders and contractors, placing a strong emphasis on upholding standards of quality, safety, and environmental sustainability.

Some of the prominent organisations participating at the event include JCB, BKT, Caterpillar, Imperial Auto, Jindal Steel & Power, Gulf Oil, Kobelco, KYB, Larsen and Toubro, Puzzolana, Sany, Schwing Stetter, Syemco, Tata Hitachi, Ammann, Case, Doosan, Epiroc, Fiori, GNU, Nail Stone, Hyundai, ITR, Liebherr, Propel, Rockcut, Walvoil, Wipro, Yuken India besides OEMs, Components manufacturers and other allied industry organisation.

The Indian Construction Equipment Manufacturers’ Association (ICEMA) is the sector partner for EXCON 2023. Infrastructure Equipment Skill Council (IESC) and the Builders Association of India (BAI) are supporting partners.