Volvo CE India Sets Ambitious Goal to Double Market Share

Volvo CE holds a significant position in the Indian construction equipment sector, offering a diverse range of products such as compact excavators, wheeled excavators, and crawler excavators. Their Indian headquarters in Bangalore is focused on manufacturing crawler excavators, soil compactors, and asphalt pavers. Besides, Volvo CE provides support products, rental services, and merchandise tailored to meet the needs of various industries across India. 

Volvo CE Set To Double Its Market Share

Volvo CE India, a subsidiary of the Swedish Volvo Group, is targeting a significant increase in its market share across segments in India. Managing Director Dimitrov Krishnan stated that currently, the company holds a 6.5% market share in the earth moving and construction equipment (CE) segment, representing 40% of the market. Volvo CE India aims to double this market share in the coming years as part of its growth strategy in the country.

Construction Equipment Segment in India

The Construction Equipment (CE) sector in India is experiencing rapid growth, driven by the country’s ongoing infrastructure development. According to figures from the Indian Construction Equipment Manufacturers’ Association (ICEMA), the industry size in 2023-24 was 1,36,000 units, valued at around Rs 85,000 crore. ICEMA projects that this market size will double by 2030

Investors looking to capitalize on this growth of the sector can consider listed companies involved in the CE segment, such as Action Construction Equipment Ltd (ACE), BEML Limited, VST Tillers, and  Tractors Limited.

Conclusion

The rapid growth of the Construction Equipment (CE) sector in India, driven by substantial infrastructure development, presents significant opportunities for both industry players and investors, with the market size expected to double by 2030. Volvo Construction Equipment (Volvo CE) is looking to build its market share, aiming to double its presence in the Indian market. Listed companies like Action Construction Equipment Ltd (ACE), and BEML Limited, are also poised to benefit.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.