US-based Caterpillar expects India’s heavy equipment market to double to over USD 4 billion over the next three years given the pick-up in mining, but ruled out capital investment as it already has built enough capacity for the next decade.

“I see the resources and the infra sector related equipment, which is the largest market here, doubling to over USD 4 billion over the next three years. The current market is around USD 2 billion or around 80,000 units per annum,” Caterpillar India Managing Director Vivekanand Vanmeeganathan told PTI here today. The world’s largest heavy equipment maker has been present here since the 1930s and sells massive cranes, earthmovers, off-roaders, gensets among others for the construction, resource, and energy and transportation segments.

http://www.business-standard.com/article/pti-stories/heavy-equipment-market-to-double-to-4-bn-in-3-yrs-caterpillar-116021900568_1.html

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *