Page 45 - CV Aug-Sep 2023 Issue

CONSTRUCTION EQUIPMENT

SALES TO BREACH THE 2018

PEAK THIS YEAR

DIMITROV KRISHNAN
HEAD, VOLVO CONSTRUCTION EQUIPMENT

onstruction equipment sales, a disturbance in the macro environment, “We expect to see a growth of roughly
barometer of economic activity, which to a large extent is not just in the 10% this year, on the total market side.
Cshould breach the 2018 peak of government's hands. It's also driven by The growth is largely driven from
around 100,000 units next year, paced by global economic factors. But I do believe segments like coal mining and handling,”
increased government spending on 2023 should be the next peak.” Krishnan said.
infrastructure projects. This year (2023)
will be an important year. Execution of Krishnan said that rising demand for “The need for power is driving demand
projects will all be very high, starting later power, coupled with the government's for coal production as well as import of
this year to next year,” Dimitrov Krishnan, focus on infrastructure investment to coal. At the same time, we have seen a
Head, Volvo Construction Equipment, increase economic activity, would help lot of focus on infrastructure,” said
told ET. “There might be a little bit of a boost the demand for construction Krishnan on the sidelines of the launch of
equipment. the EC 550 excavator last week.

CONSTRUCTION VISION 43 AUGUST - SEPTEMBER 2023