India’s mining and construction equipment (MCE) sector is on track for remarkable growth, with its market size expected to nearly triple from the current USD 16 billion to USD 45 billion by 2030, according to a Vision Report by the Confederation of Indian Industry (CII) Kearney report.
This surge, driven by a robust 19 percent CAGR, positions India as the fastest-growing MCE market among the world’s top six economies, outpacing the US, Germany, and Japan. The sector is a critical pillar for infrastructure, energy, and industrial development globally, commanding a USD 18 trillion market and contributing 16 percent to global GDP.
The report highlights that the sector’s expansion could add more than USD 100 billion to India’s economy by FY30 and generate 20 million new jobs, fueled by growth in both upstream and downstream industries.
To achieve this Vision 2030, the report recommends a series of policy and structural reforms, including the creation of a single nodal agency for governance, a tailored Production Linked Incentive (PLI) scheme, accelerated exports through FTAs, mutual recognition of Indian certification standards, promotion of technology and automation, and rationalization of taxes and import duties, all aimed at cementing India’s position as a global manufacturing hub in the MCE sector.
The stocks that are likely to benefit from this
BEML Ltd
BEML Limited is India’s leading manufacturer of mining and construction equipment, offering a comprehensive range of machinery such as dump trucks, hydraulic excavators, bulldozers, wheel loaders, and motor graders for both opencast and underground mining.
With over 90 percent indigenous content in its products, BEML plays a crucial role in supporting the country’s coal, steel, cement, power, and infrastructure sectors. The company operates nationwide through a robust sales and service network, and its innovative, eco-friendly equipment serves as a key enabler for India’s infrastructure and industrial growth.
AIA Engineering Ltd
AIA Engineering Ltd specializes in designing and manufacturing high-chromium wear-resistant castings, which are critical consumables for grinding and crushing operations in the mining and cement industries.
The company’s products, such as grinding media, mill liners, and diaphragms, help improve operational efficiency and reduce downtime for global mining and mineral processing companies. With a strong export focus and advanced manufacturing capabilities, AIA Engineering is well-positioned to benefit from the expansion of mining activities in India and abroad.
Elecon Engineering Company Ltd
Elecon Engineering Company Ltd is a prominent manufacturer of industrial gears and material handling equipment, catering to the needs of mining, power, cement, and steel industries.
The company produces conveyor systems, elevators, crushers, and specialized gearboxes that are essential for efficient bulk material movement and processing. Elecon’s expertise in engineering solutions and its established presence in both domestic and international markets make it a key beneficiary of the growing mining and construction equipment sector.
Tega Industries Ltd
Tega Industries Ltd is a global leader in the design and production of specialized consumables for the mining, mineral processing, and bulk solids handling industries.
Its product portfolio includes mill liners, hydrocyclones, screens, and conveyor components, all designed to enhance productivity and reduce maintenance costs for mining operations. With a strong international footprint and focus on innovation, Tega Industries is well placed to capitalize on the sector’s growth and India’s emergence as a global mining hub.
Action Construction Ltd
Action Construction Equipment Ltd (ACE) is a leading Indian manufacturer of construction and material handling equipment, including cranes, loaders, forklifts, and road construction machinery.
ACE’s products are widely used in infrastructure, mining, agriculture, and industrial projects across India. The company’s broad product portfolio, expanding market presence, and focus on innovation position it to benefit significantly from the rapid growth in India’s mining and construction equipment sector.
Written by Sridhar J
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