Volvo CE Hopes For Double-digit Growth: Dimitrov Krishnan, MD, Volvo Construction Equipment India

On the legacy of Volvo CE in India
We have been a part of the Indian construction and infrastructure market for over 25 years since we introduced world-class Articulated Haulers which are still operating in mines in Goa. Our machines have played a pivotal role in several milestone mining and infrastructure projects over the last two decades. We have been consistently investing to build our manufacturing capacity and add product lines, since the time (2007) we acquired this facility in Peenya. This facility today manufactures over 3500 machines per annum consisting of compaction machines, excavators and wheel-loaders (for SDLG India, our group company).

On key growth factors in construction market 
India's construction equipment industry witnessed a 26 per cent rise in sales to 1,35,650 units in the 2023-24 fiscal. This market is booming primarily due to huge government investments in infrastructure development, growing mining activities, increased mechanization, rapid urbanization and increasing demand for residential and commercial development due to growing population.

On Volvo CE’s market share in India’s CE sector?
Volvo CE is enjoying a market share of around 6.5 per cent in the Indian construction equipment sector presently, and continued focus on sustainability, innovation, and product localization is helping us grow steadily there. We are pushing on products specific to Indian needs, for example, introducing EC210, a 21-Tonne class Hydraulic Excavator, which improves fuel efficiency by up to 20 per cent.

On technology driving infrastructural development
Technology is accelerating the pace of infrastructural development in India with specialized machines driving productivity and performance. In construction equipment space, automation & robotics, zero or lower emission propulsion (electric, hybrid, fuel-cell, biofuels), IoT and connectivity are the larger tech trends. The telematics-based system developed by Volvo's CareTrack is a great example that supports the remote monitoring of equipment and predictive maintenance based on real-time data. Our zero-emission electric machines such as EC55, L120H, EC500 (grid electric), etc. are driving the industry towards a more sustainable paradigm.

Read full story here: Construction Fatigue? 
 

Ashish Sinha

BW Reporters Ashish Sinha is an experienced business journalist who has covered FMCG, auto, infrastructure, tourism, telecom among several other beats. Ashish has keen interest in the regulatory scenario impacting different sectors. He writes on aviation, railways, post and telegraph, infrastructure, defence, media & entertainment, among a wide variety of other subjects.