Are you an asphalt drum-mix plant manufacturer? Do you specialize in the manufacturing of road construction equipment? If yes, this is a must-read for you!
The Indian economy is seeing an unprecedented phase of growth, spurred by the massive infrastructure projects that the Indian government has initiated. While logistics infrastructure is a broader term that encompasses elements such as roads, railways, shipping, and airways; roads are a major contributor to the boom. This growth is expected to see a major explosion as newer projects such as PM Gati Shakti, MMLP, Bharatmala, etc. gain more momentum.
India has one of the largest road networks in the world, simply because of the tremendous network that includes highways to smaller connecting roads that crisscross through the length and breadth of the country. This network plays a significant role in the growth of the economy as it opens up connectivity and trade opportunities in a region.
India specifically saw this growth with the introduction of the Pradhan Mantri Gram Sadak Yojana in late 2000. Currently, the country is at the cusp of unprecedented growth wherein projects such as the Bharatmala project, Setu Bharatam project, Char Dham Highway project, etc. are expected to fuel this growth further and boost the country’s journey to become an economic superpower in the future.
How Does This Boom Impact the Road Construction Industry?
So why is infrastructure development so important? In terms of connectivity via roads, infrastructure development is critical. The obvious reason is the development that follows when a region has great connectivity. The second reason is that it also brings with it more job opportunities and avenues for local road construction equipment manufacturers in India to engage and contribute to nation-building.
There are several road construction equipment manufacturers in the country who have been in the business for years. With the government renewing its focus on enhancing road connectivity in the country, these manufacturers have the opportunity to showcase and sell products that are at par with international standards.
The scope for Indian manufacturers is multi-fold now as the government is now promoting products manufactured in the country through its Make in India campaign.
What will be the Impact on Road Construction Equipment Manufacturers?
Encouraging figures have emerged via analyst estimates who claim that the project execution in well-placed companies has improved to about 90 percent in the past few months. You would be surprised to know that as per the collection data from FASTag, the toll collection has improved to about 96 percent.
All of this can be attributed to the aggressive road development in the country. With more projects coming in, there will be a greater demand for road construction materials and equipment, which spells a time of tremendous growth for road construction equipment manufacturers in India. While the pandemic had thrown a spanner in the growth of the industry for two years and brought in challenges such as labour migration, the industry has picked up quite well since the pandemic subsided. As per reports by the Ministry of Road Transport and Highways, in the past few months, there has been an uptick in the number of highway contract awards.
A report by the Indian Construction Equipment Manufacturer’s Association claims that the sector has seen a 47 percent growth in the second quarter of FYI 2022 – 23.
Factors That Will Positively Impact the Sector
Even as the economy is staggering back to normal, the construction equipment industry will see a commendable growth trajectory because of the following factors:
Demand from End User Industries
With India gradually becoming denser in terms of road network, the demand for road construction is expected to grow further. This growth will also fuelled further by other end-user industries such as mining and construction.
Growing Urbanization
The extensive road infrastructure development projects laid down by the government promise a larger scale of urbanization. This circles back to the demand for more construction equipment and materials demand.
If you are looking for high-grade construction materials or equipment, you can reach out to Kaushik Engineering Works – one of the top road construction equipment manufacturers in India!
Delivering Nothing But the Best Construction Equipment For Decades!
Kaushik Engineering Works are a prominent Construction Equipment Manufacturing Company in India. A reputed asphalt drum-mix plant manufacturer who also specializes in high-quality construction equipment, we are here at your service. To connect with us, call +91 – 98251 64764 or write to us at info@kaushikengineeringworks.com.
