The Growth of India Mining Equipment Industry

The growth of construction and mining equipment industry is interlinked with the growth of the Indian economy and indirectly with the growth of infrastructure.

The last few years have witnessed a phase of restructuring in the industry through acquisitions and joint ventures. This also reflects the active interest of international majors in the domestic market. Many international players have also appointed selling agents for importing and selling complete equipment in India. (pulverizer in India)

The construction and mining equipment industry is dominated by a few large manufacturers in each product segment. BEML supplies to nearly half the total market. BEML and Caterpillar lead in dumpers and dozers while L&T Komatsu and Telcon lead in excavators , JCB India in backhoe loaders and Escorts Construction Equipment Ltd. in Mobile Cranes.

Structure of the Sector 71% of the sector comprises of public limited companies including PSU’s and 29% private limited, or joint ventures including closely held private limited companies.

75% of the companies manufacturing in India were involved in the entire range of activities like design and engineering, manufacturing, erection, servicing and commissioning. There are only a few companies who act as selling agents for international players. There are others who manufacture and also import complete equipment or in SKD condition from their principals abroad and market them.

Since each piece of the equipment in this product category has substantial value, a number of companies have a turnover of over 100 crores and the larger ones have a turnover above Rs.1000 crores. The technology barriers have made the industry less fragmented in the mining machinery sector whereas it is fragmented in the road construction equipment and the material-handling segments. The international trend in the earthmoving and mining segment is one of consolidation. This trend is also beginning to be seen in India. Some international companies are looking at the prospects of enhancing their market presence based on higher investment in mining and infrastructure and also using their Indian operations to meet demand in South and South East Asia.

The industry’s expectations of the likely future evolution in this sector is represented here in graphical form. Most of the current players expect that new players will enter the Indian market.

Most manufacturing companies in this sector in India have design and engineering departments catering to their in-house requirements and all of them are fairly well equipped using CAD/CAE. This is required because while the products may be fairly standard, there are changes, which need to be incorporated as per customer specifications and for product development.

The percentage of engineering hours spent on doing engineering rework was found to be an average of 12% ranging from 0.5% to 20% in some companies.

90% of the companies with technology collaborations have completed technology absorption. However most of the critical components are being imported and most of the technology absorption is in terms of non-critical items, or medium / low technology items. 35% of the companies however, faced problems in retaining the personnel who have been trained abroad during the technology absorption phase.

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