Market Study and Potential for EOT Cranes, Gantry Cranes, Jib, and the Market for Imported European Hoist and Crane Components in India.
A boom in the construction industry caused a corresponding boom in the demand for construction building equipment (specifically in cranes and hoists), which shows prediction of increasing in the future. Cement, steel, and construction industries have all been involved in this popularity, all of them requesting EOT cranes, Gentry cranes, JIB cranes and European-imported hoist and crane components. The market for machinery is huge, particularly for used machinery coming from Europe with the latter mostly being used in the unorganized sector. Off Highway Research (OHR), reported that in 2009, India sold 6,499 mobile cranes, most of which have been the pick and carry type. As of 2011, the market size for EOT cranes and hoists is approximately Rs 1,500 crore to 1,700 crore (Project Monitor). By the year 2010, alone the value number of cranes in total was estimated to exceed Rs5,43,500 core. Some skepticism is current regarding the European second-hand machines. However, it is predicted that with growing realization of the cost-effectiveness of these machines and with growing pressure of demand that will push up prices, the market for these second hand machines may yet flourish.
The crane market is also divided according to tonnage with it falling here into three categories: light, medium, and heavy capacity. With the project sizes in core and industrial construction expanding, machines at the far end of the heavy capacity are most in demand (Basistha, 2008).
India's EOT crane market has risen dramatically since the beginning of the new millennium with sales exceeding 34% per year, and this growth is predicted to continue. The average EOT crane life in India is 25 years. The average life of the other cranes approximately the same, or shorter. As the government continues with is building projects, demand seems to be exceeding supply, and so the market for all cranes in India - EOT Cranes, Gantry Cranes, Jib, and Imported European Hoist & Crane Components -is large and poised for growth.
Sector and Region-Wise Requirement.
India is split up into tier I and tier II cities and in...
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