FCC

ICEMA reports 5% increase in CE sales to 28,902 units for Q1 FY25

2024-08-19

India's construction equipment industry saw a 5% increase in sales, reaching 28,902 units during the April-June 2024-25 quarter, according to a report. The Indian Construction Equipment Manufacturers' Association (ICEMA) noted that sales had been 27,577 units in the same period the previous fiscal year.

"The first quarter of FY2024-25 saw a 5% year-on-year growth from 27,577 units in Q1 FY2023-24 to 28,902 units in Q1 FY2024-25," the report stated.

This growth was driven by increased sales in three out of five key equipment segments: earthmoving equipment (+5%), road construction equipment (+9%), and concrete equipment (+11%). However, material handling and processing equipment saw declines of 3% and 4%, respectively. On a quarter-on-quarter basis, Q1 FY25 sales were 29% lower than the 40,965 units sold in Q4 FY24.

Out of the 28,902 units sold in Q1 FY25, 26,020 were in the domestic market and 2,882 were exported. The breakdown by segment includes 19,858 units of earthmoving equipment, 3,760 units of material handling equipment, 3,199 units of concrete equipment, 1,457 units of road construction equipment, and 628 units of material processing equipment. In June 2024, sales totaled 9,363 units, marking a 2% decline from May but a 5% increase from June 2023’s 8,889 units.