India Construction Market To Flourish Over Union Budget-2022
India Construction Market is
expected to show robust growth due to rising investments in the industry during
the forecast period.
According to
TechSci report on, “India Construction Market, By Region, Competition
Forecast & Opportunities, 2018 - 2028”. India construction market is anticipated
to grow with an impressive CAGR during the forecast years and expand to
generate high revenues for the country’s GDP on the backbone of growing
investments in the sector. Industrial growth is highly dependent on the growing
population of the country. The growing population coupled with their rising
disposable income are upgrading the demands for the residential accommodations.
While the below poverty line population is still dependent over government to
provide for their accommodations. Middle class and high class population is
actively spending lavishly over their residential accommodations and the
growing demand for home ownerships further supports the growth of the India
construction market in the next five years. Government aided growth schemes and
investments are also aiding the market growth. Recently launched plans for the
100 smart cities project is one of the many inter-state construction growths in
the country. Increasing construction in the industrial sector due to growing
industrialization, and urbanization is also responsible for the futuristic
growth of the India construction market in the future five years. Bharatmala
Pariyojana is a new highways umbrella program that focuses on improving the
efficiency of freight and passenger movement across the country by bridging
critical infrastructure gaps with effective interventions such as the
development of Economic Corridors, Inter Corridors and Feeder Routes, National
Corridor Efficiency Improvement, Border and International Connectivity Roads,
Coastal and Port Connectivity Roads, and Green-field expressways.
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The India construction market segmentation is based
on type, machinery, industry, regional distribution, and competitional
landscape. Based on type, the market is further segmented into building
construction, heavy and civil engineering construction, specialty trade
contractors, and land planning & development. Building construction is
anticipated to hold the largest revenue shares of the market and dominate the segment
in the upcoming five years on the grounds of increasing population of the
country. Moreover, the growing construction of the residential and industrial
construction further supports the growth of the India construction market in
the next five years. The growing investments in the building construction is
further anticipated to aid the growth of the India construction market in the
future five years. Heavy and civil engineering construction is also anticipated
to hold significant growth in the market due to increasing construction of
highways, and flyovers. Growing state government investment in the heavy and
civil engineering construction is also driving the market growth.
By machinery, the market is fragmented into earth
moving, material handling, and concrete & road construction. Earth moving
is anticipated to hold the largest revenue shares of the market and dominate
the market segment in the upcoming five years on the account of increasing
excavations for the construction purposes. Increasing demands for the skyrise
building and industrial development further substantiates the growth of the
India construction market in the future five years.
Based on industry, the market is bifurcated into
industrial, commercial, infrastructure and residential.
A partial list of market players in the field
includes:
·
L&T
·
Megha
Engineering & Infrastructures Limited
·
Shapoorji
Pallonji Co. Pvt. Ltd.
·
Tata
Projects
·
KEC
International Limited
·
Afcons
Infrastructure Ltd.
·
Dilip
Buildcon Limited
·
Hindustan
Construction Co. Ltd.
·
NCC
Limited
·
Lodha
Group
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“Construction
industry in India is anticipated to further grow in the future years owing to
the growing investments in the sector. Government’s involvement through
investments and favorable schemes is also anticipated to support the market
growth. Higher prices of the construction equipment and supported with growing
construction equipment rental market is expected to substantiate the growth of
the India construction market. Rising population, coupled with their rising
disposable income and demand for owing personal homes is fueling the India
construction market. Although due to COVID-19 the market suffered losses since
the further constructions were halted for two years. With the reinstatement of
the construction projects, and government aided funds through state government
involvement is substantiating the growth of the India construction market in
the future five years. New market players may focus on the technological
advancement, incorporating IT into the construction industry and various
prospects would also aid the growth of the India construction market and
support the new market players in establishing their brands in the industry,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Construction Market By Type (Building
Construction, Heavy and Civil Engineering Construction, Specialty Trade
Contractors, Land Planning and Development), By Machinery (Earth Moving,
Material Handling, Concrete & Road Construction), By Industry (Industrial,
Commercial, Infrastructure and Residential), By Region, Competition Forecast
& Opportunities, 2028” has evaluated the future growth
potential of India construction market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India construction market.
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