Construction Equipment sales grew by 27% in April - December’23: ICEMA
Key highlights of the ICEMA Quarterly Sales Report for the 3rd Quarter – FY 2023-24 (Q3 FY24):
- Total Construction Equipment sales have grown by 27% during the first nine months (Apr-Dec) of the current fiscal year over the same period of last financial year, with all equipment segments having recorded robust growth over the previous year.
- In Q3 FY24, sales of construction equipment grew by 30% vis-à-vis Q3FY23. Positive growth trend is witnessed across all equipment categories during this period.
- A total of 36,055 units of Construction Equipment were sold in Q3 FY24 (Domestic – 33,135 Exports – 2,920), which included:
- Earthmoving Equipment – 25,087 units
- Material Handling Equipment - 4,482 units
- Concrete Equipment - 3,840 units
- Road Construction Equipment - 1,958 units
- Material Processing Equipment - 688 units
- On a month-on-month basis, sales in Dec 2023 recorded growth of 18% as compare to Dec 2022, however on a MoM basis, there was a decline of 14% in sales in Dec 2023.
- A total of 10,653 units of construction equipment were sold in Dec 2023.