The construction equipment rental market is expanding rapidly, driven by rising demand for cost-effective equipment solutions, increased construction activity, and a shift to rental models for equipment acquisition.
After a remarkable 18–20 percent revenue rise in FY2024e, ICRA projects that the Indian construction sector will continue to develop at a robust rate in FY2025, with a forecast YoY growth of 12–15 percent.
According to ICRA, the domestic MCE industry would see a fall in volume in FY2025 after two years of robust growth—26 percent in FY2023 and 24 percent in FY2024e.
With cutting-edge materials that improve structural performance, durability, and sustainability in building applications, the construction composites market leads innovation in the construction sector.
Due to a relative slowdown in demand and larger competitors vying for market share, the average cement prices across India saw a 1.5–2 percent MoM decline on February 24.