BRAVING THE WAY
With future demand continuing to be characterized by evolving complexities, amidst persisting demand retrogression, crawler cranes manufacturers in India brace up for future showdown as overall sentiment prevails over demand fundamentals remaining stable, P. P. Basistha takes a look.
Preceded by demand slump in the past three years, 2012 was not exceptional for crawler cranes manufacturers in India. With rental rates remaining under pressure, led by extended financial closures of projects, especially in power, as well as other core sectors of infrastructure, demand of units was reportedly down by 50% during 2012 as compared to previous two years. However, manufacturers refrained from remaining dormant during the phase. Future preparedness remained on stream through strengthening of business structure, carrying out improvisation in products, increased focus on localization among others.
The preparedness was and continues to remain based on the cue from the rental sector, the primary demand segment. It foresaw and continues to believe that bottoming out of the slump cycle should happen soon. “The present slump has actually been much due to tardy awarding of contracts. However, subdued demand is also due to negative sentiment prevailing in the market, which should soon get tapered as number of new projects are lined up.” according to
Mr. Arun Mahajan, Director Appolo Cranes, crane rental behemoth. However, he warns, “financial support to the projects planned for execution has to be the key for stimulating units demand which has lost its earlier momentum, as financial institutions are now evaluating the bankability of the projects at hand in greater detail.”
The preparedness was and continues to remain based on the cue from the rental sector, the primary demand segment. It foresaw and continues to believe that bottoming out of the slump cycle should happen soon. “The present slump has actually been much due to tardy awarding of contracts. However, subdued demand is also due to negative sentiment prevailing in the market, which should soon get tapered as number of new projects are lined up.” according to
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NBM&CW February 2013
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