The 20-tonne segment captures a dominant 70% share of this excavator demand, translating to 18,000-20,000 units sold each year.
18 Jun 2024 | 7229 Views | By Shahkar Abidi
Volvo Construction Equipment (Volvo CE) India aims to more than double its market share in the 20-tonne excavator segment. The company, which currently has a 4% share, is betting big in this segment, given its size.
Excavators represent the second-largest product category in India's construction equipment sector, accounting for ...
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Volvo Construction Equipment (Volvo CE) India aims to more than double its market share in the 20-tonne excavator segment. The company, which currently has a 4% share, is betting big in this segment, given its size.
Excavators represent the second-largest product category in India's construction equipment sector, accounting for roughly 30,000-35,000 units annually out of a total market of 136,000 units. Notably, the 20-tonne segment captures a dominant 70% share of this excavator demand, translating to 18,000-20,000 units sold each year.
"This segment is simply too important to ignore," remarked Dimitrov Krishnan, Managing Director of Volvo CE India, without giving a timeline for achieving this goal.
This strategic shift marks a departure for Volvo CE India, traditionally known for its strong presence in high-production segments like mining. However, the company acknowledges that customer needs vary. In applications where heavy-duty machines see less frequent use, different priorities emerge. The EC210, boasting a localisation level of nearly 70%, is specifically designed to cater to these distinct requirements within the Indian market.
The company today unveiled its EC210 model in the 20-tonne excavator category. Alongside the EC210 launch, Volvo Construction Equipment (Volvo CE) has also partnered with Shriram AutoMall (SAMIL), India's largest 'phygital' marketplace for pre-owned vehicles and construction equipment. This collaboration aims to establish a robust ecosystem for machine exchange and disposal, serving customers interested in purchasing new Volvo machines by replacing their existing fleet.