Growing Presence!

The construction equipment spare parts industry is witnessing an upward market trend due to high investments in maintenance and refurbishment activities.

The construction industry is a booming market. This industry has witnessed significant growth, particularly in India as the improving economy is propelling the market. The continuation of the development process especially in the developing countries has resulted in significant growth of this industry over the last few years. The growth of this industry share has witnessed immense rise in the sale of aftermarket parts for the construction equipment industry.

Rising equipment safety concerns and government regulations on equipment emissions are contributing to the industry statistics. High usage of machinery in construction activities leads to frequent wear & tear of spare parts, thus resulting in poor equipment and thereby supporting the demand.

Stringent government regulations on emission and the safety of construction equipment are forcing equipment owners to check their equipment periodically to avoid any major failure. Regulations also mandate the periodic replacement of engine, suspension & hydraulic components if they are causing excess pollutions or creating a possibility of equipment failure.

Technology rules….

According to a report from GM Insights, one of the key factors limiting the market growth is the high initial cost of replacement parts and services. Most of the company warranty plans do not cover all the spare parts, thereby increases replacement cost excluded parts that have a warranty. Additionally, construction equipment OEMs are establishing training facilities to train their equipment operators. Well-trained operators carefully handle construction equipment, reducing the wear and tear of machine components, thus negatively affecting the market statistics.

Technological developments, such as digital twin and connectivity solutions, in equipment are reducing equipment maintenance, affecting the industry revenue. Moreover, construction equipment owners are focusing on purchasing fail-safe machines with advanced sensor integration to reduce downtime and maintenance costs. Fail-safe machines offer the component’s overall statistics related to performance to the owner, enabling efficient management of equipment spare parts.

Market leaders optimistic…

Amit Deokule, Sr. GM, Sales & Marketing, NORD Drivesystems, said, “Companies are more leaned towards enhancing their power transmission capacity to save overall manufacturing cost and improve system efficiency. The Nord gear motor is combination of a gearbox and an electric motor widely used for improving process efficiencies which is Industry 4.0 ready. It simplifies the design and implementation by eliminating the step of separately designing and integrating the motor with gears, thus reduces the overall engineering cost as well as improvement in efficiency. More productivity, more efficiency, and increased driving comfort – these are the requirements of any machinery must meet. Evolution and spread of technology have redefined work methodology in most areas. We believe in offering highly efficient systems solutions to our customers. The advance gear motors are optimised for noise reduction, increase in the strength and improved life. Thus, gear motor offers a wide variety of advantageous property to enhance the efficiency of the machine and reduce the operational cost.”

Rajiv Poddar, Joint Managing Director, Balkrishna Industries, said, “Being a global player in the Off-highway tire market, we are continuously focusing our efforts on upgrading our product range, doing so can help ensure better performance in various applications as well as improve comfort for equipment operators and minimize unplanned downtime.

Especially in the construction equipment market, we are the only Indian manufacturer that has rolled out a technologically advanced all-steel radial tire range that offers improved fuel economy, longer life, and least downtime.”

Viren Nanavati, Senior Director, Sales, Raj Petro Specialities, said, “Competition is only getting fierce with each passing day. This is healthy no doubt as it drives growth. A lot of emphasis on working capital and thereby inventory management has taken precedence in today’s day and age. Suppliers are expected to move closer to the customer’s premise. Better value sale propositions like – bulk storage tank installation, pay on consumption basis, just in time delivery, lube condition monitoring to name a few is the pattern followed and Raj Petro has been one of the front runners on this front. Being a comprehensive supplier of industrial and automotive lubes including greases, makes Raj a preferred choice!”

Kennady V Kaippally, Country Manager, Bonfiglioli India, said, “Indian markets have evolved over time, and this is getting reflected in the buying patterns of the end -user- segments. We are seeing a shift of the market from general purpose machines to specialized equipment that is driven by higher productivity requirements of end – users. This trend is visible across the applications few examples would be the increasing usage of excavators for earthmoving, horizontal drilling machines for cable laying, twin shaft mixers for batching plants etc. Another trend which is apparent is the desire of end users for equipment’s with better safety features. These buying preferences are getting reflected in customers move towards equipment’s with higher safety features, as can be seen in growth of equipment’s like new generation of cranes that are gaining ground.”

Anjali Pandey, Engine Business & Components Business Leader, Cummins India, said, “As compared to the construction industry a decade ago, today the end users execute projects amid stiff competition and even more stringent timelines. Therefore, they cannot afford to have any equipment downtime. They would need reliable products and aftermarket support combined with all the information about functioning equipment on their fingertips. IoT has indeed taken over the industry.   

The end customer requirement is to complete any infrastructure or construction project within time and at lower cost. Nowadays there are heavy penalties in terms of extending the project beyond the promised deadlines in most of the segment.”

Isaac George, Sr. Vice President, Global Sales, Wipro Infrastructure Engineering, says, “Wipro’s strength in the field of hydraulic cylinders is based on longstanding expertise across application areas and our global operations. Experience helps us find the fine balance between efficiency, safety, and cost. Global operations give us the ability to design, source and manufacture efficiently while being close to our customers. Global capacity helps us mitigate risks to a large extent. This combination gives us a unique positioning that our customers value.”

Prashant Bhaskaran, General Sales Manager SAARC, TVH India, said, “Speed of delivery and OEM quality products was the market requirement always and TVH quality charter that evolved over the last 50 years has taken care of this part. TVH has some of the largest and the most modern spare parts warehouses in the world at Waregem, Belgium. Our test centres for spare part quality checks are an added level to the parts a customer will receive. We not only rely on the part manufacturer’s assurance, but we have our own testing process in place to ensure the best product reaches the customers.”

Jitendra Jain, Director, Nakoda Machinery, states, “We can see a great change in buying pattern post-Covid. Industry is under marginal pressure which forcing end user to find quality.”

According to Vasim Pradhan, Head Sales, India & International Business, Ashar Locker (India), “We have over five decades of experience in Screening segment and also, we are the only manufacturer in India to provide complete screening range to all our customers. We procure our wires from either Tata Steel Ltd or other equivalent wire manufactures from across the world.”-

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